This excerpt taken from the SPLS DEF 14A filed Apr 27, 2009.
The Compensation Committee also compared total cash compensation and total equity value provided to our Chief Executive Officer, Chief Financial Officer and Chief Operating Officer over the most recent three year period (fiscal 2005-2007) relative to our peer group. Equity value provided was examined both from a paper value and Black Scholes value perspective. The paper value is the current value of the equity (as of July 17, 2008) granted during the three year period and is the sum of the "in the money" value of stock options and the value of the restricted stock awards and actual long term incentive payouts over the three year period. The Black Scholes value is the value of the equity grants at the time of issuance and is the sum of the Black Scholes value of annual stock options as reported by Equilar, the value of the restricted stock awards as stated in the proxy statement, and the value of long term incentive grants at target as reported by Equilar. In performing this three year analysis, as with its 2007 analysis, the Compensation Committee reviewed the results of its analysis from last year. Based on this review of the most recent three year period, the Compensation Committee determined that the aggregate of total cash compensation and equity value provided to our Chief Executive Officer, Chief Financial Officer and Chief Operating Officer during such three year period was appropriate in relation to our performance, in that: