Staples 2006 Annual Report Download - page 51

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35
SUMMARY COMPENSATION TABLE FOR 2006 FISCAL YEAR
The following table sets forth certain information concerning our 2006 fiscal year compensation of our Chief
Executive Officer, our Chief Financial Officer and the three other most highly compensated executive officers of
Staples at the end of our 2006 fiscal year, who we refer to collectively as the “named executive officers.” Information
about the executive compensation for Basil L. Anderson, our former Vice Chairman, is also included because he
served as a named executive officer during part of our 2006 fiscal year. Information about Mr. Anderson’s
compensation for service on our Board of Directors and its committees following his retirement as our Vice Chairman
is included in the Director Compensation for 2006 Fiscal Year table earlier in this proxy statement. The amounts
shown in the Stock Awards and Option Awards columns below represent the accounting expense that we recognized
under FASB Statement No. 123(R) during our 2006 fiscal year for awards from prior years and our 2006 fiscal year,
not the actual amounts paid to or realized by the named executive officers during our 2006 fiscal year. The FASB
123(R) amount as of the grant date for stock awards and stock options generally is spread over the number of months
of service required for the grant to vest. The amount disclosed disregards estimates of forfeitures of awards that are
otherwise included in our financial statement reporting for such awards. There can be no assurance that the FASB
123(R) amount will ever be realized by the named executive officers.
Name and Principal Position Year Salary ($) Bonus ($)
Stock
Awards
($) (1)
Option
Awards
($) (2)
Non-Equity
Incentive Plan
Compensation
($) (3)
Change in
Pension
Value and
Nonqualified
Deferred
Compensation
Earnings
($) (4)
All Other
Compensation
($) Total ($)
Ronald L. Sargent,.....
Chairman & Chief
Executive Officer
2006 1,070,192 0 7,390,786 (5) 3,290,021 (6) 1,523,018 0 437,018 (7) 13,711,035 (8)
John J. Mahoney,......
Vice Chairman & Chief
Financial Officer
2006 650,435 0 3,487,939 (9) 2,610,511 (10) 554,619 0 178,595 (11) 7,482,099 (12)
Michael A. Miles,......
President & Chief
Operating Officer
2006 650,529 0 2,437,252 (13) 1,434,106 (14) 554,596 0 72,843 (15) 5,149,326 (16)
Joseph G. Doody,......
President, North
American Delivery
2006 504,333 0 1,611,098 (17) 754,174 (18) 447,715 0 118,433 (19) 3,435,753 (20)
Demos Parneros,......
President, U.S. Stores
2006 500,379 0 1,694,507 (21) 580,290 (22) 306,760 0 90,930 (23) 3,172,866 (24)
Basil L. Anderson, . . . . .
Former
Vice Chairman ^
2006 47,346 0 1,202,954 (25) 956,890 (26) 28,876 0 27,669 (27) 2,263,735 (28)
^ Mr. Anderson retired as Vice Chairman on March 1, 2006.
(1) Reflects the 2006 expense for restricted stock and performance share awards granted to the named executive
officers. The fair value of these awards is based on the market price of our common stock on the date of grant.
The restricted stock awards vest according to specific schedules, ranging from 16 months to 5 years. The shares of
restricted stock awarded to Mr. Mahoney will fully vest upon his retirement under our rule of 65, should he retire
before the end of the applicable vesting period. Shares of our common stock covered by the performance share
awards are issued at the end of a three year performance period if applicable performance objectives are met,
and may be issued before the end of such period in certain circumstances following a change-in-control of Staples
that are described under the caption “Accelerated Vesting of Awards” following the Grants of Plan-Based
Awards for 2006 Fiscal Year table later in this proxy statement.
(2) For options granted prior to May 1, 2005, the fair value for these options was estimated as of the date of grant
using a Black-Scholes option-pricing model. For stock options granted on or after May 1, 2005, the fair value of
each award is estimated as of the date of grant using a binomial valuation model. Additional information