Pier 1 2007 Annual Report Download - page 113

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Summary Compensation Table for the Fiscal Year Ended March 3, 2007
The following table sets forth a summary of the compensation in the past fiscal year for services rendered
in all capacities to Pier 1 and its subsidiaries by the chief executive officer, chief financial officer, three other
most highly compensated executive officers, and up to two additional individuals for whom disclosure would
be required but for the fact that the individual was not serving as a Pier 1 executive at the fiscal year end.
Name & Principal Position
Fiscal
Year
Salary(1)
($)
Bonus
($)
Stock
Awards(2)
($)
Option
Awards(3)
($)
Non-Equity
Incentive
Plan
Compensation
($)
Change in
Pension
Value and
Non-Qualified
Deferred
Compensation
Earnings(4)
($)
All Other
Compensation(5)
($)
Total
($)
Marvin J. Girouard . . . . . 2007 $1,080,769 $0 N/A $1,867,984 $0 $2,410,392 $181,306 $5,540,451
Former Chairman and
Chief Executive Officer
(retired February 19,
2007)
Alexander W. Smith . . . . . 2007 $ 22,243 $0 N/A $ 47,296 $0 $ 0 $ 46,598 $ 116,137
President and
Chief Executive Officer
(hired February 19, 2007)
Charles H. Turner . . . . . . 2007 $ 377,692 $0 $102,916 $ 42,692 $0 $ 93,970 $ 79,832 $ 697,102
Executive Vice
President and Chief
Financial Officer
Jay R. Jacobs . ........ 2007 $ 377,692 $0 $102,916 $ 44,680 $0 $ 22,837 $ 74,334 $ 622,459
Executive Vice President,
Merchandising
Phil E. Schneider. . . . . . . 2007 $ 283,462 $0 $102,916 $ 131,570 $0 $ 71,294 $ 63,604 $ 652,846
Executive Vice
President, Marketing
David A. Walker . . . . . . . 2007 $ 291,922 $0 $102,916 $ 131,570 $0 $ 132,297 $ 51,954 $ 710,659
Executive Vice
President, Logistics and
Allocations
E. Mitchell Weatherly . . . . 2007 $ 314,154 $0 $ 28,215 $ 186,798 $0 $ 351,453 $ 75,737 $ 956,357
Former Executive Vice
President, Stores (retired
December 30, 2006)
(1) This column represents the amount of base salary paid to the named executive officer during fiscal 2007.
(2) This column represents the dollar amount recognized for financial statement reporting purposes for fiscal
2007 for the fair value of time based and performance based restricted stock awards granted in fiscal 2007
as well as time based restricted stock awards in prior fiscal years, in accordance with SFAS 123R. The
amounts shown exclude the impact of estimated forfeitures related to service based vesting conditions. For
time based restricted stock awards, fair value is calculated using the closing price of Pier 1’s common
stock on the date of grant. For performance based restricted stock awards, no amount was expensed in fis-
cal 2007 because Pier 1’s fiscal 2007 EBITDA performance goal, as set forth in the Compensation Discus-
sion and Analysis above, was not met, thereby lessening the likelihood of the three year EBITDA
performance goal being met. Mr. Weatherly’s unvested time based restricted stock award of 23,060 shares
and performance based restricted stock award of 12,000 shares were forfeited upon retirement. These
amounts reflect Pier 1’s accounting expense for these awards, and do not necessarily correspond to the
actual value that will be recognized by the named executive officer.
(3) This column represents the dollar amount recognized for financial statement reporting purposes for fiscal
2007 for the fair value of stock options granted in fiscal 2007 as well as prior fiscal years, in accordance
with SFAS 123R. The amounts shown exclude the impact of estimated forfeitures related to service based
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