Vistaprint 2008 Annual Report Download - page 143

Bonuses.” The amounts were paid quarterly in fiscal 2008 and fiscal 2007 in accordance with the terms of the
Executive Officer Fiscal Year 2008 Bonus Plan and the Executive Officer Fiscal Year 2007 Bonus Plan, as
applicable.
(9) The amounts reported in this column represent payment of health club membership fees.
(10) The amounts reported in this column represent the matching contributions under VistaPrint USA’s 401(k) deferred
savings retirement plan.
(11) The amount represents salary paid to Mr. Grewal in fiscal 2007 from October 2, 2006, the date he commenced
employment, through June 30, 2007, the last full day of fiscal 2007.
Grants of Plan-Based Awards in the Fiscal Year Ended June 30, 2008
The following table contains information regarding plan-based awards granted to each of the Named
Executive Officers during the fiscal year ended June 30, 2008.
Grants of Plan-based Awards
Name Grant Date
All Other
Share
Awards:
Number
of Shares
or Share
Units
(2)(#)
All Other
Option
Awards:
Number of
Securities
Underlying
Options
(3)(#)
Exercise
or Base
Price of
Option
Awards
($/Sh)
Grant Date
Fair Value
of Share
and Option
Awards
($)(1)
Robert Keane ................................. 5/2/2008 — 333,318 34.87(4) 191,883
Harpreet Grewal ............................... — — — — —
Wendy Cebula ................................ 5/2/2008 62,200 — — 81,903
Anne Drapeau ................................. — — — — —
Janet Holian .................................. 5/2/2008 62,200 — — 81,903
(1) The amounts reported in this column represent the grant date fair value for each share-based award computed in
accordance with SFAS 123R. Assumptions used in the calculations for these amounts are included in Note 2 to
our 2008 Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year
ended June 30, 2008.
(2) Consists of restricted share units granted under our 2005 Amended and Restated Equity Incentive Plan that vest
25% one year after the date of grant and 6.25% per quarter thereafter.
(3) Consists of share options granted under our 2005 Amended and Restated Equity Incentive Plan that vest 25% one
year after the date of grant and 6.25% per quarter thereafter.
(4) The exercise price equals the closing price of our common shares on the NASDAQ Global Select Market on the
date of grant.
As discussed above, each of our Named Executive Officers participated in a cash incentive bonus program
in fiscal 2008 and fiscal 2007. Under the cash incentive bonus plans for each of fiscal 2007 and fiscal 2008 each
named executive officer’s bonus was weighted as follows: 50% to achievement of Revenue targets, and 50% to
achievement of earnings per share targets. Targets were based upon budge targets established by the Board of
Directors. For the purposes of the bonus calculations: “Revenue” is defined as consolidated net revenue for
VistaPrint Limited and all of its subsidiaries; and “earnings per share” is defined as earnings per share, on a fully
diluted basis, calculated in accordance with US generally accepted accounting principles but excluding share
option compensation expense determined in accordance with SFAS 123R, for the results of operations of
VistaPrint Limited on a consolidated basis. No quarterly executive officer bonuses would be paid for either
Revenue or earnings per share achievements if, for that quarter, either Revenue or earnings per share was less
than 90% of budged goals. The bonus payments under Non-Equity Incentive Plan Compensation in the Summary
Compensation Table above for fiscal 2007 and fiscal 2008 represent above target payouts on an aggregated
annual basis for fiscal 2007 and fiscal 2008, respectively.
Proxy Statement
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