Staples 2006 Annual Report Download - page 54

Download and view the complete annual report

Please find page 54 of the 2006 Staples annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

38
GRANTS OF PLAN-BASED AWARDS FOR 2006 FISCAL YEAR
The following table sets forth summary information regarding grants of plan-based awards made to the named
executive officers for our 2006 fiscal year.
Committee
Estimated Possible Payouts
Under Non-Equity Incentive
Plan Awards *
Estimated Future Payouts
Under Equity Incentive Plan
Awards (1) *
All Other
Stock
Awards:
Number
of Shares
of Stock
All Other
Option
Awards:
Number of
Securities
Underlying
Exercise
or Base
Price of
Option
Grant Date
Fair Value
of Stock
Name
Grant
Date
Approval
Date
Threshold
($)
Target
($)
Maximum
($)
Threshold
(#)
Target
(#)
Maximum
(#)
or Units
(#) (2) *
Options
(#) (3) *
Awards
($/Sh)
and Option
Awards
Ronald L. 133,774 1,337,740 2,675,480
Sargent . . 1/30/06 12/13/2005 124,200 138,000 276,000 $ 1,616,670
7/3/2006 6/5/2006 76,700 $ 1,879,150
7/3/2006 6/5/2006 431,250 24.50 $ 3,390,509
7/1/2003 525,000 (5)
John J. 48,783 487,826 975,653
Mahoney . 1/30/06 12/13/2005 56,700 63,000 126,000 $ 738,045
7/3/2006 6/5/2006 41,041 $ 1,005,505
7/3/2006 6/5/2006 230,854 24.50 $ 1,814,512
7/1/2003 150,000 (5)
Michael A. 48,790 487,897 975,794
Miles . . . . 1/30/06 12/13/2005 56,700 63,000 126,000 $ 738,045
7/3/2006 6/5/2006 41,041 $ 1,005,505
7/3/2006 6/5/2006 230,854 24.50 $ 1,814,512
Joseph G. 30,260 302,600 605,200
Doody . . . 1/30/06 12/13/2005 33,210 36,900 73,800 $ 432,284
7/3/2006 6/5/2006 23,125 $ 566,563
7/3/2006
6/5/2006 130,168 24.50 $ 1,023,120
7/1/2003 75,000 (5)
Demos 30,023 300,227 600,455
Parneros . 1/30/06 12/13/2005 33,210 36,900 73,800 $ 432,284
7/3/2006
6/5/2006 23,125 $ 566,563
7/3/2006 6/5/2006 130,168 24.50 $ 1,023,120
7/1/2003 75,000 (5)
Basil L.
Anderson . . (4)
* Equity awards are granted pursuant to our Amended and Restated 2004 Stock Incentive Plan. Non-equity awards
are granted pursuant to our Executive Officer Incentive Plan.
(1) The amounts shown reflect potential shares payable pursuant to the performance share awards for the named
executive officers introduced at the beginning of our 2006 fiscal year for the 2006-2008 performance period. The
threshold amount is 90% of target and maximum is 200% of target. Performance below threshold results in no
payout.
(2) Unless otherwise noted, the restricted stock awards vest 50% on the second anniversary of the date of grant and
50% on the third anniversary of the date of grant. The vesting of these restricted stock awards is accelerated
under certain circumstances. See “Accelerated Vesting of Awards” below. Dividend equivalents will be paid in
cash on the shares of restricted stock listed in the table to the same extent and at the same rate that cash
dividends are paid on our outstanding shares of common stock. The grant date fair value of the restricted stock
awards granted on July 3, 2006 is $24.50 per share.
(3) The stock options awards vest ratably on an annual basis over a four-year period, provided that the option
recipient continues to be employed by us on such dates. The exercisability of the options is accelerated under
certain circumstances. See “Accelerated Vesting of Awards” below. The grant date fair value of the option
awards granted on July 3, 2006 is approximately $7.86 per share.