Pier 1 2009 Annual Report Download - page 152

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Option Exercises and Stock Vested Table for the Fiscal Year Ended February 28, 2009
The following table provides information for each named executive officer on (a) stock option
exercises during fiscal 2009, 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.
Option Awards Stock Awards(1)
Number of Shares Value Number of Shares Value
Acquired on Realized on Acquired on Realized on
Exercise Exercise Vesting Vesting
Name (#) ($) Grant Date (#) ($)
Alexander W. Smith ......... 0 $0 N/A N/A N/A
Charles H. Turner .......... 0 $0 04/13/2007 3,960 $29,502
06/23/2006 3,630 $14,520
07/01/2005 6,120 $19,890
Gregory S. Humenesky ...... 0 $0 04/13/2007 3,960 $29,502
06/23/2006 3,630 $14,520
07/01/2005 6,120 $19,890
Jay R. Jacobs ............. 0 $0 04/13/2007 3,960 $29,502
06/23/2006 3,630 $14,520
07/01/2005 6,120 $19,890
Sharon M. Leite ........... 08/06/2007 1,980 $ 7,682
David A. Walker ........... 0 $0 04/13/2007 3,960 $29,502
(Employment ended 06/23/2006 3,630 $14,520
August 15, 2008) 07/01/2005 6,120 $19,890
(1) On April 13, 2007, June 23, 2006 and July 1, 2005, Messrs. Turner, Humenesky, Jacobs and Walker
were each granted 12,000 shares, 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 April 13, 2008, the forfeiture restrictions lapsed on 3,960 shares
with a market price of $7.45 as of that date. On June 23, 2008, the forfeiture restrictions lapsed on
3,630 shares with a market price of $4.00 as of that date. On July 1, 2008, the forfeiture
restrictions lapsed on 6,120 shares with a market price of $3.25 as of that date. On August 6, 2007,
Ms. Leite was granted 6,000 shares 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
August 6, 2008, the forfeiture restrictions lapsed on 1,980 shares with a market price of $3.88 as of
that date.
Pension Benefits Table for the Fiscal Year Ended February 28, 2009
Pier 1 Imports’ chief executive officer and the named executive officers other than Ms. Leite
participate in a plan which was adopted by Pier 1 Imports in 1995 and is known as the Supplemental
Retirement Plan. The plan provides upon death, disability, or retirement, or termination of employment
(including termination of employment in certain circumstances as a result of a change in control) for
reasons other than cause (as defined in the plan) each participant will receive a life annuity based on
an annual benefit which generally equals 60% of the participant’s highest three-year average of annual
salary and bonus offset by Social Security retirement benefits. As shown in Pier 1 Imports’ Form 8-K
filed on November 15, 2007, Mr. Smith was offered, and he elected, a lump-sum payment option of the
actuarial equivalent of his benefit. As shown in Pier 1 Imports’ Form 8-K filed on April 24, 2008,
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