BSET » Topics » SUMMARY COMPENSATION TABLE

This excerpt taken from the BSET DEF 14A filed Mar 10, 2008.

SUMMARY COMPENSATION TABLE

 

Name and Principal Position

   Year    Salary
($)
   Bonus
($)
   Stock
Awards

($)
   Option
Awards

($)(1)
   Non-Equity
Incentive Plan
Compensation

($)
   Change in
Pension Value
and Non-
Qualified
Deferred
Compensation
Earnings

($)
   All Other
Compensation

(2)
($)
   Total
($)

Robert H. Spilman, Jr.,

Chief Executive Officer and

President

   2007    335,000    0    0    1,035    0    0    20,481    356,516

Barry C. Safrit,

Senior Vice President and

Chief Financial Officer

   2007    190,000    0    0    564    0    0    1,900    192,464

Jason W. Camp,

Senior Vice President,

Retail

   2007    300,000    50,000    0    564    0    0    5,625    356,189

Keith R. Sanders,

Senior Vice President,

Operations and Logistics

   2007    200,000    0    0    0    0    0    8,000    208,000

John E. Bassett III,

Vice President, Wood

   2007    140,000    0    0    564    0    0    5,600    146,164

 

(1) The option awards are valued under the assumptions contained in Note 12 to our Consolidated Financial Statements except that the assumption of forfeitures is not made.
(2) The amounts reported in the column under the heading “Other Compensation” consist solely of the Company matches under its 401(k) plan, except for the amount reported for Mr. Spilman. The following table sets out Mr. Spilman’s other compensation for fiscal year 2007. Amounts listed below represent the cost to the Company of providing such benefits.

 

Company match to 401(k) Plan

   $ 9,000

Supplemental health insurance

   $ 5,014

Disability

   $ 5,955

Executive physicals

   $ 512

No other Named Executive Officer received personal benefits in excess of $10,000 during fiscal 2007.

 

14


The following table sets forth information concerning individual grants of plan-based awards made during the fiscal year ended November 24, 2007 to the Named Executive Officers.

This excerpt taken from the BSET DEF 14A filed Jan 30, 2006.

Summary Compensation Table

 

          Annual Compensation

  

Long Term

Compensation


    

Name and

Principal Position


  

Fiscal

Year


  

Salary

($)(1)


  

Bonus

($)(2)


  

Other Annual

Compensation

($)(3)


  

Restricted
Stock

Award(s)

($)


  

Securities

Underlying

Options

(#Sh)


  

All Other
Compen-

Sation

($)(4)


Robert H. Spilman, Jr.

President and Chief Executive Officer

   2005
2004
2003
   325,000
318,000
300,000
   150,514
23,751
45,137
   —  
—  
—  
   0
0
0
   0
50,000
0
   24,767
23,125
17,630

Keith R. Sanders

Executive Vice President - Operations

   2005
2004
2003
   195,000
190,000
184,000
   57,797
7,477
22,147
   —  
—  
—  
   0
0
0
   0
20,000
0
   4,660
4,830
4,715

Barry C. Safrit

Vice President and

Chief Financial Officer

   2005
2004
2003
   170,000
162,000
155,000
   50,387
13,356
18,656
   —  
—  
—  
   0
0
0
   0
20,000
0
   4,217
4,155
3,984

Charles T. King

Vice President,

Retail Licensee Program

   2005
2004
2003
   139,667
119,425
102,500
   28,676
3,689
8,275
   —  
—  
—  
   0
0

0
   0
12,500
0
   3,297
2,937
2,628

John E. Bassett, III

Vice President,

Global Sourcing

   2005
2004
2003
   136,000
132,000
128,000
   30,232
7,381
11,555
   —  
—  
—  
   0
0
0
   0
12,500
0
   6,595
6,604
6,623

(1) The salaries shown above include deferred compensation for each named Executive Officer under the Section 401(k) qualified, defined contribution Employee Savings/Retirement Plan.

 

(2) Under the Company’s incentive bonus program, executives are paid cash awards, which are directly related to predetermined performance goals and attainment of Company objectives, including, among other things, in fiscal year 2005, goals for operating income, earnings per share, cash flow, segment operating income and sales, some of which were partially achieved and some not achieved. Awards are made annually following the completion of the fiscal year.

 

(3) No named Executive Officer has received personal benefits during the listed years in excess of the lesser of $50,000 or 10% of annual salary and bonus.

 

(4) Includes amounts accrued under a deferred compensation agreement with one of the named Executive Officers and Company matching contributions under the Company’s Employee Savings/Retirement Plan. During the 2005 fiscal year, the amount accrued under the deferred compensation agreement with Mr. Spilman was $15,107.

 

9


The table below shows, on an aggregated basis, the exercise of stock options during the fiscal year ended November 26, 2005 by each named Executive Officer and the 2005 fiscal year-end value of unexercised in-the-money stock options.

 

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