Pier 1 2014 Annual Report Download - page 123

EXECUTIVE COMPENSATION
Option Awards Stock Awards
Name Grant Date (1)
Number of
Securities
Underlying
Unexercised
Options
(#)
Exercisable
Number of
Securities
Underlying
Unexercised
Options
(#)
Unexercisable
Equity
Incentive
Plan
Awards:
Number of
Securities
Underlying
Unexercised
Unearned
Options
(#)
Option
Exercise
Price
($)
Option
Expiration
Date
Number of
Shares or
Units of
Stock
That Have
Not
Vested (2)
(#)
Market
Value of
Shares or
Units of
Stock
That
Have Not
Vested
($)
Equity
Incentive
Plan
Awards:
Number of
Unearned
Shares,
Units or
Other
Rights
That
Have Not
Vested (5)
(#)
Equity
Incentive
Plan
Awards:
Market or
Payout
Value of
Unearned
Shares,
Units or
Other
Rights
That
Have not
Vested
($)
Catherine David 04/08/2011 4,676 $ 88,470
04/06/2012 6,344 $120,028
04/12/2013 7,417 $140,330
04/08/2011 4,676 $ 88,470
04/06/2012 5,551 $105,025
04/12/2013 6,490 $122,791
04/06/2012 14,797 $279,959
04/12/2013 11,590 $219,283
Sharon M. Leite 04/08/2011 4,080 $ 77,194
04/06/2012 5,416 $102,471
04/12/2013 6,358 $120,293
04/08/2011 4,080 $ 77,194
04/06/2012 4,738 $ 89,643
04/12/2013 5,563 $105,252
04/06/2012 12,632 $238,997
04/12/2013 9,932 $187,913
(1) For better understanding of this table, an additional column has been included showing the accounting award date of the stock options and restricted stock awards.
(2) Time-based restricted stock awards to the NEOs, other than Mr. Smith, vest according to the following schedule:
Grant Date Vesting
04/08/2011, 04/06/2012 and
04/12/2013
33%, 33% and 34%, respectively, on each anniversary of the grant date
provided that the participant is employed on the vesting date.
(3) The time-based restricted stock awards received by Mr. Smith on February 26, 2012, vest 62,500 shares per year on the last day of the respective fiscal year in which they were issued and on the last
day of the following two fiscal years, provided Mr. Smith is employed on the last day of such fiscal year.
(4) See footnote #6 to the “Summary Compensation Table for the Fiscal Years Ended March 1, 2014, March 2, 2013 and February 25, 2012” above for more information regarding these awards. The
time-based restricted stock awards received by Mr. Smith on March 3, 2013 and March 2, 2014 and the time-based restricted stock awards to be received by Mr. Smith on March 1, 2015 vest 60,000
shares per year on the last day of the fiscal year in which they were issued 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 to the NEOs, other than Mr. Smith, vest according to the following schedule, provided that the participant is employed on the vesting date, which is the date
of filing of Pier 1 Imports’ Annual Report on Form 10-K for the applicable fiscal year for Profit Goal performance-based shares and is within thirty days of the end of the measurement period for TSR
performance-based shares.
Grant Date Shares Vest Performance Measure Measurement Periods
04/08/2011 33%, 33% and 34% Profit Goal Fiscal 2012, 2013, 2014
04/06/2012 33%, 33% and 34% Profit Goal Fiscal 2013, 2014, 2015
04/12/2013 33%, 33% and 34% Profit Goal Fiscal 2014, 2015, 2016
04/06/2012 100% (cliff vest) TSR v. peers End of fiscal 2015
04/12/2013 100% (cliff vest) TSR v. peers End of fiscal 2016
Number of shares shown for TSR performance-based shares is the maximum amount if Pier 1 Imports has a percentile ranking of 91% or above within the peer group. The threshold of shares would
vest with TSR performance at 41% of peer group and the target amount of shares would vest with TSR performance of 50-55% of peer group, as set forth in Table 6 in the Compensation Discussion
and Analysis above.
PIER 1 IMPORTS, INC. 2014 Proxy Statement 45