Pier 1 2011 Annual Report Download - page 130

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(3) Time-based restricted stock awards, other than those granted to Mr. Smith, vest according to the following
schedule:
Grant Date Vesting
04/11/2008 and 04/09/2010 33%, 33% and 34%, respectively, on each anniversary of the
grant date provided that the participant is employed on the
vesting date.
(4) See footnote #1 to the “Summary Compensation Table for the Fiscal Years Ended February 26,
2011, February 27, 2010 and February 28, 2009” above for more information regarding these awards. The
time-based restricted stock award granted to Mr. Smith on December 18, 2009 vests 125,000 shares per
year on each of the first three anniversaries of the grant date, provided Mr. Smith is employed on such
dates. The time-based restricted stock awards granted to Mr. Smith on February 28, 2010 and on
February 27, 2011 and the time-based restricted stock awards to be granted to Mr. Smith on February 26,
2012 vest 62,500 shares per year on the last day of the fiscal year in which the grant occurred and on the
last day of each of the following two fiscal years, provided Mr. Smith is employed on the last day of each
such fiscal year.
(5) Performance-based restricted stock awards, other than those granted to Mr. Smith, vest according to the
following schedule:
Grant Date Vesting
04/09/2010 33%, 33% and 34% upon Pier 1 Imports satisfying the Profit
Goal target established by the compensation committee for
fiscal 2011, 2012 and 2013, respectively, provided that the
participant is employed on the date of filing of Pier 1
Imports’ annual report on Form 10-K for the applicable
fiscal year.
(6) Performance-based restricted stock awards granted to Mr. Smith vest according to the following schedule:
Grant Date Vesting
02/28/2010 62,500 shares each year upon Pier 1 Imports satisfying the
Profit Goal target established by the compensation
committee for fiscal 2011, 2012 and 2013, achievement of
which is determined upon the filing of Pier 1 Imports’
annual report on Form 10-K for the applicable fiscal year
and provided that Mr. Smith is employed on the last day of
each such fiscal year.
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