Pier 1 2011 Annual Report Download - page 128

The following table sets forth information relating to grants of plan-based awards during the fiscal year ended
February 26, 2011 to the executive officers named above in the table included under the caption “Summary Compensation
Table for the Fiscal Years Ended February 26, 2011, February 27, 2010 and February 28, 2009.”
Name
Grant
Date
Meeting
Date
Estimated Future Payouts
Under Non-Equity
Incentive Plan Awards(1)
Estimated Future Payouts
Under Equity Incentive
Plan Awards(2)
All
other
Stock
Awards:
Number
of
Shares
of Stock
or Units
(#)
All Other
Option
Awards:
Number of
Securities
Underlying
Options
(#)
Exercise
or Base
Price of
Option
Awards
($/Share)
Grant
Date Fair
Value of
Stock and
Option
Awards(3)
($)
Threshold
($)
Target
($)
Maximum
($)
Threshold
(#)
Target
(#)
Maximum
(#)
Alexander W. Smith 04/16/2010 03/26/2010 $131,250 $1,050,000 $2,100,000 – N/A – – N/A N/A N/A
02/28/2010 12/15/2009 – – – 31,250 62,500 62,500 – N/A N/A $406,250
Charles H. Turner 04/16/2010 03/26/2010 $43,125 $345,000 $690,000 – N/A – – N/A N/A N/A
04/09/2010 03/26/2010 – – – 3,960 7,920 7,920 – N/A N/A $ 68,429
04/09/2010 03/26/2010 – – – – N/A – 42,000 N/A N/A $362,880
Catherine David 04/16/2010 03/26/2010 $ 37,500 $ 300,000 $ 600,000 – N/A – – N/A N/A N/A
04/09/2010 03/26/2010 – – – 2,970 5,940 5,940 – N/A N/A $51,322
04/09/2010 03/26/2010 – – – – N/A – 18,000 N/A N/A $155,520
Gregory S. Humenesky 04/16/2010 03/26/2010 $ 30,938 $ 247,500 $ 495,000 – N/A – – N/A N/A N/A
04/09/2010 03/26/2010 – – – 2,063 4,125 4,125 – N/A N/A $35,640
04/09/2010 03/26/2010 – – – – N/A – 12,500 N/A N/A $108,000
Sharon M. Leite 04/16/2010 03/26/2010 $ 31,563 $ 260,000 $ 520,000 – N/A – – N/A N/A N/A
04/09/2010 03/26/2010 – – – 2,558 5,115 5,115 – N/A N/A $44,194
04/09/2010 03/26/2010 – – – – N/A – 15,500 N/A N/A $133,920
(1) These columns show the potential value of the payout for each named executive officer under the quarterly and annual
short-term incentive cash award described above (grant date April 16, 2010) if the threshold, target or maximum amount
of the Profit Goals for fiscal 2011 is met. The calculations for the short-term incentives are based on the named executive
officer’s fiscal 2011 annual base salary as of the last day of the fiscal year. The fiscal 2011 annual base salary in effect
for incentive cash award calculations for Mr. Smith was $1,050,000; for Mr. Turner was $460,000; for Ms. David was
$400,000; for Mr. Humenesky was $330,000; and for Ms. Leite was $330,000 for the period from February 28, 2010
through April 17, 2010 and $350,000 for the period April 18, 2010 through February 26, 2011.
(2) These columns show the potential number of shares that will vest for each named executive officer under the
performance-based restricted stock awards described above (grant date April 9, 2010, except for Mr. Smith who had a
February 28, 2010 grant date) if the threshold, target or maximum amount of the fiscal 2011 Profit Goal target is met.
(3) This column represents the aggregate grant date fair value of time-based and performance-based restricted stock
awards granted during the fiscal year, computed in accordance with FASB ASC Topic 718. The amounts shown
exclude the impact of estimated forfeitures related to service-based vesting conditions. For restricted stock awards,
fair value is calculated using the closing price of Pier 1 Imports’ common stock on the date of grant. These amounts
reflect Pier 1 Imports’ accounting expense for these awards, and do not necessarily correspond to the actual value that
will be recognized by the named executive officer. For performance-based awards, the grant date fair value is based
on the probable outcome of Pier 1 Imports achieving the Profit Goal target for fiscal 2011. The amounts in the table
assume that the target will be met and that the maximum number of shares awarded will vest.
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