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WMT » Topics » LONG-TERM INCENTIVE PLANS-AWARDS IN FISCAL 2006

This excerpt taken from the WMT DEF 14A filed Apr 14, 2006.

LONG-TERM INCENTIVE PLANS—AWARDS IN FISCAL 2006

 

Name   Number of
Shares, Units
or Other
Rights (#)		     Performance
or Other
Period Until
Maturation
or Payout		   Estimated Future Payouts
Under Non-Stock Price-Based Plans
      Threshold
(#)		   Target
(#)		   Maximum
(#)

H. Lee Scott, Jr.

   277,304  (1)   3 Years   138,652   277,304   415,956
    459,348  (2)   1 Year   N/A    459,348   N/A 

John B. Menzer

   102,211  (1)   3 Years   51,106   102,211   153,317
    229,674  (2)   1 Year   N/A    229,674   N/A 

Michael T. Duke

   78,792  (1)   3 Years   39,396   78,792   118,188
    183,739  (2)   1 Year   N/A    183,739   N/A 

Thomas M. Schoewe

   52,528  (1)   3 Years   26,264   52,528   78,792
    137,804  (2)   1 Year   N/A    137,804   N/A 

Eduardo Castro-Wright

   56,905  (1)   3 Years   28,453   56,905   85,358
  114,837  (2)   1 Year   N/A    114,837   N/A 
(1) The number of performance shares awarded on January 5, 2006, under the 2005 Stock Incentive Plan, that may ultimately vest will depend on the Company’s performance against two separate pre-established performance measures: average return on investment and average revenue growth for the performance cycle ending January 31, 2009. Any payout of performance shares for this performance cycle must be approved by the CNGC and will be paid in Shares.

 

(2) The performance-based restricted stock awards for Messrs. Menzer, Duke, and Castro-Wright were granted by the CNGC under the 2005 Stock Incentive Plan effective upon their promotions on September 29, 2005. The remaining Named Executive Officers were granted performance-based restricted stock awards on January 5, 2006. The performance measure for the performance-based restricted stock awards is based on meeting or exceeding a pre-established increase in total gross revenue for fiscal 2007 compared to fiscal 2006. If the performance goal is met, the awards to the Named Executive Officers will vest over certain periods:

 

  a. The award for Mr. Scott will vest 50% on January 5, 2009, and 50% on January 5, 2011.

 

  b. The awards for Messrs. Menzer, Duke, and Castro-Wright will vest 50% on September 29, 2008, and 50% on September 29, 2010.

 

  c. Mr. Schoewe’s award will vest 60% on January 5, 2009, and 40% on January 5, 2011.

 

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