Staples 2007 Annual Report Download - page 39

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Number of
Shares Total Options and
Award Awarded in Grant Date Unvested Shares
Name Grant Date Type FY 2007 Fair Value ($) as of 2007 FYE
Martin Trust ............................ 3/8/2007 RS 600 15,672
6/13/2007 RS 600 14,586
9/13/2007 RS 600 13,254
12/13/2007 RS 1,950 44,636 22,950
3/8/2007 OP 4,500 38,970
6/13/2007 OP 4,500 34,155
9/13/2007 OP 4,500 31,050
12/13/2007 OP 4,500 32,175 231,750
Vijay Vishwanath ......................... 6/13/2007 RS 600 14,586
9/13/2007 RS 600 13,254
12/13/2007 RS 600 13,734 1,800
3/29/2007 OP 22,500 193,950
6/13/2007 OP 4,500 34,155
9/13/2007 OP 4,500 31,050
12/13/2007 OP 4,500 32,175 36,000
Paul F. Walsh ........................... 3/8/2007 RS 600 15,672
6/13/2007 RS 600 14,586
9/13/2007 RS 600 13,254
12/13/2007 RS 900 20,601 21,300
3/8/2007 OP 4,500 38,970
6/13/2007 OP 4,500 34,155
9/13/2007 OP 4,500 31,050
12/13/2007 OP 4,500 32,175 231,750
RS = Restricted stock
OP = Stock option
^ Ms. Barnes and Mr. Crittenden departed from our Board of Directors in June 2007 and September 2007,
respectively, and forfeited any unvested restricted shares and stock options at such time.
Report of the Audit Committee of the Board of Directors
The Audit Committee of Staples’ Board of Directors is composed of three members and acts under a written
charter as amended and restated on December 12, 2006, a copy of which is available at our public web site at
www.staples.com in the Corporate Governance section of the About Staples webpage. The members of the Audit
Committee are independent Directors, as defined by its charter and the rules of the Securities and Exchange
Commission and NASDAQ Stock Market.
The Audit Committee provides independent, objective oversight of Staples’ financial reporting process on behalf
of the Board of Directors. Management has the primary responsibility for the preparation of Staples’ financial
statements and for maintaining an adequate system of disclosure controls and procedures and internal control over
financial reporting for that purpose. In fulfilling its oversight responsibilities, the Audit Committee reviewed and
discussed with management the audited financial statements for the 2007 fiscal year, which review included a
discussion of the quality, not just the acceptability, of the accounting principles, the reasonableness of significant
judgments, and the clarity of disclosures in the financial statements.
The Audit Committee reviewed and discussed with Ernst & Young LLP, Staples’ independent registered public
accounting firm, which is responsible for expressing an opinion on the conformity of those audited financial
statements with generally accepted accounting principles, its judgments as to the quality, not just the acceptability, of
Staples’ accounting principles and such other matters as are required to be discussed with the Audit Committee under
generally accepted auditing standards, including Statement on Auditing Standards 61 (Communication with Audit
29