Pier 1 2016 Annual Report Download - page 116
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COMPENSATION
Compensation Committee Interlocks and
Insider Participation
Each director of Pier 1 Imports who served as a member of the
compensation committee during the fiscal year ended
February 27, 2016 is identified above under the caption “Director
Attendance at Board and Committee Meetings and at the Annual
Meeting of Shareholders.” During fiscal 2016, there were no
compensation committee interlocks or insider participation.
Compensation Risk
Annually, Pier 1 Imports’ internal audit department assists Pier 1
Imports in assessing its compensation risk by conducting a risk
assessment of Pier 1 Imports compensation policies. Internal
audit’s evaluation consists of a review of all incentive plans and
their compensation elements: salary, short- and long-term
incentives, performance measurement mechanics, compensation
features and performance targets. Based on that assessment, Pier
1 Imports does not believe that its compensation policies,
principles, objectives and practices are structured to promote
inappropriate risk-taking by its executives nor inappropriate risk-
taking by its employees whose behavior would be most affected
by performance-based incentives. Pier 1 Imports believes that this
focus on its overall compensation program encourages its
employees to take a balanced approach that focuses on
increasing and sustaining Pier 1 Imports’ profitability.
34 PIER 1 IMPORTS, INC. | 2016 Proxy Statement