Vistaprint 2009 Annual Report Download - page 154

Download and view the complete annual report

Please find page 154 of the 2009 Vistaprint annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 160

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160

COMPENSATION OF SUPERVISORY BOARD MEMBERS
The following contains information with respect to the compensation earned by our directors, or
compensation expenses that we recognized in the case of share awards and option awards, in the fiscal year
ended June 30, 2009:
Name
Fees
Earned or
Paid in
Cash
($)
Share
Awards
(1)($)
Option
Awards
(1)($)
Total
($)
John J. Gavin, Jr.(2) .......................................... 41,467 44,950 96,978 183,395
Peter Gyenes(3) ............................................. 19,200 15,014 19,280 53,494
George M. Overholser(4) ...................................... 35,000 44,950 43,244 123,194
Louis R. Page(5) ............................................. 41,467 44,950 43,244 129,661
Richard T. Riley(6) .......................................... 42,000 44,950 43,244 130,194
Daniel Ciporin(7) ............................................ 17,622 11,104 36,111 64,837
(1) The amounts reported in these columns represent the dollar amount we recognized for financial statement
reporting purposes pursuant to SFAS 123R in the fiscal year ended June 30, 2009 for all of the director’s
outstanding share-based awards. You can find the assumptions we used in the calculations for these amounts in
Note 2 to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal
year ended June 30, 2009. All share options referenced in this table were granted with an exercise price equal
to the closing price of our common shares on the NASDAQ Global Select Market on the date of grant.
The following are the aggregate number of restricted share units and shares subject to share options held by
each of our non-employee directors at June 30, 2009:
• John J. Gavin, Jr.: 6,557 restricted share units and 26,760 shares subject to share options
• Peter Gyenes: 4,710 restricted share units and 17,389 shares subject to share options
• George M. Overholser: 6,557 restricted share units and 54,742 shares subject to share options
• Louis R. Page: 6,557 restricted share units and 14,742 shares subject to share options
• Richard T. Riley: 6,557 restricted share units and 54,742 shares subject to share options
(2) The grant date fair value of the share-based awards granted to Mr. Gavin during fiscal 2009, computed in
accordance with SFAS 123R, is $163,550.
(3) The grant date fair value of the share-based awards granted to Mr. Gyenes during fiscal 2009, computed in
accordance with SFAS 123R, is $285,508.
(4) The grant date fair value of the share-based awards granted to Mr. Overholser during fiscal 2009, computed
in accordance with SFAS 123R, is $163,550.
(5) The grant date fair value of the share-based awards granted to Mr. Page during fiscal 2009, computed in
accordance with SFAS 123R, is $163,550.
(6) The grant date fair value of the share-based awards granted to Mr. Riley during fiscal 2009, computed in
accordance with SFAS 123R, is $163,550.
(7) Mr. Ciporin resigned as a director in November 2008.
We use a combination of cash and share-based incentive compensation to attract and retain qualified
candidates to serve on our Supervisory Board. When we initially set our directors’ compensation, we considered the
significant amount of time that directors expend in fulfilling their duties to Vistaprint, the skill level that we require
of members of our Supervisory Board, and competitive compensation data from our peer group. Under Dutch law,
we must receive shareholder approval to make any changes to the compensation of the Supervisory Board.
38