Pier 1 2012 Annual Report Download - page 118

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Pier 1 Imports’ common stock on the date of grant. If the date of grant occurs on a day when Pier 1 Imports’
common stock is not traded, then the closing price on the last trading day before the date of grant is used. The
closing price on the date of grant for fiscal 2012 grants was $9.81 for Mr. Smith and $9.81 and $11.47 for the
other named executive officers. The amounts shown exclude the impact of estimated forfeitures related to
service-based vesting conditions. For performance-based awards, the grant date fair value is based on the
probable outcome of Pier 1 Imports achieving performance targets. The amounts in the table assume targets are
met and the maximum number of shares awarded will vest.
(5) This column includes the short-term incentive cash award amounts earned during the fiscal year for each named
executive officer. This column also includes the amounts earned during the fiscal year by each eligible named
executive officer under the long-term incentive cash award granted in fiscal 2010. The amounts earned during
the fiscal year under the fiscal 2010 long-term incentive cash award are $85,000 for Mr. Turner, $58,333 for
Ms. David, $55,000 for Mr. Humenesky, and $55,000 for Ms. Leite.
(6) This column represents the sum of the change in pension value and above market earnings on non-qualified
deferred compensation earnings for each of the named executive officers. Neither Ms. Leite nor Ms. David is a
participant in a Pier 1 Imports defined benefit plan.
The change in pension values were:
Name
Fiscal
2012
Fiscal
2011
Fiscal
2010
Alexander W. Smith $3,442,284 $2,597,109 $764,755
Charles H. Turner $ 575,464 $ 941,355 $346,637
Gregory S. Humenesky $ 475,727 $ 261,666 $103,615
See “Pension Benefits Table for the Fiscal Year Ended February 25, 2012” below for additional information.
The above-market earnings on the non-qualified deferred compensation plan in which the below named
executive officers participated were:
Name
Fiscal
2012
Fiscal
2011
Fiscal
2010
Alexander W. Smith $0 $519 $ 4
Charles H. Turner $0 $656 $644
Catherine David $0 $ 66 N/A
Gregory S. Humenesky $0 $451 $468
Sharon M. Leite $0 $ 26 $ 0
Above-market earnings represent the difference between 120% of the long-term applicable federal rate at the
time the rate for the plan was selected and the annual interest credited in calendar years 2012, 2011, 2010 and
2009 of 5.81% 5.99%, 7.47% and 7.39%, respectively, by Pier 1 Imports on salary deferred by the named
executive officers plus Pier 1 Imports match amounts under the Pier 1 Benefit Restoration Plan II described
below under the caption “Non-Qualified Deferred Compensation Table for the Fiscal Year Ended February 25,
2012.” Additional information about this plan and the indicated named executive officer’s participation is shown
in that table.
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