Pier 1 2011 Annual Report Download - page 99

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Fiscal 2011 Non-Employee Director Compensation Table
The following table sets forth a summary of the compensation with respect to the fiscal year ended
February 26, 2011 for services rendered in all capacities to Pier 1 Imports by its non-employee directors:
Name
Fees
Earned
or Paid
in Cash(1)
($)
Stock
Awards(2)
($)
Option
Awards
($)
Non-Equity
Incentive Plan
Compensation
($)
Change in Pension
Value and Non-
Qualified Deferred
Compensation
Earnings
($)
All Other
Compensation(3)
($)
Total
($)
John H. Burgoyne $175,000 $33,750 $0 $0 $0 – $208,750
Hamish A. Dodds
(elected January 18, 2011)
$ 17,857 $ 2,232 $0 $0 $0 – $ 20,089
Michael R. Ferrari $235,000 $ 9,375 $0 $0 $0 – $244,375
Brendan L. Hoffman
(elected January 18, 2011)
$ 17,857 $ 2,232 $0 $0 $0 $0 $ 20,089
Robert B. Holland, III
(resigned April 19, 2010)
$ 20,604 $ 5,151 $0 $0 $0 $0 $ 25,755
Karen W. Katz
(did not stand for
re-election June 29, 2010)
$ 50,275 $ 6,284 $0 $0 $0 – $ 56,559
Terry E. London $175,000 $ 9,375 $0 $0 $0 – $184,375
Cece Smith $150,000 $37,500 $0 $0 $0 $0 $187,500
(1) This column represents the amount of cash compensation earned in fiscal 2011 for board and committee service.
As described in footnote 2 below, either 25%, 50%, 90% or 100% of this cash compensation was deferred by
each director.
(2) This column represents the dollar value of Pier 1 Imports’ 25% match on director annual cash retainer fees (but
not committee chair or chairman annual retainers) deferred by each director. This amount was converted to
DSU’s as shown in the table below. The dollar amount represents the grant date fair value of such DSU’s
granted in fiscal 2011 in accordance with the Financial Accounting Standards Board’s Accounting Standards
Codification Topic 718, Compensation-Stock Compensation (formerly Statement of Financial Accounting
Standards No. 123R) (“FASB ASC Topic 718”). The number of DSU’s for each director, other than Messrs.
Dodds and Hoffman, is calculated using the closing price of Pier 1 Imports’ common stock on March 1, 2010 of
$6.78, which was the date the director annual retainer fees were paid. The number of DSU’s for Messrs. Dodds
and Hoffman is calculated using the closing price of Pier 1 Imports’ common stock on January 28, 2011 of
$9.43 and February 25, 2011 of $9.78, respectively, which were the dates on which each of their pro-rata annual
retainer fees were paid (one-twelfth of the annual retainer was pro-rated for service commencing January 18,
2011 and one-twelfth of the annual retainer was paid for February). These closing prices were used to calculate
the number of DSU’s to be received for deferred director fees plus any Pier 1 Imports match. These closing
prices represent the grant date fair value of each DSU in accordance with FASB ASC Topic 718.
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