Staples 2012 Annual Report Download - page 51

42
GRANTS OF PLAN-BASED AWARDS FOR 2012 FISCAL YEAR
The following table sets forth summary information regarding grants of plan-based awards made to the named executive
officers for our 2012 fiscal year.
Estimated Possible
Payouts Under Non-Equity
Incentive Plan Awards*
All Other
Stock
Awards:
All Other
Option
Awards:
Name Grant Date
Committee
Approval
Date Threshold ($) Target ($) Maximum ($)
Number of
Shares of
Stock or
Units
(#) (1)*
Number of
Securities
Underlying
Options
(#) (2)*
Exercise
or Base
Price of
Option
Awards
($/Sh)
Grant Date
Fair Value
of Stock
and Option
Awards (3)
Ronald L. Sargent (4) 179,404 1,794,042 3,588,084
(5) 329,000 3,290,000 6,580,000
7/2/2012 6/3/2012 189,371 2,467,504
7/2/2012 6/3/2012 824,068 13.03 2,467,502
Christine T. Komola (4) 20,149 201,485 402,970
(5) 24,170 241,700 483,400
7/2/2012 6/3/2012 13,907 181,208
7/2/2012 6/3/2012 60,516 13.03 181,203
Michael A. Miles, Jr. (4) 71,094 710,940 1,421,880
(5) (6) 148,520 1,485,200 2,970,400
7/2/2012 6/3/2012 85,496 1,114,013
7/2/2012 6/3/2012 372,041 13.03 1,114,000
Joseph G. Doody (4) 48,240 482,398 964,797
(5) 86,770 867,700 1,735,400
7/2/2012 6/3/2012 49,939 650,705
7/2/2012 6/3/2012 217,314 13.03 650,702
Demos Parneros (4) 48,240 482,398 964,797
(5) 86,770 867,700 1,735,400
7/2/2012 6/3/2012 49,939 650,705
7/2/2012 6/3/2012 217,314 13.03 650,702
John J. Mahoney (4) 31,178 311,779 623,558
(5) (6) 148,520 1,485,200 2,970,400
* Equity awards were granted pursuant to our Amended and Restated 2004 Stock Incentive Plan. Non-equity awards were granted pursuant to our
Executive Officer Incentive Plan and our Long Term Cash Incentive Plan.
(1) Unless otherwise noted, restricted stock vests 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 in the circumstances described under the caption "Accelerated
Vesting of Awards" below. Named executive officers are not subject to additional holding periods after equity awards vest.
(2) Stock options vest 25% per year after the date of grant. The exercisability of the options is accelerated in the circumstances described
under the caption "Accelerated Vesting of Awards" below. Named executive officers are not subject to additional holding periods after
such equity awards vest. The stock options expire on July 2, 2022, ten years from the date of grant.
(3) The grant date fair value of the restricted stock granted on July 2, 2012 is $13.03 per share. The grant date fair value of the stock
options granted on July 2, 2012 is $2.99 per share. The fair value of each stock option award is estimated as of the date of grant using
a binomial valuation model. Additional information regarding the assumptions used to estimate the fair value of all stock option awards
is included in Note M in the Notes to the Consolidated Financial Statements contained in our Annual Report on Form 10-K for our
2012 fiscal year.
(4) In March 2012, the Compensation Committee established the performance objectives for fiscal year 2012 under the Executive Officer
Incentive Plan, as well as the threshold, target and maximum payment levels. These performance objectives were not achieved and,
as a result, no amounts were earned in Fiscal 2012 under our Executive Officer Incentive Plan.
(5) In March 2012, the Compensation Committee established the performance objective for the 2012-2014 awards under our Long-Term
Cash Incentive Plan. Actual cash payouts will be determined at the end of the performance cycle based on the extent to which the
performance objective is achieved. Our Compensation Committee will certify the results and determine the amount of the payment to
be made to a participant at the conclusion of the three-year performance cycle. No payout will be earned if threshold performance is
not achieved.
(6) Messrs. Miles and Mahoney will be eligible for a pro-rated award under the Long-Term Cash Incentive Plan based on the number of
days worked during the performance cycle.