Vistaprint 2011 Annual Report Download - page 132

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Proxy Statement
calculations for these amounts in Note 8 to our Consolidated Financial Statements included in our Annual
Report on Form 10-K for the fiscal year ended June 30, 2011.
(6) The estimated amounts in this row would be payable to Messrs. Keane and Teunissen in Euros. For pur-
poses of this table, we converted these estimated incentive payments from Euros to U.S. dollars at a cur-
rency exchange rate of 1.439, based on the 30-day average currency exchange rate for June 1-30, 2011,
which was the end of our most recent fiscal year.
(7) These amounts represent target annual cash incentives for our fiscal year ended June 30, 2011, which
were based 50% on our achievement of constant currency revenue targets and 50% on our achievement
of EPS targets for fiscal 2011. These amounts represent potential payments that our named executive offi-
cers would have been eligible to receive under their fiscal 2011 annual cash incentive awards if we had
achieved 100% of both our revenue target and our EPS target for fiscal 2011. In fact, we achieved 98.8%
of our targets for fiscal 2011, so our executive officers received payments that were less than these
amounts. You can find more information on the amounts actually paid to our executive officers under
their fiscal 2011 annual cash incentive awards above in the Compensation Discussion and Analysis
section of this proxy statement.
(8) These amounts represent the maximum amounts that would have been payable under our named execu-
tive officers’ annual cash incentive awards for our fiscal year ended June 30, 2011. The payout under our
annual cash incentives is capped at 250% of each executive officer’s target amount. In fact, based on our
achievement of our targets for fiscal 2011, our executive officers received payments that were less than
these amounts. You can find more information on the amounts actually paid to our executive officers
under their fiscal 2011 annual cash incentive awards above in the Compensation Discussion and Analysis
section of this proxy statement.
(9) These amounts represent target long-term cash incentives. Each named executive officer is eligible to
receive 25% of his or her total award for each of our fiscal years ending June 30, 2011, 2012, 2013 and
2014 based on our achievement of EPS targets for each fiscal year. The EPS targets are expressed as
dollar values in the low, medium and upper ranges. These amounts represent potential aggregate pay-
ments that our executive officers would be eligible to receive over four years under their long-term per-
formance awards if we were to achieve the medium range of our EPS targets in each of the four fiscal
years covered by the awards. You can find more information on the amounts actually paid to our execu-
tive officers for fiscal 2011 under their long-term cash incentive awards above in the Compensation Dis-
cussion and Analysis section of this proxy statement.
(10) These amounts represent the maximum amounts payable under our named executive officers’ long-term
cash incentives. These amounts represent potential aggregate payments that our executive officers would
be eligible to receive over four years under their long-term performance awards if we were to achieve the
upper range of our EPS targets in each of the four fiscal years covered by the awards. You can find more
information on the amounts actually paid to our executive officers for fiscal 2011 under their long-term
cash incentive awards above in the Compensation Discussion and Analysis section of this proxy
statement.
(11) Ms. Blake, Ms. Cebula and Mr. Ruotolo were promoted in November 2010 and received supplemental
grants of annual cash incentives, restricted share units and share options at that time in connection with
their promotions. Mr. Teunissen was promoted in March 2011 and received supplemental grants of an
annual cash incentive, restricted share units and share options at that time in connection with his
promotion.
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