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EXECUTIVE COMPENSATION AND COMPENSATION DISCUSSION AND ANALYSIS
www.staplesannualmeeting.com STAPLES 35
2015 Compensation Results
The following tables set forth our results against our pre-
determined, rigorous performance goals, under our incentive
award plans for which there was a payout opportunity in 2015.
For the annual cash incentive plan, prior to determining the
actual payout to be made for 2015, the Committee and
Mr. Sargent discussed the potential payout under the plan in
relation to Staples’ pay-for-performance philosophy. In light of
Staples’ performance in 2015, particularly with respect to Total
Shareholder Return, Mr. Sargent elected to forego any annual
cash incentive payment for 2015.
Annual Cash Incentive Award
Target
Value $ Actual
Value $ Realized Value as
% of Target
Ronald L. Sargent $1,873,812 $010%1
Christine T. Komola $549,426 $181,860 33.1%
Joseph G. Doody $590,095 $195,321 33.1%
Demos Parneros $607,450 $201,066 33.1%
John Wilson $589,248 $195,041 33.1%
1 Mr. Sargent was eligible to receive an annual cash incentive payment of $620,232 but, prior to determination of payout by the Committee, he
elected to forego any annual cash incentive payment for 2015.
Performance Share Award
For the long-term equity plan, 2015 represents the first payout
under the Performance Share awards introduced in 2013 that
vest at the end of three-year performance periods.
• The target value and target number of shares were
determined at the start of the performance period
• The realized value is a function of the number of shares
earned, adjusted for relative total shareholder return and
the stock price when shares are released
• For the 3-year performance period from 2013 – 2015,
cumulative total shareholder return fell in the bottom
one-third of the S&P 500, resulting in a 25% reduction in
shares earned
• As a result, the realized value of performance share
awards was 39.7% of target value
Performance Share Award (2013 – 2015)
Target
Value $ Target
Shares1Shares
Awarded Actual
Value $2Realized Value as
% of Target
Ronald L. Sargent $8,225,000 624,526 336,372 $3,262,808 39.7%
Christine T. Komola $1,549,800 117,677 63,382 $614,805 39.7%
Joseph G. Doody $2,169,100 164,701 88,710 $860,487 39.7%
Demos Parneros $2,169,100 164,701 88,710 $860,487 39.7%
John Wilson $1,518,475 115,299 62,101 $602,380 39.7%
1 Target shares calculated on share price of $13.17 on April 1, 2013 grant date, rounded up to the nearest full share
2 Value based on closing price of $9.70 of Staples stock on date of release (March 2, 2016)