Pier 1 2008 Annual Report Download - page 122

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(2) Stock options become exercisable in accordance with the vesting schedule below:
Grant Date Vesting
07/01/2005, 06/23/2006 and
04/13/2007 25% per year beginning on the anniversary of grant date.
02/19/2007 As described and discussed in the Compensation Discussion and
Analysis above, Option 1 for Mr. Smith vested in full on
February 19, 2008.
(3) Refer to the Compensation Discussion and Analysis above on Option 2 granted to Mr. Smith for a discus-
sion of its vesting.
(4) Time based restricted stock awards vest according to the following schedule:
Grant Date Vesting
07/01/2005, 06/23/2006 and
04/13/2007
33%, 33% and 34% respectively on each anniversary of the grant
date provided that the participant is employed at the vesting date.
(5) Performance-based restricted stock awards vest according to the following schedule:
Grant Date Vesting
06/23/2006 Cliff vest on February 28, 2009 if three-year cumulative EBITDA
is at least $331,000,000 provided that the participant is employed
at the end of the three fiscal years.
(6) Upon the termination of Mr. Schneider’s employment on August 6, 2007, all unvested restricted stock
awards (time and performance-based) were forfeited. His stock options are exercisable until the earlier of
expiration of the option term of 10 years from the grant date, or August 6, 2010.
Option Exercises and Stock Vested Table for the Fiscal Year Ended March 1, 2008
The following table provides information for each named executive officer on (a) stock option exercises
during fiscal 2008, including the number of shares acquired upon exercise and the value realized, and (b) the
number of shares for which forfeiture restrictions lapse upon the vesting of time based restricted stock awards
and the value realized. In each event the value realized is before payment of any applicable withholding tax
and broker commissions.
Name
Number of
Shares Acquired
on Exercise
(#)
Value Realized
on Exercise
($) Grant Date
Number of
Shares Acquired
on Vesting
(#)
Value Realized
on Vesting
($)
Option Awards Stock Awards(1)
Alexander W. Smith ....... 0 $0 N/A N/A N/A
Charles H. Turner ......... 0 $0 06/23/2006 3,630 $30,165
07/01/2005 5,940 $50,431
Gregory S. Humenesky . . . . . 0 $0 06/23/2006 3,630 $30,165
07/01/2005 5,940 $50,431
Jay R. Jacobs ............ 0 $0 06/23/2006 3,630 $30,165
07/01/2005 5,940 $50,431
Phil E. Schneider ......... 0 $0 06/23/2006 3,630 $30,165
(Employment ended 07/01/2005 5,940 $50,431
August 6, 2007)
David A. Walker .......... 0 $0 06/23/2006 3,630 $30,165
07/01/2005 5,940 $50,431
(1) On June 23, 2006 and July 1, 2005, Messrs. Turner, Humenesky, Jacobs, Schneider and Walker were each
granted 11,000 shares and 18,000 shares, respectively, of restricted stock that vest 33%, 33% and 34% on
each anniversary of the grant date provided that the participant is employed at the vesting date. On June 23,
41