Pier 1 2011 Annual Report Download - page 126

Those contributions were as follows:
Name 401(k) BRP II DCP SPP Total
Alexander W. Smith $8,965 $27,865 $3,635 $21,707 $62,172
Charles H. Turner $9,473 $ 4,069 $ 531 $ 8,791 $22,864
Catherine David $9,196 $ 9,231 $1,385 $ 2,125 $21,937
Gregory S. Humenesky $7,540 $ 0 $1,142 $ 4,250 $12,932
Sharon M. Leite $8,965 $ 3,065 $ 606 $ 850 $13,486
Pier 1 Imports’ 401(k) and Stock Purchase Plan are broad based plans available to all eligible employees on a
non-discriminatory basis.
(c) This column reports $48,612 reimbursement paid to Ms. David for her moving and relocation expenses from her
residence in Franklin, Tennessee to Fort Worth, Texas, and travel expenses of $8,102 paid by Pier 1 Imports for
her travel between Franklin, Tennessee and Fort Worth, Texas during her period of relocation.
Grants of Plan-Based Awards for the Fiscal Year Ended February 26, 2011
As set forth in the Compensation Discussion and Analysis above, during fiscal 2011 Pier 1 Imports granted
short-term incentive cash awards pursuant to the Pier 1 Imports, Inc. 2006 Stock Incentive Plan to the named
executive officers. Quarterly and annual incentive cash awards are paid if Pier 1 Imports attains certain quarterly
and annual Profit Goals. The participant must be employed at the end of the applicable quarter to receive any
quarterly incentive cash award and also at the end of the fiscal year to receive any annual incentive cash award. An
executive’s incentive cash award threshold, target and maximum potential is expressed as a percentage of his or her
annual base salary for the fiscal year. The quarterly incentive cash award target for Mr. Smith was 12.5% of his
annual base salary, for Messrs. Turner and Humenesky and Mses. Leite and David was 9.375% of their respective
annual base salary. The annual incentive cash award target for Mr. Smith was 50% of his annual base salary, for
Messrs. Turner and Humenesky and Mses. Leite and David was 37.5% of their respective annual base salary.
Also, and as set forth in the Compensation Discussion and Analysis above, during fiscal 2011 Pier 1 Imports
granted under the Pier 1 Imports, Inc. 2006 Stock Incentive Plan long-term incentive awards to the named executive
officers, other than Mr. Smith. The fiscal 2011 long-term incentive awards were comprised of restricted stock grants
that were generally equally divided between time-based and performance-based shares. The time-based awards vest
33%, 33% and 34% each year over a three-year period beginning on the first anniversary of the grant date provided
that the participant is employed on the vesting date. Time-based restricted stock grants for fiscal 2011 to Mr. Turner
were 42,000 shares, to Ms. David were 18,000 shares, to Mr. Humenesky were 12,500 shares and to Ms. Leite were
15,500 shares. The performance-based shares vest 33% upon Pier 1 Imports satisfying the Profit Goal target
established by the compensation committee for fiscal 2011 (the same measure utilized for the annual short-term
incentive for fiscal 2011) and will vest 33% and 34% for each of the following two fiscal years, respectively, upon
Pier 1 Imports satisfying the Profit Goal target established by the compensation committee for the respective fiscal
year, provided that vesting for each fiscal year is conditioned upon the participant being employed on the date of
filing of Pier 1 Imports’ annual report on Form 10-K with the SEC for the applicable fiscal year. Over each three-
year performance (vesting) period, if the targeted Profit Goal is not satisfied in any fiscal year, those performance-
based shares that do not vest may still vest if the sum of consecutive years’ Profit Goals equals or exceeds the sum
of the individual consecutive fiscal year Profit Goal targets.
With respect to the number of performance-based shares that vest based on satisfying a targeted Profit Goal for
a given fiscal year, vesting will occur pursuant to the following schedule (with interpolation between the target
levels):
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