Pier 1 2010 Annual Report Download - page 134

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(2) Stock options become exercisable in accordance with the vesting schedule below:
Grant Date Vesting
06/23/2006, 04/13/2007, 08/06/2007, 25% per year beginning on the anniversary of grant date.
04/11/2008 and 09/15/2008
(3) As discussed in the Compensation Discussion and Analysis above, 1,000,000 shares of Option 2 vested
upon filing of the 2010 Form 10-K.
(4) Time-based restricted stock awards, other than those granted to Mr. Smith, vest according to the following
schedule:
Grant Date Vesting
04/13/2007, 08/06/2007 and
04/11/2008
33%, 33% and 34%, respectively, on each anniversary of the
grant date provided that the participant is employed at the
vesting date.
(5) See footnote #1 to the “Summary Compensation Table for the Fiscal Years Ended February 27,
2010, February 28, 2009 and March 1, 2008” and footnote #2 to the “Grants of Plan-Based Awards for the
Fiscal Year Ended February 27, 2010” table above for more information regarding these awards. The time-
based restricted stock award granted to Mr. Smith on December 18, 2009 vests one-third per year on the
first three anniversaries of the grant date, provided Mr. Smith is employed on such dates. The time-based
restricted stock awards to be granted to Mr. Smith on February 28, 2010, February 27, 2011 and
February 26, 2012 vest one-third per year on the last day of the fiscal year in which the grant occurred and
on the last day of each of the following two fiscal years, provided Mr. Smith is employed on the last day of
each such fiscal year.
Option Exercises and Stock Vested Table for the Fiscal Year Ended February 27, 2010
The following table provides information for each named executive officer on (a) stock option exercises during
fiscal 2010, including the number of shares acquired upon exercise and the value realized, and (b) the number of
shares for which forfeiture restrictions lapse upon the vesting of time-based restricted stock awards and the value
realized. In each event the value realized is before payment of any applicable withholding tax and broker
commissions.
Name
Option Awards Stock Awards(1)
Number of Shares
Acquired on
Exercise
(#)
Value
Realized on
Exercise
($) Grant Date
Number of Shares
Acquired on
Vesting
(#)
Value
Realized on
Vesting
($)
Alexander W. Smith 0 $0 N/A N/A N/A
Charles H. Turner 0 $0 04/11/2008
04/13/2007
06/23/2006
4,950
3,960
3,740
$4,208
$3,406
$6,956
Michael R. Benkel 0 $0 N/A N/A N/A
Gregory S. Humenesky 0 $0 04/11/2008
04/13/2007
06/23/2006
4,950
3,960
3,740
$4,208
$3,406
$6,956
Sharon M. Leite 0 $0 04/11/2008
08/06/2007
4,950
1,980
$4,208
$4,653
(1) On April 11, 2008, April 13, 2007 and June 23, 2006, Messrs. Turner and Humenesky were each granted 15,000
shares, 12,000 shares and 11,000 shares, respectively, of restricted stock that vest 33%, 33% and 34% on each
anniversary of the grant date provided that the participant is employed at the vesting date. On April 11, 2009, the
forfeiture restrictions lapsed on 4,950 shares with a market price of $0.85 as of that date. On April 13, 2009, the
forfeiture restrictions lapsed on 3,960 shares with a market price of $0.86 as of that date. On June 23, 2009, the
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