Staples 2012 Annual Report Download - page 41

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32
The table below sets forth the achievement of goals over the 2010-2012 performance period, target award and actual payout
of the 2010-2012 long term cash awards. The payout was certified in March 2013 by the Committee.
NEO
3 Year Performance Period Achievement
(2010 - 2012) Target Award Payout % of
Target
2010
(EPS,
Sales and
RONA)
2011
(EPS,
Sales and
RONA)
2012 (EPS,
Sales and
Operating
Income)
Ronald L. Sargent 96% 41% 0 $2,550,900 $1,166,226 46%
Christine T. Komola 96% 41% 0 $116,500 $53,262 46%
Michael M. Miles 96% 41% 0 $1,164,400 $532,388 46%
Joseph G. Doody 96% 41% 0 $682,100 $311,844 46%
Demos Parneros 96% 41% 0 $682,100 $311,844 46%
Changes to the 2013 Long Term Incentives
Beginning in fiscal 2013, for our executives, long term cash awards, and annual grants of time based restricted shares
and stock options will be replaced entirely with performance shares. The performance shares will be granted with a three year
performance cycle, with RONA% (50%) and sales growth (50%) goals, set annually. At the end of the three year performance
cycle, TSR will be reviewed over the three year period against TSR for the S&P 500 over the same period. If our TSR for that
period is in the top one-third of the S&P 500, the share payout (if any, based on achievement of the goals) will increase by 25%.
Conversely, if our TSR is in the lower one-third of the S&P 500, the number of shares to be paid out will decrease by 25%.
Prior Year Equity Awards
2010 Special Performance and Retention Share Awards: In March 2013, the Board certified the results of the 2010
Special Performance and Retention Share Awards. Pursuant to the awards, each recipient was eligible to receive shares following
the satisfaction of certain performance objectives over the three year performance cycle, which included fiscal years 2010, 2011
and 2012. For the 2012 plan year of these awards, the Committee approved EPS and RONA as the performance metrics, each
weighted 50%. The EPS goal was set in line with the annual cash bonus awards. The RONA goal for 2012 was set as $12.1 million.
Shares awarded upon certification by the Board vest as follows: 33% on the share payout date, 33% on the first anniversary of
share payout date and the remaining 34% on the second anniversary of share payout date.
The table below sets forth the achievement of goals over the 2010-2012 performance period, target award and actual
payout of shares under the 2010 Special Performance and Retention Share Awards.
NEO* 3 Year Performance Period
Achievement Target Award
(shares) Payout % of
Target
2010
(EPS and
RONA)
2011
(EPS
and
RONA)
2012
(EPS and
RONA)
Ronald L. Sargent 93% 58% 0 281,250 141,891 50%
Michael M. Miles 93% 58% 0 100,000 50,451 50%
Joseph G. Doody 93% 58% 0 60,000 30,270 50%
Demos Parneros 93% 58% 0 60,000 30,270 50%