Staples 2004 Annual Report Download - page 43

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EXECUTIVE COMPENSATION
The following table sets forth certain information concerning the compensation for each of the last three fiscal
years of our Chief Executive Officer and the four other most highly compensated executive officers of Staples during
the fiscal year ended January 29, 2005 (the ‘‘Senior Executives’’).
SUMMARY COMPENSATION TABLE
Annual Compensation Long Term Compensation
Other Annual All Other
Fiscal Compensation Restricted Stock Common Stock Compensation
Name and Principal Position Year Salary ($) Bonus ($) (1) (2) ($) Awards ($) (3) Options (#) ($) (4)
Ronald L. Sargent .......... 2004 1,000,000 1,734,734 — 2,968,995 (5) 525,000 160,753 (6)
Chairman & Chief Executive 2003 1,000,000 1,354,666 — 10,501,965 (7) 525,000 35,557 (6)
Officer 2002 852,500 1,034,797 — 1,353,990 (8) 562,500 35,195 (6)
John J. Mahoney ........... 2004 570,167 593,536 — 2,509,245 (9) 150,000 92,859 (10)
Exec. Vice President & Chief 2003 544,399 442,687 — 1,172,697 (11) 150,000 85,018 (10)
Administrative Officer 2002 513,750 373,368 — 609,295 (11) 150,000 29,836 (10)
Michael Miles ............. 2004 531,666 553,418 — 1,484,497 (12) 225,000 7,623 (13)
Chief Operating Officer 2003 208,333 163,028 — 2,605,995 (14) 225,000 375 (13)
2002 — — — — — —
Basil L. Anderson ........... 2004 486,734 506,685 — 1,187,598 (15) 180,000 233,779 (16)
Vice Chairman 2003 468,154 380,637 — 1,042,398 (15) 180,000 12,399 (16)
2002 470,708 410,704 183,589 (17) 565,967 (18) 193,500 (19) 7,619 (16)
Joseph G. Doody ........... 2004 468,558 341,748 — 742,248 (20) 75,000 66,577 (21)
President, North American 2003 435,333 229,688 — 1,441,095 (22) 75,000 53,029 (21)
Delivery 2002 386,833 234,469 — 338,497 (23) 225,000 18,443 (21)
(1) Represents amounts paid under Staples’ Executive Officer Incentive Plan for the relevant fiscal year.
(2) In accordance with the rules of the SEC, other compensation in the form of perquisites and other personal
benefits has been omitted for certain Senior Executives because the aggregate amount of such perquisites and
other personal benefits constituted less than the lesser of $50,000 or 10% of the total annual salary and bonus for
the Senior Executive for each year shown. Accordingly, compensation received under our Tax Services
Reimbursement Program and Aircraft Policy is not required to be reported by us. No Senior Executive used our
leased aircraft for personal use during the fiscal year ended January 29, 2005.
(3) In March 2004 and February 2005, we announced that we will pay an annual cash dividend on our common stock.
We paid this dividend on the restricted stock grants reported in this column. Restricted stock awards that are not
Performance Accelerated Restricted Stock Awards, or PARS, cliff vest at the end of three years. See
‘‘Performance Accelerated Restricted Stock Awards.’’
(4) Includes split dollar insurance program and Executive Life Insurance premiums and matching contributions
under our 401(k) and Supplemental Executive Retirement Plans. The split dollar insurance program payments
represent an actuarial equivalent benefit to the Senior Executive from payment of annual premiums by us. Our
matching contributions under our 401(k) Plan are made in the form of Staples common stock that vests on an
annual basis over five years and becomes fully vested for all past and future matching contributions after five
years of employment with us. Until October 1, 2004, our matching contributions under the Supplemental
Executive Retirement Plan were made on the same terms as the matching contributions to the 401(k) Plan.
Beginning on October 1, 2004, matching contributions under our Supplemental Executive Retirement Plan are
made in cash and vest on an annual basis over five years and become fully vested for all past and future matching
contributions after five years of employment with us. With the exception of Messrs. Anderson and Miles, all of
the Senior Executives have been employed by us for more than five years. All distributions to participants under
these plans are paid in cash.
(5) Reflects an award of 150,000 shares of PARS to Mr. Sargent at a per share value of $19.7933. As of January 29,
2005, these restricted shares owned by Mr. Sargent had a total value of $3,213,990. As of January 29, 2005, the
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