We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cpi Corp. Common Stock | NYSE:CPY | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.19 | 0.00 | 01:00:00 |
Delaware
(State or other jurisdiction of incorporation or organization)
1706 Washington Ave., St. Louis, Missouri
(
Address of principal executive offices)
|
43-1256674
(I.R.S. Employer Identification No.)
63103
(Zip Code)
|
Title of each class
Common Stock, par value $0.40 per share
|
Name of each exchange on which registered
New York Stock Exchange
|
PART III
|
Page
|
||
Item
10.
|
Directors, Executive Officers and Corporate Governance
|
3
|
|
Item
11.
|
Executive Compensation
|
7
|
|
Item
12.
|
Security Ownership of Certain Beneficial Owners and Management
and Related Stockholder Matters
|
23
|
|
Item
13.
|
Certain Relationships and Related Transactions, and Director Independence
|
24
|
|
Item
14.
|
Principal Accounting Fees and Services
|
25
|
|
PART IV
|
|||
Item 15.
|
Exhibits
and Financial Statement Schedules
|
25
|
|
30
|
|||
Name
|
Principal Occupation, Business Experience and Directorships
|
James J. Abel
|
Mr. Abel, age 65, served as President and Chief Executive Officer of Financial Executives International (FEI) from May 2008 to February 2009. FEI is the preeminent organization representing senior financial executives in dealing with the regulatory agencies involved with corporate financial reporting and internal controls. Mr. Abel retired on December 31, 2007, from positions of Executive Vice President, Secretary, Treasurer and Chief Financial Officer of The Lamson & Sessions Co., a diversified manufacturer and distributor of a broad line of thermoplastic electrical, consumer, telecommunications and engineered sewer products for major domestic markets. Mr. Abel served as an executive officer of The Lamson & Sessions Co. from December 1990 and a director from 2000 until his retirement. Mr. Abel received a B.S. from Purdue University and an MBA from St. John’s University (N.Y.). The Board concluded that Mr. Abel brings the requisite skills and experience to serve as a director of the Company, particularly in the areas of i) financial expertise and executive management experience, through his positions held at FEI and The Lamson & Sessions Co. and as the audit committee financial expert with the Company, ii) outside board experience, through his director positions at The Lamson & Sessions Co. and with various private U.S. companies and non-profit organizations and iii) retail industry and public company experience, through his service as a director of the Company since 2004.
|
Michael Glazer
|
Mr. Glazer, age 63, has served as President and Chief Executive Officer of Mattress Giant Corporation, a specialty bedding retailer, since October 2009. From August 2005 to October 2009, he served as Managing Director of Team Neu, a private equity investment firm, located in Pittsfield, MA. From May 1996 to August 2005, he served as President and Chief Executive Officer of KB Toys, Inc. He has served as director of Stage Stores (NYSE: SSI) since 2001 and served as a director of Big Lots (NYSE: BIG) from 1991 to 2003 and Brookstone and KB Toys, Inc. from 1996 to 2005. Mr. Glazer received a B.A. from the University of California – Berkeley and an MBA from Columbia University. The Board concluded that Mr. Glazer brings the requisite skills and experience to serve as a director of the Company, particularly in the areas of i) retail industry experience, in which he has more than 35 years of leadership experience, including his positions held at Mattress Giant Corporation, KB Toys, Inc., Big Lots, the Bombay Company (formerly listed on the NYSE) and as a director of the Company since 2008, ii) outside board experience, through his director positions at Stage Stores, Brookstone, KB Toys, Inc. and Big Lots, iii) public company experience, through his positions held at Stage Stores, Big Lots and as a director of the Company and iv) executive management experience, through his positions held at Mattress Giant Corporation, Team Neu, KB Toys, Inc., Big Lots and the Bombay Company.
|
Michael Koeneke
|
Mr. Koeneke, age 64, is a Managing Partner and Co-founder of Knightspoint Partners LLC (“Knightspoint”), a private equity firm established in 2003, which is engaged in the business of acquiring, holding or disposing of investments in various companies. He served on the Board of Directors of Ashworth, Inc., a golf apparel company formerly listed on Nasdaq from 2008 to 2009, and on the Board of Directors of Sharper Image Corporation, a multi-channel specialty retailer formerly listed on Nasdaq from 2006 to 2008. Mr. Koeneke was formerly the Co-Head and then Chairman of Global Mergers and Acquisitions at Merrill Lynch & Co., Inc. (“Merrill Lynch”) from 1997 to 2002, and Head of Mergers and Acquisitions at Credit-Suisse First Boston (“CSFB”) from 1989 to 1993. Mr. Koeneke received a B.A. from the University of Michigan and an MBA from the Harvard Business School. The Board concluded that Mr. Koeneke brings the requisite skills and experience to serve as a director of the Company, particularly in the areas of i) executive management experience, through his positions held at Knightspoint, Merrill Lynch and CSFB and ii) retail industry, public company and outside board experience, through his director positions at Ashworth, Inc., the Sharper Image Corporation, and currently, as a director of the Company since 2004.
|
Name
|
Principal Occupation, Business Experience and Directorships
|
Eric Salus
|
Mr. Salus, age 57, has served on the Board of Directors for Sure Fit, Inc., a leading provider of easily-installed furniture covers, slipcovers and decorative accessories, since 2010. Mr. Salus has also served on the Board of Directors and as a consultant for Oneida Ltd., one of the world's largest marketers of stainless steel silverware and flatware, located on Oneida, New York, since 2006. Mr. Salus has served as a retail consultant to various companies, including Sharper Image, and investment funds since 2005 and served on the Board of Directors of Ashworth, Inc., makers of Ashworth and Callaway golf apparel, formerly listed on Nasdaq, from 2007 to 2008. From 2004 to 2005, and 2003 to 2004, Mr. Salus served as President of Macy's Home Store and Bon Macy's, respectively. divisions of Macy's Inc. (NYSE: M), formerly Federated Department Stores. He previously held the positions of Executive Vice President of Home Store and Cosmetics at Macy's from 1997 to 2003; Executive Vice President and Chief Merchandising and Marketing Officer of Dick's Sporting Goods; and senior positions at Foley's Houston and May D&F. Mr. Salus received a B.A. from the University of Missouri. The Board concluded that Mr. Salus has the requisite skills and experiences to serve as a director of the Company, particularly in the areas of i) executive management and retail industry experience, in which he has more than 30 years of experience, including his positions held at Macy's and other leading retailers and as a retail consultant and ii) outside board experience, through his director positions held at Sure Fit, Inc., Oneida Ltd. and Ashworth, Inc.
|
Turner White
|
Mr. White, age 62,
has served as owner of White and Company, LLC, a consulting and investment firm located in Kansas City, Missouri, since May 2004, and as visiting assistant professor of management, Helzberg School of Management, Rockhurst University in Kansas City, Missouri, since July 2006. From May 2000 to May 2004, Mr. White served as President and Chief Executive Officer of Union Station Kansas City, Inc, a non-profit organization. He was Vice President and East region general manager of Cell Net Data Systems, an investor-owned data management and metering supplier to the electric energy industry, from September 1998 through February 2000. From June 1989 to September 1998, Mr. White was Executive Vice President, Corporate Development, of Kansas City Power & Light Company. Mr. White received a B.A. from Colorado College and an MBA from Rockhurst University. The Board concluded that Mr. White brings the requisite skills and experience to serve as a director of the Company, particularly in the areas of i) executive management experience, through his positions held at White and Company, LLC, Union Station Kansas City, Inc. and Kansas City Power & Light Company and ii) retail industry and public company experience, as a director of the Company since 2004.
|
Name
|
Principal Occupation, Business Experience and Directorships
|
David Meyer
|
Executive Chairman,
Mr. Meyer, age 42, has served as a director and Chairman of the Board of the Company since April 2004. From 2004 to 2005, he served in the Company’s interim Office of the Chief Executive. Since 2003, Mr. Meyer has served as a Managing Member of Knightspoint Partners LLC, a firm which he co-founded, that is engaged in the business of acquiring, holding and disposing of investments in various companies. From 1995 to 2002, Mr. Meyer served in various capacities in the investment banking department of Credit Suisse First Boston, including as a director in the Mergers and Acquisitions and Global Industrial and Services Groups in the firm’s London office. From 2007 to 2008, Mr. Meyer served as Chairman of the Board of Directors of Ashworth, Inc., a golf apparel company formerly listed on Nasdaq. From 2006 to 2007, Mr. Meyer served as Chairman of the Compensation Committee of the Board of Directors of the Sharper Image Corporation, a multi-channel specialty retailer formerly listed on Nasdaq. Mr. Meyer received a B.S.E. from Princeton University and an MBA from Stanford University. The Board concluded that Mr. Meyer brings the requisite skills and experience to serve as a director of the Company, particularly in the areas of i) retail industry, public company and outside board experience, through his Chairman and director positions held at Ashworth, Inc., the Sharper Image Corporation and as Chairman of the Company since 2004 and ii) executive management experience, through his positions held at Knightspoint, Credit Suisse First Boston and as interim Chief Executive of the Company.
|
Renato Cataldo
|
President and
Chief Executive Officer. Dr. Cataldo, age 51, joined the Company as its Chief Operating Officer in July 2005 after serving as a consultant to the Company since August 2004. Effective October 10, 2006, he was appointed President and Chief Executive Officer of the Company. From 1998 until his resignation in August 2004, he served as Chief Executive Officer and Chief Technology Officer of Publicis eHealth Solutions, a division of the Publicis Groupe, S.A., an international communications company.
|
Dale Heins
|
Executive Vice President,
Finance, Chief Financial Officer and Treasurer of the Company. Mr. Heins, age 48, was promoted to his current position in April 2008. From July 2005 to April 2008, Mr. Heins served as Vice President, Corporate Controller, Principal Accounting Officer and Assistant Treasurer, after serving the Company in various other financial positions since 1987.
|
Thomas Gallahue |
Executive Vice President,
Operations. Mr. Gallahue, age 60, joined the Company in April 2002 in the position of Vice President, Sales Development and Operations and was appointed to his current position in November 2002. Prior to joining the Company, Mr. Gallahue enjoyed a thirty-year career with Sears, Roebuck & Co. where he held various positions, including Store Manager, Region Product Service Manager, Director of Sales Development for Home Appliances and District General Manager.
|
Keith Laakko |
Executive Vice President,
Chief Marketing Officer. Mr. Laakko, age 45, joined the Company in his current position in January 2006. He served as Category Marketing Director for Consumer Controls Brands of Spectrum Brands from 2004 until he joined the Company. From 2000 to 2004, Mr. Laakko held marketing positions with Eastman Kodak Company, including Director of New Business Development, Business to Business, and Director of Corporate Branding from 2003 to 2004, Director of Global Brand Communication from 2001 to 2003 and Marketing Director, Strategic Web Partnerships and Online Community from 2000 to 2001. He also held marketing positions with The Coca-Cola Company, Hasbro Toys and Mattel.
|
Jane Nelson |
General Counsel
and Secretary. Ms. Nelson, age 61, joined the Company in 1988 as Assistant General Counsel and subsequently served as Associate General Counsel and Assistant Secretary. She was promoted to her current position in 1993.
|
Rose O'Brien |
Vice President,
Finance/Controller and Principal Accounting Officer. Ms. O’Brien, age 50, joined the Company in August 2005 as Assistant Controller and was promoted to her current position in April 2008. Prior to joining the Company, Ms. O’Brien was the Director of Special Projects at Insituform, Inc., a provider of trenchless technology, from September 2004 to July 2005. She was the Controller at Growing Family, Inc., a baby portrait photography company from November 2000 to September 2004. Prior to November 2000, Ms. O’Brien held financial management positions with both public and privately held companies in the St. Louis area and also served for seven years in the Audit Department of Price Waterhouse.
|
●
|
Exceptional individual and team performance should be recognized and rewarded (and thereby encouraged) at all levels of the organization.
|
●
|
Rewards should be tied to the creation of stockholder value and its underlying drivers.
|
●
|
executive compensation consulting services;
|
●
|
assistance with long-term incentive plan design; and
|
●
|
in conjunction with the Omnibus Incentive Plan, consulting services related to overhang/burn rate calculations for equity compensation.
|
Fiscal Year 2010 Peer Group
|
●
|
Annual revenues between one-half to two times the Company’s revenues;
|
●
|
Small box specialty retail companies;
|
●
|
Small box restaurant companies;
|
●
|
Customer service element is critical to business; and/or
|
●
|
Companies that operate in a host environment.
|
●
A.C. Moore Arts & Crafts
|
●
CEC Entertainment
|
●
Gymboree
|
●
Bare Escentuals
|
●
Christopher & Banks
|
●
Hibbett Sports
|
●
Big 5 Sporting Goods
|
●
Dennys Corp
|
●
Jackson Hewitt Tax Service
|
●
Buffalo Wild Wings
|
●
Destination Maternity
|
●
Nutrisystem
|
●
Build-A-Bear Workshop
●
California Pizza Kitchen
|
●
Einstein Noah Restaurant
●
Golfsmith International Holdings
|
●
Shutterfly
●
Steiner Leisure
|
Name and Principal Position | Year |
Salary
($)
|
Stock Awards
($) (1)
|
Option Awards
($) (2)
|
Non-Equity
Incentive Plan
Compensation
($) (3)
|
Change in
Pension Value
($) (4)
|
All Other
Compensation
($) (5)
|
Total
($)
|
||
Renato Cataldo
|
||||||||||
President and Chief
|
2010
|
$ 475,000
|
$ 312,015
|
(6)
|
$ -
|
$ 105,000
|
$ -
|
$ 29,053
|
$ 921,068
|
|
Executive Officer
|
2009
|
$ 475,000
|
$ 29,611
|
(7)
|
$ -
|
$ 21,250
|
$ -
|
$ 12,626
|
$ 538,487
|
|
2008
|
$ 484,135
|
$ 27,113
|
(8)
|
$ 179,501
|
$ 35,000
|
$ -
|
$ 7,266
|
$ 733,015
|
||
Dale Heins
|
||||||||||
Executive Vice
|
2010
|
$ 298,077
|
$ 240,087
|
(6)
|
$ -
|
$ 75,000
|
$ 8,977
|
$ 23,574
|
$ 645,715
|
|
President, Finance,
|
2009
|
$ 280,000
|
$ 24,387
|
(7)
|
$ -
|
$ 17,500
|
$ 17,813
|
$ 10,337
|
$ 350,037
|
|
Chief Financial Officer
|
2008
|
$ 228,806
|
$ 13,556
|
(8)
|
$ 89,751
|
$ 17,500
|
$ -
|
$ 6,511
|
$ 356,124
|
|
and Treasurer (9)
|
||||||||||
David Meyer
|
||||||||||
Executive
|
2010
|
$ 154,500
|
$ 729,334
|
$ -
|
$ -
|
$ -
|
$ 16,086
|
$ 899,920
|
||
Chairman (10)
|
2009
|
$ 51,000
|
$ 278,632
|
$ -
|
$ -
|
$ -
|
$ 2,934
|
$ 332,566
|
||
2008
|
$ 24,000
|
$ 560,810
|
$ 121,154
|
$ -
|
$ -
|
$ 11,288
|
$ 717,252
|
|||
Jim Mills
|
||||||||||
Executive Vice
|
2010
|
$ 142,788
|
$ 206,950
|
(6)
|
$ -
|
$ 69,000
|
$ -
|
$ 291,223
|
$ 709,961
|
|
President, Field
|
2009
|
$ 275,000
|
$ 10,448
|
(7)
|
$ -
|
$ 7,500
|
$ -
|
$ 55,028
|
$ 347,976
|
|
Operations (11)
|
2008
|
$ 105,769
|
$ -
|
$ 74,271
|
$ -
|
$ -
|
$ 474
|
$ 180,514
|
||
Thomas Gallahue
|
||||||||||
Executive Vice
|
2010
|
$ 300,000
|
$ 240,087
|
(6)
|
$ -
|
$ 75,000
|
$ 3,518
|
$ 25,604
|
$ 644,209
|
|
President,
|
2009
|
$ 300,000
|
$ 24,387
|
(7)
|
$ -
|
$ 17,500
|
$ 6,363
|
$ 12,867
|
$ 361,117
|
|
Operations
|
2008
|
$ 305,770
|
$ 23,242
|
(8)
|
$ 64,505
|
$ 30,000
|
$ -
|
$ 9,224
|
$ 432,741
|
|
Keith Laakko
|
||||||||||
Executive Vice
|
2010
|
$ 257,115
|
$ 206,950
|
(6)
|
$ -
|
$ 69,000
|
$ -
|
$ 22,122
|
$ 555,187
|
|
President, Chief
|
2009
|
$ 230,000
|
$ 20,905
|
(7)
|
$ -
|
$ 15,000
|
$ -
|
$ 11,685
|
$ 277,590
|
|
Marketing Officer
|
2008
|
$ 203,846
|
$ 15,484
|
(8)
|
$ 71,801
|
$ 20,000
|
$ -
|
$ 7,240
|
$ 318,371
|
(1)
|
Stock awards issued under the CPI Corp. Omnibus Incentive Plan since May 29, 2008. Prior to this date, stock awards were issued under Predecessor Plans. See Note 13 in the Company’s Annual Report to the Securities and Exchange Commission on Form 10-K for the fiscal year ended February 5, 2011, for discussion of valuation methods related to stock awards. Dividends are earned on restricted stock not yet vested. Such dividends are included in All Other Compensation as they are earned. The amounts in the table reflect the aggregate grant-date fair value of the stock awards issued in the respective fiscal year noted. Stock awards granted in fiscal year 2011 are reflected in the “Security Ownership of Management” table below.
|
(2)
|
Under the CPI Corp. Omnibus Incentive Plan, the Company issued options to the NEO’s in fiscal year 2008 as follows: Mr. Cataldo, 50,000; Mr. Heins, 25,000; Mr. Meyer, 60,000; Mr. Mills, 25,000; Mr. Gallahue, 17,500; and Mr. Laakko, 20,000. These options vest in three equal increments on their anniversary dates, with the exception of Mr. Meyer’s options, which vested 30,000 on both February 7, 2009 and February 6, 2010, and Mr. Gallahue’s options, which vest 7,500 on the first anniversary date and 5,000 both on the second and third anniversary dates.
|
(3)
|
Value of cash portion of performance bonus awarded under the CPI Corp. Performance Plan in fiscal years 2010 and 2009 and under Predecessor Plans in fiscal year 2008. Amounts are granted and paid in the fiscal year subsequent to the fiscal year for which the performance relates. The balance of the bonus was awarded in restricted stock and is reflected in the Stock Awards column.
|
(4)
|
Amounts relate to actuarial changes in pension values related to the pension plan. The table does not include negative values of $11,551 and $2,692 in fiscal year 2008 for Mr. Heins and Mr. Gallahue, respectively.
|
(5)
|
Detail of All Other Compensation is as follows:
|
Name
|
Year
|
Dividends Paid
on Stock
not
yet vested
($)
|
Company
401 (k)
Contribution
($)
|
Life Insurance
Premiums
($)
|
Other
($)
|
Total
($)
|
|||||||||||||
Renato Cataldo
|
2010
|
$ | 17,257 | $ | 8,250 | $ | 1,146 | $ | 2,400 | $ | 29,053 | ||||||||
2009
|
$ | 1,428 | $ | 8,250 | $ | 748 | $ | 2,200 | $ | 12,626 | |||||||||
2008
|
$ | 824 | $ | 5,750 | $ | 692 | $ | - | $ | 7,266 | |||||||||
Dale Heins
|
2010
|
$ | 13,291 | $ | 8,250 | $ | 533 | $ | 1,500 | $ | 23,574 | ||||||||
2009
|
$ | 1,176 | $ | 7,212 | $ | 494 | $ | 1,455 | $ | 10,337 | |||||||||
2008
|
$ | 412 | $ | 4,725 | $ | 414 | $ | 960 | $ | 6,511 | |||||||||
David Meyer
|
2010
|
$ | 16,086 | $ | - | $ | - | $ | - | $ | 16,086 | ||||||||
2009
|
$ | 2,934 | $ | - | $ | - | $ | - | $ | 2,934 | |||||||||
2008
|
$ | 11,288 | $ | - | $ | - | $ | - | $ | 11,288 | |||||||||
Jim Mills
|
2010
|
$ | 3,816 | $ | - | $ | 323 | $ | 287,084 | (11 | ) | $ | 291,223 | ||||||
2009
|
$ | 504 | $ | 8,250 | $ | 537 | $ | 45,737 | (11 | ) | $ | 55,028 | |||||||
2008
|
$ | - | $ | - | $ | 104 | $ | 370 | $ | 474 | |||||||||
Thomas Gallahue
|
2010
|
$ | 13,291 | $ | 7,500 | $ | 3,013 | $ | 1,800 | $ | 25,604 | ||||||||
2009
|
$ | 1,176 | $ | 8,250 | $ | 1,641 | $ | 1,800 | $ | 12,867 | |||||||||
2008
|
$ | 706 | $ | 5,750 | $ | 1,268 | $ | 1,500 | $ | 9,224 | |||||||||
Keith Laakko
|
2010
|
$ | 11,928 | $ | 8,250 | $ | 444 | $ | 1,500 | $ | 22,122 | ||||||||
2009
|
$ | 1,684 | $ | 8,250 | $ | 376 | $ | 1,375 | $ | 11,685 | |||||||||
2008
|
$ | 1,147 | $ | 5,750 | $ | 343 | $ | - | $ | 7,240 |
(6)
|
The number of restricted shares granted to NEO’s in fiscal year 2010 (for fiscal year 2009 performance) was determined by dividing 50% of the value of their total bonuses by the closing price of the Company’s common stock at the end of fiscal year 2009 ($13.11). The same formula was used for all other recipients of restricted shares pursuant to the Omnibus Incentive Plan. The Compensation Committee selected the closing price of the Company’s common stock on the last trading day of the fiscal year because the awards were for fiscal year 2009 performance. The awards were made on March 29, 2010. The amounts in the table reflect the aggregate grant-date fair value of the shares awarded on March 29, 2010.
|
(7)
|
The number of restricted shares granted to NEO’s in fiscal year 2009 (for fiscal year 2008 performance) was determined by dividing 50% of the value of their total bonuses by the closing price of the Company’s common stock at the end of fiscal year 2008 ($7.14). The same formula was used for all other recipients of restricted shares pursuant to the Omnibus Incentive Plan. The Compensation Committee selected the closing price of the Company’s common stock on the last trading day of the fiscal year because the awards were for fiscal year 2008 performance. The awards were made on April 27, 2009. The amounts in the table reflect the aggregate grant-date fair value of the shares awarded on April 27, 2009.
|
(8)
|
The number of restricted shares granted to NEO’s in fiscal year 2008 (for fiscal year 2007 performance) was determined by dividing 50% of the value of their total bonuses by the closing price of the Company’s common stock at the end of fiscal year 2007 ($20.40). The same formula was used for all other recipients of restricted shares pursuant to the Performance Plan. The Compensation Committee selected the closing price of the Company’s common stock on the last trading day of the fiscal year because the awards were for fiscal year 2007 performance. The awards were made on March 5, 2008. The amounts in the table reflect the aggregate grant-date fair value of the shares awarded on March 5, 2008.
|
(9)
|
Mr. Heins was appointed Chief Financial Officer on April 19, 2008.
|
(10)
|
On April 19, 2010, Mr. Meyer was appointed Executive Chairman of the Board of Directors. Mr. Meyer previously served as a non-Executive Chairman. As such, Mr. Meyer’s compensation in fiscal years 2008 and 2009 and from February 7, 2010 through April 18, 2010 related to his services as the Company’s non-Executive Chairman of the Board and from April 19, 2010 through February 5, 2011 related to his services as the Company’s Executive Chairman of the Board. Mr. Meyer’s total 2010 fiscal year compensation for both positions held during fiscal year 2010 is included in the table above.
|
Grant
|
Number of
|
Vesting
|
|
Date
|
Shares Granted
|
Date
|
Explanation
|
2/12/10
|
2,860
|
2/5/11
|
Director's election to receive restricted stock in lieu of cash compensation for fiscal year 2010 board and committee retainers.
|
2/19/10
|
3,823
|
5/1/10
|
Fiscal year 2010 first quarter retainer pursuant to an amendment dated February 12, 2010, to the previous Chairman's Agreement.
|
3/29/10
|
27,403
|
3/29/10
|
Chairman's bonus for fiscal year 2009 performance pursuant to an amendment dated September 25, 2009, to the previous Chairman's Agreement.
|
4/19/10
|
4,290.5
|
2/5/11
|
Long-term incentive plan restricted stock, pursuant to the Executive Chairman's Agreement dated April 19, 2010.
|
4,290.5
|
2/4/12
|
||
4,290.5
|
2/2/13
|
||
4,290.5
|
2/1/14
|
(11)
|
Mr. Mills joined the Company as Executive Vice President, Field Operations, in September 2008. Upon his joining the Company, Mr. Mills entered into an employment agreement. Pursuant to this agreement, Mr. Mills was entitled to receive reimbursement for certain moving and temporary housing expenses. Such expenses in the amount of $43,517 were reimbursed to Mr. Mills in fiscal year 2009. Mr. Mills left the Company in August 2010 and, pursuant to his separation and release agreement, received a lump sum gross severance payment of $275,000 and $10,974 for unused, accrued vacation hours. The above amounts are included in the respective fiscal years in the “Other” column within the “All Other Compensation” table.
|
Payouts Under Non-Equity Incentive Plan Awards
|
Payouts Under Equity Incentive Plan Awards
|
Grant Date Fair Value of Stock Awards ($) (3)
|
||||||||
Name
|
Plan Name
|
Grant Date (1)
|
Threshold ($)
|
Target ($) (2)
|
Max ($)
|
Threshold (#)
|
Target (#) (3)
|
Max (#)
|
||
Renato Cataldo
|
Omnibus Incentive Plan
|
(4)
|
3/12/10
|
$ -
|
$ -
|
$ -
|
-
|
15,000
|
-
|
$ 200,850
|
Omnibus Incentive Plan
|
(4)
|
3/29/10
|
$ -
|
$ 105,000
|
$ -
|
-
|
8,009
|
-
|
$ 111,165
|
|
Dale Heins
|
Omnibus Incentive Plan
|
(4)
|
3/12/10
|
$ -
|
$ -
|
$ -
|
-
|
12,000
|
-
|
$ 160,680
|
Omnibus Incentive Plan
|
(4)
|
3/29/10
|
$ -
|
$ 75,000
|
$ -
|
-
|
5,721
|
-
|
$ 79,407
|
|
David Meyer (5)
|
Omnibus Incentive Plan
|
(4)
|
2/12/10
|
$ -
|
$ -
|
$ -
|
-
|
2,860
|
-
|
$ 38,696
|
Omnibus Incentive Plan
|
(4)
|
2/19/10
|
$ -
|
$ -
|
$ -
|
-
|
3,823
|
-
|
$ 53,713
|
|
Omnibus Incentive Plan
|
(4)
|
3/29/10
|
$ -
|
$ -
|
$ -
|
-
|
27,403
|
-
|
$ 380,354
|
|
Omnibus Incentive Plan
|
(4)
|
4/19/10
|
$ -
|
$ -
|
$ -
|
-
|
17,162
|
-
|
$ 256,572
|
|
Jim Mills
|
Omnibus Incentive Plan
|
(4)
|
3/12/10
|
$ -
|
$ -
|
$ -
|
-
|
10,000
|
-
|
$ 133,900
|
Omnibus Incentive Plan
|
(4)
|
3/29/10
|
$ -
|
$ 69,000
|
$ -
|
-
|
5,263
|
-
|
$ 73,050
|
|
Thomas Gallahue
|
Omnibus Incentive Plan
|
(4)
|
3/12/10
|
$ -
|
$ -
|
$ -
|
-
|
12,000
|
-
|
$ 160,680
|
Omnibus Incentive Plan
|
(4)
|
3/29/10
|
$ -
|
$ 75,000
|
$ -
|
-
|
5,721
|
-
|
$ 79,407
|
|
Keith Laakko
|
Omnibus Incentive Plan
|
(4)
|
3/12/10
|
$ -
|
$ -
|
$ -
|
-
|
10,000
|
-
|
$ 133,900
|
Omnibus Incentive Plan
|
(4)
|
3/29/10
|
$ -
|
$ 69,000
|
$ -
|
-
|
5,263
|
-
|
$ 73,050
|
(1)
|
With the exception of Mr. Meyer, awards to NEO’s were granted on March 12, 2010, and March 29, 2010, and relate to long-term incentives and fiscal year 2009 service, respectively.
|
(2)
|
Amounts are cash bonuses for 2009 performance awards under the CPI Corp. Performance Plan which were granted and paid in fiscal year 2010.
|
(3)
|
With the exception of Mr. Meyer, the portion of a participant’s incentive compensation award is calculated by dividing (1) that portion of the participant’s incentive compensation award payable in restricted shares for the fiscal year by (2) the fair market value of one share of common stock measured as of the last day of the fiscal year. The restricted shares are subject to restrictions on transferability, as well as vesting and forfeiture restrictions. Dividends are paid on restricted shares. Termination due to death, disability or normal retirement (65 or older) results in automatic waiver of the uncompleted portion of restriction. The shares vest automatically upon a change of control.
|
(4)
|
With the exception of Mr. Meyer, includes incentive plan grants in fiscal year 2010 related to fiscal year 2009 service and long-term incentives and reflect cash and stock awards granted under the CPI Corp. Performance Plan, pursuant to the CPI Corp. Omnibus Incentive Plan. All cash awards were paid as of the fiscal year 2010 year-end. Restricted stock awarded on March 29, 2010, for fiscal year 2009 service, vested as of the fiscal year 2010 year-end. Restricted stock awarded on March 12, 2010, related to long-term incentives, vests in 25% increments on the last day of the fiscal year over a four year period commencing with fiscal year 2010. Amounts related to 2010 service were granted subsequent to the 2010 fiscal year-end and therefore are not included in this table. Such grants made in fiscal year 2011 for fiscal year 2010 service are reflected in footnote 1 to the “Security Ownership of Management” table below.
|
(5)
|
Includes incentive plan grants and certain grants related to Mr. Meyer’s service as Chairman of the Board for the period February 7, 2010 to April 18, 2010, as well as incentive plan grants related to Mr. Meyer’s service as Executive Chairman of the Board for the period April 19, 2010 to February 5, 2011. Stock awards were granted under the Chairman’s Agreement and Executive Chairman’s Agreement for the respective periods noted above, pursuant to the CPI Corp. Omnibus Incentive Plan. See footnote 10 in the “Summary Compensation Table” above for details of the various stock awards granted to Mr. Meyer during fiscal year 2010. Amounts related to 2010 performance were granted subsequent to the 2010 fiscal year-end and therefore are not included in the table above. Such grants made in fiscal year 2011 for fiscal year 2010 service are reflected in the “Amount of Record” column within the “Security Ownership of Management” table below.
|
Name
|
Option Awards
|
Stock Awards
|
|||||||
Number of Securities Underlying Unexercised Options (#) Exercisable (1)
|
Number of Securities Underlying Unexercised Options (#) Unexercisable (1)
|
Equity Incentive
Plan Awards:
Number
of
Securities
Underlying Unexercised
Unearned
Options (#) (1)
|
Option
Exercise
Price ($)
|
Option
Expiration
Date
|
Number of
Shares or Units
of Stock That Have Not
Vested (#)
|
Market Value
of Shares or Units of Stock That Have Not Vested ($)
|
Equity Incentive
Plan Awards:
Number
of Unearned
Shares, Units
or Other Rights
That Have Not
Vested (#) (2)
|
Equity Incentive
Plan Awards:
Market or Payout
Value of Unearned Shares, Units or
Other Rights That
Have Not
Vested ($) (2)
|
|
Renato Cataldo
|
-
|
16,667
|
16,666
|
$ 13.58
|
8/14/18
|
-
|
$ -
|
11,250
|
$ 218,813
|
Dale Heins
|
8,334
|
8,333
|
8,333
|
$ 13.58
|
8/14/18
|
-
|
$ -
|
9,000
|
$ 175,050
|
David Meyer
|
10,000
|
50,000
|
-
|
$ 12.21
|
9/22/13
|
-
|
$ -
|
12,872
|
$ 250,360
|
Jim Mills
|
-
|
-
|
-
|
$ -
|
N/A
|
-
|
$ -
|
-
|
$ -
|
Thomas Gallahue
|
7,500
|
5,000
|
5,000
|
$ 13.58
|
8/14/18
|
-
|
$ -
|
9,000
|
$ 175,050
|
Keith Laakko
|
-
|
6,667
|
6,666
|
$ 13.58
|
8/14/18
|
-
|
$ -
|
7,500
|
$ 145,875
|
(1)
|
With the exception of Mr. Meyer and Mr. Gallahue, the stock options vest equally in three increments on the first three anniversary dates after the August 14, 2008, grant date for Dr. Cataldo, Mr. Heins and Mr. Laakko. Mr. Meyer’s options vested 30,000 on both February 7, 2009 and February 6, 2010, and Mr. Gallahue’s options, vest 7,500 on the first anniversary date and 5,000 both on the second and third anniversary dates. See footnote 2 to the “Summary Compensation Table” for further description of the vesting of stock options awarded pursuant to the Omnibus Incentive Plan.
|
(2)
|
Represents shares awarded on March 12, 2010, which vest in 25% increments on the last day of the fiscal year for fiscal years 2011, 2012 and 2013 (the first 25% increment vested on February 5, 2011, and therefore, was no longer restricted as of the 2010 fiscal year-end). The respective payout values were calculated by multiplying the closing market price of the Company’s common stock at the end of fiscal year 2010 ($19.45) by the number of shares outstanding. See footnote 6 to the “Summary Compensation Table” for further details of this restricted stock awarded pursuant to the Omnibus Incentive Plan.
|
Option Awards
|
Stock Awards
|
|||||||||||||||
Name
|
Number of Shares
Acquired on Exercise (#) (1)
|
Value Realized
on Exercise ($) (1)
|
Number of Shares
Acquired on Vesting (#) (2)
|
Value Realized
on Vesting ($) (2)
|
||||||||||||
Renato Cataldo
|
16,667 | $ | 151,336 | 11,759 | $ | 228,713 | ||||||||||
Dale Heins
|
- | $ | - | 8,721 | $ | 169,623 | ||||||||||
David Meyer (3)
|
- | $ | - | 38,377 | $ | 620,855 | ||||||||||
Jim Mills (4)
|
- | $ | - | - | $ | - | ||||||||||
Thomas Gallahue
|
- | $ | - | 8,721 | $ | 169,623 | ||||||||||
Keith Laakko
|
6,667 | $ | 60,003 | 8,291 | $ | 161,260 |
(1)
|
The table above does not include stock options vested in fiscal year 2010 of 16,667, 8,333, 50,000, 5,000 and 6,667 for Dr. Cataldo and Messrs. Heins, Meyer, Gallahue and Laakko, respectively, as these options were not exercisable as of the fiscal year 2010 year-end. See footnote 2 to the “Summary Compensation Table” and footnote 1 to the “Outstanding Equity Awards at 2010 Fiscal Year- End” table for details on exercise requirements.
|
(2)
|
With the exception of Mr. Meyer, shares represent restricted stock awarded in fiscal year 2010 (for fiscal year 2009 performance) that vested on the last day of fiscal year 2010. The respective value realized is calculated by multiplying the number of shares acquired on vesting by the Company’s closing stock price on the date of vesting.
|
(3)
|
Shares represent restricted stock granted to Mr. Meyer in fiscal year 2010 that vested on various dates throughout fiscal year 2010 and were awarded as follows:
|
Grant
|
Number of
|
Vesting
|
|
Date
|
Shares Granted
|
Date
|
Explanation
|
2/12/10
|
2,860
|
2/5/11
|
Director's election to receive restricted stock in lieu of cash compensation for fiscal year 2010 board and committee retainers.
|
2/19/10
|
3,823
|
5/1/10
|
Fiscal year 2010 first quarter retainer pursuant to an amendment dated February 12, 2010, to the previous Chairman's Agreement.
|
3/29/10
|
27,403
|
3/29/10
|
Chairman's bonus for fiscal year 2009 performance pursuant to an amendment dated September 25, 2009,
to the previous Chairman's Agreement.
|
4/19/10
|
4,291
|
2/5/11
|
Portion of long-term incentive award that vested in fiscal year 2010, pursuant to the Executive Chairman's Agreement dated April 19, 2010.
|
(4)
|
Mr. Mills left the Company in August 2010. Based on the vesting and exercise requirements for his option awards and vesting requirements for his stock awards, these awards were forfeited at the time of his departure.
|
Name
|
Plan Name
|
Number of Years of
Credited Service (#)
|
Present Value of Accumulated Benefits ($)
|
Payments During Last
Fiscal Year ($)
|
|||||||||
Renato Cataldo (1)
|
Retirement Plan
|
- | $ | - | $ | - | |||||||
Dale Heins (2)
|
Retirement Plan
|
17 | $ | 65,869 | $ | - | |||||||
David Meyer (3)
|
Retirement Plan
|
- | $ | - | $ | - | |||||||
Jim Mills (1)
|
Retirement Plan
|
- | $ | - | $ | - | |||||||
Thomas Gallahue (2)
|
Retirement Plan
|
2 | $ | 34,680 | $ | - | |||||||
Keith Laakko (1)
|
Retirement Plan
|
- | $ | - | $ | - |
(1)
|
Years of actual service differ from the years of credited service because the plan was frozen in 2004 and Dr. Cataldo, Mr. Mills and Mr. Laakko were not yet employed. See description of the retirement plan below.
|
(2)
|
Years of actual service differ from the years of credited service because the plan was frozen in 2004.
|
(3)
|
Mr. Meyer is not eligible for the retirement plan.
|
Renato Cataldo
|
Dale Heins
|
David Meyer (1)
|
Thomas Gallahue
|
Keith Laakko
|
||
Termination with cause (2)
|
||||||
Pension (3)
|
$ -
|
$ 65,869
|
$ -
|
$ 34,680
|
$ -
|
|
Termination without cause (2)
|
||||||
Salary
|
$ 475,000
|
$ 300,000
|
$ -
|
$ 300,000
|
$ 260,000
|
|
Pension (3)
|
-
|
65,869
|
-
|
34,680
|
-
|
|
Total
|
$ 475,000
|
$ 365,869
|
$ -
|
$ 334,680
|
$ 260,000
|
|
Retirement or resignation
|
||||||
Pension (3)
|
$ -
|
$ 65,869
|
$ -
|
$ 34,680
|
$ -
|
|
Death
|
||||||
Pension (3)
|
$ -
|
$ 65,869
|
$ -
|
$ 34,680
|
$ -
|
|
Life insurance
|
650,000
|
600,000
|
-
|
600,000
|
520,000
|
|
Total
|
$ 650,000
|
$ 665,869
|
$ -
|
$ 634,680
|
$ 520,000
|
|
Disability
|
||||||
Disability benefits (4)
|
$ 1,368,457
|
$ 1,433,256
|
$ -
|
$ 560,633
|
$ 1,518,469
|
|
Pension (3)
|
-
|
65,869
|
-
|
34,680
|
-
|
|
Total
|
$ 1,368,457
|
$ 1,499,125
|
$ -
|
$ 595,313
|
$ 1,518,469
|
|
Change of Control (5)
|
||||||
Restricted stock awards (5)
|
$ 218,813
|
$ 175,050
|
$ 250,360
|
$ 175,050
|
$ 145,875
|
|
Stock option awards (5)
|
195,665
|
146,750
|
362,000
|
102,725
|
78,265
|
|
Total
|
$ 414,478
|
$ 321,800
|
$ 612,360
|
$ 277,775
|
$ 224,140
|
|
(1)
|
With the exception of the items included in footnote 5 below, Mr. Meyer is not eligible for future payments.
|
(2)
|
Termination for cause is triggered by an act in bad faith and to the detriment of the Company, refusal or failure to act in substantial accordance with any written material direction or order of the Company, repeated unfitness or unavailability for service, disregard of the Company’s rules or policies after reasonable notice and opportunity to cure, conviction of a crime involving dishonesty, breach of trust or physical or emotional harm to any person, breach of the employment agreement or other contractual obligation to the Company. These benefits are paid in a lump sum at the time of termination.
|
(3)
|
Retirement is the voluntary or involuntary termination of employment after attaining age 65. Employees who reach age 55 and have 15 years of service may elect early retirement benefits. Retirement benefits are payable monthly for life. Options to cover spouses are available for a reduced benefit. If an employee dies prior to retirement age, his or her spouse is entitled to 50% of his benefits at the employee’s retirement age. If an employee terminates prior to retirement age, he or she can apply for vested pension benefits once they reach retirement age.
|
(4)
|
Disability benefits for all NEO’s are under the same plan as all salaried employees.
|
(5)
|
Pursuant to restricted stock and stock option agreements with the NEO’s, upon a change of control, all outstanding restricted stock awards becomes immediately vested and all unexercisable stock options become immediately vested and exercisable as of the date of the change of control. For restricted stock awards, the values in the table above are calculated by multiplying the number of outstanding shares of restricted stock as of February 5, 2011 by the Company’s closing stock price on February 5, 2011 ($19.45). For stock option awards, the values in the table above are calculated by multiplying the number of unexercisable stock options as of February 5, 2011, by the difference between the Company’s closing stock price on February 5, 2011 and the exercise price, as noted in the “Outstanding Equity Awards at 2010 Fiscal Year-End” table above.
|
Name
|
Fees Earned or
Paid in Cash ($)
|
Stock Awards
($) (1)
|
All Other Compensation ($) (2)
|
Total ($)
|
||||||||||||
David Meyer (3)
|
$ | 4,500 | $ | 472,763 | $ | 3,214 | $ | 480,477 | ||||||||
James Abel
|
$ | 52,000 | $ | 136,355 | $ | 7,649 | $ | 196,004 | ||||||||
Michael Glazer
|
$ | 37,500 | $ | 120,863 | $ | 6,607 | $ | 164,970 | ||||||||
Michael Koeneke
|
$ | 37,500 | $ | 120,863 | $ | 6,607 | $ | 164,970 | ||||||||
Eric Salus (4)
|
$ | 35,712 | $ | 61,966 | $ | 1,310 | $ | 98,988 | ||||||||
Turner White
|
$ | 48,000 | $ | 128,602 | $ | 7,127 | $ | 183,729 |
(1)
|
The Board of Directors maintains a CPI Corp. Non-Employee Directors Restricted Stock Policy (the "Policy") pursuant to the Omnibus Incentive Plan. The purpose of the Policy is to advance the interests of the Company and its stockholders by enabling the directors who are not employees of the Company to elect each year to receive shares of restricted common stock of the Company ("Restricted Shares") in lieu of up to 100%, but not less than 50%, of the $30,000 annual retainer in cash they receive as directors of the Company. Directors who chair committees of the Board may also elect to receive restricted shares in lieu of an annual retainer in cash for their service as committee chairmen. Additionally, directors are also awarded $70,000 in restricted stock as part of their annual retainer, valued as of the first day of the fiscal year and vesting as of the last day of the fiscal year. These restricted shares are included in the table above, valued at the aggregate grant-date fair value of the shares issued on April 15, 2010.
|
|
(2)
|
All Other Compensation represents dividends earned on restricted stock awards prior to vesting. |
|
(3)
|
On April 19, 2010, Mr. Meyer was appointed Executive Chairman of the Board of Directors. Mr. Meyer previously served as a non-Executive Chairman. The amounts included in the table above represent Mr. Meyer’s compensation from February 7, 2010 through April 18, 2010 related to his services as the Company’s non-Executive Chairman of the Board. Mr. Meyer’s total 2010 fiscal year compensation for both positions held during fiscal year 2010 is included in the “Summary Compensation Table”. See footnote 10 to the “Summary Compensation Table” for the details of his compensation as it relates to both positions during fiscal year 2010.
|
|
(4)
|
Mr. Salus was elected to the Board of Directors in August 2010. Included in the “Fees Earned or Paid in Cash” column in the table above is $3,000 paid to Mr. Salus for consulting work he performed during fiscal year 2010.
|
Name
|
Number of Shares
|
Percent
|
Van Den Berg Management
|
818,197 (1) |
11.6%
|
(1)
|
The address of this stockholder is 805 Las Cimas Parkway, Suite 430, Austin, Texas 78746.
|
|
Security Ownership of Management
|
Name
|
Amount of Record
|
Restricted Shares (1)
|
Vested Options (2)
|
Total
|
Percent of Shares Outstanding
|
James Abel
|
30,520
|
6,651
|
-
|
37,171
|
*
|
Michael Glazer
|
20,354
|
5,526
|
-
|
25,880
|
*
|
Michael Koeneke
|
37,440
|
5,526
|
-
|
42,966
|
*
|
Eric Salus
|
2,619
|
3,598
|
-
|
6,217
|
*
|
Turner White
|
22,431
|
5,526
|
-
|
27,957
|
*
|
David Meyer
|
240,532
|
23,155
|
10,000
|
273,687
|
3.9%
|
Renato Cataldo
|
28,685
|
17,707
|
-
|
46,392
|
*
|
Dale Heins
|
10,163
|
14,826
|
-
|
24,989
|
*
|
Jim Mills
|
-
|
-
|
-
|
-
|
*
|
Thomas Gallahue
|
9,395
|
14,675
|
-
|
24,070
|
*
|
Keith Laakko
|
12,382
|
11,934
|
-
|
24,316
|
*
|
Directors and Executive Officers
|
|||||
as a group (13 persons)
|
431,185
|
122,124
|
10,000
|
563,309
|
8.0%
|
(1)
|
For non-employee directors, with the exception of Mr. Salus, the restricted shares in the table include restricted shares awarded in lieu of the cash portion of the 2011 Board retainer and committee chair retainers made on February 16, 2011. For all non-employee directors, the restricted shares in the table also include the non-elective restricted share portion of the 2011 Board retainer made on February 16, 2011.
|
(2)
|
The table does not include stock options vested in fiscal year 2010 of 16,667, 8,333, 5,000 and 6,667 for Dr. Cataldo and Messrs. Heins, Gallahue and Laakko, respectively, or stock options vested in fiscal years 2009 and 2008 of 20,000 and 30,000, respectively, for Mr. Meyer, as these options were not exercisable as of the fiscal year 2010 year-end, and it is uncertain if they will be exercisable within 60 days after May 9, 2011; see footnote 2 to the “Summary Compensation Table” and footnote 1 to the “Outstanding Equity Awards at 2010 Fiscal Year- End” table for details on exercise requirements.
|
Fiscal 2010
|
Fiscal 2009
|
|||||||
Audit Fees
|
$ | 630,000 | $ | 652,819 | ||||
Audit-Related Fees
|
- | 4,658 | ||||||
Tax Fees
|
66,362 | - | ||||||
All Other Fees
|
- | - | ||||||
Total
|
$ | 696,362 | $ | 657,477 | ||||
EXHIBIT
|
||
NUMBER
|
DESCRIPTION
|
|
(3.1)
|
Articles of Incorporation of the Company, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 1989 on Form 10-K, Exhibit 3.1, filed April 30, 1990.
|
|
(3.2)
|
Amended and Restated By-laws of the Company, effective November 24, 2008, and incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 3.1, filed December 1, 2008.
|
|
(4.1)
|
Form of Rights Agreement, dated as of March 13, 2000, between CPI Corp. and Harris Trust and Savings Bank, incorporated by reference to CPI Corp.'s Form 8-A, Exhibit 4.5, dated March 14, 2000.
|
|
(4.2)
|
First Amendment to Form of Rights Agreement, dated September 5, 2007, by and between CPI Corp. and Computershare Trust Company, N.A., incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 4.1, filed September 6, 2007.
|
|
(4.3)
|
Second Amendment to Form of Rights Agreement, dated December 21, 2007, by and between CPI Corp. and Computershare Trust Company, N.A., incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 4.1, filed December 21, 2007.
|
|
(4.4)
|
Third Amendment to Form of Rights Agreement, dated March 12, 2010, by and between CPI Corp. and Computershare Trust Company, N.A., incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.1, filed March 18, 2010.
|
|
(10.1)
|
License Agreement Sears, Roebuck De Puerto Rico, Inc., dated January 1, 1999, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 1998 on Form 10-K, Exhibit 10.30, filed May 5, 1999.
|
|
(10.2)*
|
Employment Agreement dated December 31, 2008, by and between Jane E. Nelson and CPI Corp., incorporated by reference to CPI Corp.'s Form 8-K, Exhibit A within Exhibit 10.67, filed January 7, 2009.
|
|
(10.3)*
|
CPI Corp. 1981 Stock Bonus Plan (As Amended and Restated effective February 3, 1991), incorporated by reference to CPI Corp.'s Annual Report for fiscal year 1992 on Form 10-K, Exhibit 10.29, filed May 5, 1993.
|
|
(10.4)*
|
First Amendment to CPI Corp. 1981 Stock Bonus Plan (As Amended and Restated effective February 3, 1991) effective January 1, 1995, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2000 on Form 10-K, Exhibit 10.30, filed May 3, 2001.
|
|
(10.5)*
|
CPI Corp. Restricted Stock Plan as Amended and Restated effective as of April 14, 2005, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2004 on Form 10-K, Exhibit 10.86, filed April 21, 2005.
|
|
(10.6)*
|
CPI Corp. Performance Plan adopted effective as of April 14, 2005, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2004 on Form 10-K, Exhibit 10.90, filed April 21, 2005.
|
|
(10.7)*
|
CPI Corp. Non-Employee Directors Restricted Stock Policy pursuant to the CPI Corp. Omnibus Incentive Plan effective as of August 14, 2008, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2008 on Form 10-K, Exhibit 10.31, filed April 23, 2009.
|
|
(10.8)*
|
CPI Corp. Non-Employee Directors Restricted Stock Policy (Restricted Stock Election), effective August 14, 2008, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2008 on Form 10-K, Exhibit 10.33, filed April 23, 2009.
|
|
(10.9)*
|
Form of Option Agreement, incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.1, filed August 21, 2008.
|
|
(10.10)*
|
CPI Corp. Omnibus Incentive Plan, incorporated by reference to CPI Corp.'s Form DEF 14A, Annex A, filed June 23, 2008.
|
|
(10.11)*
|
Employment Agreement by and between CPI Corp. and Renato Cataldo, incorporated by reference to CPI Corp.'s Form 10-Q, Exhibit 10.10, filed September 1, 2005. File No. 1-10204
|
|
(10.12)*
|
Confidentiality, Noncompetition and Nonsolicitation Agreement by and between CPI Corp. and Renato Cataldo, incorporated by reference to CPI Corp.'s Form 10-Q, Exhibit 10.104, filed September 1, 2005.
|
EXHIBIT
|
||
NUMBER
|
DESCRIPTION
|
|
(10.13)*
|
Letter from the Company regarding Supplemental Retirement Benefits, dated June 28, 2006, delivered to Richard Tarpley, incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.61, filed July 5, 2006.
|
|
(10.14)*
|
Letter from the Company regarding Supplemental Retirement Benefits, dated June 28, 2006, delivered to Jane E. Nelson, incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.62, filed July 5, 2006.
|
|
(10.15)*
|
Employment Agreement dated September 12, 2007, by and between Thomas Gallahue and CPI Corp., incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.60, filed September 18, 2007.
|
|
(10.16)
|
Purchase and Sale Agreement dated as of May 1, 2007, by and among Portrait Corporation of America, PCA LLC, American Studios, Inc., PCA Photo Corporation of Canada, PCA National LLC, PCA Finance Corp., Inc., Photo Corporation of America, Inc., (each, a "Seller") and CPI Corp.,
|
|
incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 2.1, filed May 3, 2007.
|
||
(10.17)
|
Amendment No. 1 to the Purchase and Sale Agreement dated as of May 1, 2007, by and among Portrait Corporation of America, PCA LLC, American Studios, Inc., PCA Photo Corporation of Canada, PCA National LLC, PCA Finance Corp., Inc., Photo Corporation of America, Inc., (each, a "Seller")
|
|
and CPI Corp., such amendment effective as of May 21, 2007, incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 2.1, filed May 25, 2007.
|
||
(10.18)
|
Amendment No. 2 to the Purchase and Sale Agreement dated as of June 8, 2007, by and among Portrait Corporation of America, PCA LLC, American Studios, Inc., PCA Photo Corporation of Canada, PCA National LLC, PCA Finance Corp., Inc., Photo Corporation of America, Inc., (each, a "Seller")
|
|
and CPI Corp., incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 2.3, filed June 24, 2007.
|
||
(10.19)
|
Second Amended and Restated Credit Agreement dated as of June 8, 2007, among the Company, the financial institutions that are or may from time to
time become parties thereto and LaSalle Bank National Association, as administrative agent and arranger for the lenders, incorporated by reference to
CPI Corp.'s Form 8-K, Exhibit 10.1, filed June 14, 2007.
|
|
(10.20)
|
First Amendment to that certain Second Amended and Restated Credit Agreement, among the Company, the financial institutions that are or may
from time to time become parties thereto and LaSalle Bank National Association, as administrative agent and arranger for the lenders, dated
|
|
June 8, 2007, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2009 on Form 10-K, Exhibit 10.28, filed April 22, 2010.
|
||
(10.21)
|
Second Amendment to that certain Second Amended and Restated Credit Agreement, among the Company, the financial institutions that are or may
from time to time become parties thereto and LaSalle Bank National Association, as administrative agent and arranger for the lenders, dated
December 10, 2008, incorporated by
reference to CPI Corp.'s Form 8-K, Exhibit 10.1, filed December 19, 2008.
|
|
(10.22)
|
Third Amendment to that certain Second Amended and Restated Credit Agreement, among the Company, the financial institutions that are or
may
from time to time become partites thereto and Bank of America, N.A., as successor to LaSalle Bank National Association, as administrative
|
|
agent and arranger for the lenders, effective April 16, 2009, incorproated by reference to CPI Corp.'s Form 8-K, Exhibit 10.47, filed April 21, 2009.
|
||
(10.23)
|
Master Lease Agreement between Wal-Mart Stores East, L.P., Wal-Mart Stores, Inc., Wal-Mart Louisiana, LLC, Wal-Mart Stores Texas, LP and Portrait Corporation of America, Inc., effective June 8, 2007, incorporated by reference to CPI Corp.'s Form 10-Q, Exhibit 10.59, filed August 30, 2007.
|
|
(Confidential treatment requested for portions of this document).
|
||
(10.24)
|
First Amendment to the Master Lease Agreement between Wal-Mart Stores, East, LP, Wal-Mart Stores, Inc., Wal-Mart Louisiana, LLC, Wal-Mart Stores Texas, LP and Portrait Corporation of America, Inc., effective June 8, 2007, incorporated by reference to CPI Corp.'s Form 10-Q, Exhibit 10.60, filed December 20, 2007.
|
|
(10.25)
|
Second Amendment to the Master Lease Agreement between Wal-Mart Stores, East, LP, Wal-Mart Stores, Inc., Wal-Mart Louisiana, LLC, Wal-Mart Stores Texas, LP and Portait Corporation of America, Inc., effective June 8, 2007, incorporated by reference to CPI
Corp.'s Form 10-Q, Exhibit 10.61, filed December 20, 2007.
|
|
|
||
(10.26)
|
License Agreement dated December 22, 2008, by and between CPI Corp., Consumer Programs Incorporated, a subsidiary of Company, and Sears, Roebuck and Co. (confidential treatment requested for portions of this document), incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.1, filed December 24, 2008.
|
|
|
EXHIBIT
|
||||||||
NUMBER
|
DESCRIPTION
|
|||||||
(10.27)
|
Letter Agreement dated December 22, 2008, by and between CPI Corp., Consumer Programs Incorporated, a subsidiary of the Company, and Sears, Roebuck and Co., incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.2, filed December 24, 2008.
|
|||||||
(10.28)*
|
Employment Agreement by and between CPI Corp. and Dale Heins, dated April 23, 2008, incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.62, filed April 24, 2008.
|
|||||||
(10.29)*
|
Employment Agreement by and between CPI Corp. and Jim Mills, dated September 2, 2008, incorporated by reference to CPI Corp.'s Form 10-Q, Exhibit 10.65, filed December 18, 2008.
|
|||||||
(10.30)*
|
Chairman's Agreement by and between CPI Corp. and David Meyer, dated September 22, 2008, incorporated by reference to CPI Corp.'s Form 10-Q, Exhibit 10.66, filed December 18, 2008.
|
|||||||
(10.31)*
|
Amendment to Chairman's Agreement by and between CPI Corp. and David Meyer, dated September 25, 2009, incorporated by reference to CPI Corp.'s Form 10-Q, Exhibit 10.58, filed December 22, 2009. (Confidential treatment requested for portions of this document).
|
|||||||
(10.32)*
|
Amendment to Chairman's Agreement dated September 22, 2008, and amended September 25, 2009, by and between CPI Corp. and David Meyer, dated February 12, 2010, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2009 on Form 10-K, Exhibit 10.40, filed April 22, 2010.
|
|||||||
(10.33)*
|
Executive Chairman's Agreement by and between CPI Corp. and David Meyer, dated April 19, 2010, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2009 on Form 10-K, Exhibit 10.41, filed April 22, 2010. (Confidential treatment requested for portions of this document.)
|
|||||||
(10.34)
|
Amendment dated as of February 22, 2010, by and between CPI Corp. and Toys "R" Us - Delaware, Inc. ("Licensor") to the Amended and Restated
License Agreement made and entered into as of December 23, 2005, by and between Licensor and Kiddie Kandids, LLC. Amended
and Restated License Agreement made and entered into as of December 23, 2005, by and between Licensor and Kiddie Kandids, LLC.
|
|||||||
These documents are incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2009 on Form 10-K, Exhibit 10.42, filed April 22, 2010.
(Confidential treatment requested for portions of these documents.)
|
||||||||
(10.35)*
|
Employment Agreement by and between CPI Corp. and Keith Laakko, dated December 28, 2005, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2009 on Form 10-K, Exhibit 10.43, filed April 22, 2010.
|
|||||||
(10.36)*
|
Confidentiality, Noncompetition and Nonsolicitation Agreement by and between CPI Corp. and Keith Laakko, dated December 28, 2005, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2009 on Form 10-K, Exhibit 10.44, filed April 22, 2010.
|
|||||||
(10.37)*
|
First Amendment to Employment Agreement by and between CPI Corp. and Keith Laakko, dated December 30, 2005, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2009 on Form 10-K, Exhibit 10.45, filed April 22, 2010.
|
|||||||
(10.38)*
|
Amended and Restated CPI Corp. Retirement Plan, effective January 1, 2010, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2009 on Form 10-K, Exhibit 10.46, filed April 22, 2010.
|
|||||||
(10.39)*
|
CPI Corp. Non-Employee Directors Restricted Stock Award Agreement pursuant to the CPI Corp. Omnibus Incentive Plan effective as of April 15, 2010, incorporated by reference to CPI Corp.'s Form 10-Q, Exhibit 10.47, filed June 9, 2010.
|
|||||||
(10.40)*
|
Restricted Stock Award Agreement pursuant to the Executive Chariman's Agreement by and between CPI Corp. and David Meyer, dated April 19, 2010, incorporated by reference to CPI Corp.'s Form 10-Q, Exhibit 10.48, filed June 9, 2010.
|
|||||||
(10.41)
|
Credit Agreement dated as of August 30, 2010, among the Company, the financial institutions that are or may from time to time become parties
thereto
and Bank of America, N.A., as administrative agent for the lenders, and as swing line lender and issuing lender, incorporated by reference to
CPI Corp.'s Form 10-Q, Exhibit 10.49, filed September 2, 2010.
|
|||||||
(10.42)*
|
Separation and Release Agreement by and between Consumer Programs Incorporated and James Mills entered into as of September 1, 2010, effective as of August 13, 2010, incorporated by reference to CPI Corp.'s Form 10-Q, Exhibit 10.50, filed September 2, 2010.
|
|||||||
|
EXHIBIT
|
||||||||
NUMBER
|
DESCRIPTION
|
|||||||
(10.43)
|
Amendment No. 3 dated September 8, 2010, effective as of April 15, 2008, to the Master Lease Agreement, dated as of June 8, 2007, as amended on
June 20, 2007 and August 20, 2007 (the "Master Lease"), by and between the Company and Wal-Mart Stores East, LP, a Delaware limited partnership,
Wal-Mart Stores, Inc., a Delaware corporation, Wal-Mart Louisiana, LLC, a Delaware limited liability company, and Wal-Mart Stores Texas, LLC,
|
|||||||
a Texas limited partnership, incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.2, filed September 14, 2010.
|
||||||||
(10.44)
|
Amendment No. 4 dated September 8, 2010, effective as of October 30, 2009, to the Master Lease Agreement, dated as of June 8, 2007, as amended
on June 20, 2007 and August 20, 2007 (the "Master Lease"), by and between the Company and Wal-Mart Stores East, LP, a Delaware limited
partnership, Wal-Mart Stores, Inc., a Delaware corporation, Wal-Mart Louisiana, LLC, a Delaware limited liability company, and Wal-Mart Stores
Texas, LLC, a Texas limited partnership, incorporated by reference to CPI Corp.'s Form 8-K, Exhibit 10.3, filed September 14, 2010.
|
|||||||
(Confidential treatment requested for portions of this document.)
|
||||||||
(10.45)
|
Amendment No. 5 dated September 8, 2010, effective as of June 3, 2010, to the Master Lease Agreement, dated as of June 8, 2007, as amended on
June 20, 2007 and August 20, 2007 (the "Master Lease"), by and between the Company and Wal-Mart Stores East, LP, a Delaware limited partnership,
Wal-Mart Stores, Inc., a Delaware corporation, Wal-Mart Louisiana, LLC, a Delaware limited liability company, and Wal-Mart Stores Texas, LLC,
|
|||||||
a Texas limited partnership, incorporated by reference to CPI Corp.'s Form 8-K,
Exhibit 10.4, filed September 14, 2010.
(Confidential treatment requested
for portions of this document.)
|
||||||||
|
||||||||
(10.46)
|
Amendment No. 6 dated September 8, 2010, effective as of July 1, 2010, to the Master Lease Agreement, dated as of June 8, 2007, as amended on
June 20, 2007 and August 20, 2007 (the "Master Lease"), by and between the Company and Wal-Mart Stores East, LP, a Delaware limited partnership,
Wal-Mart Stores, Inc., a Delaware corporation, Wal-Mart Louisiana, LLC, a Delaware limited liability company, and Wal-Mart Stores Texas, LLC,
|
|||||||
a Texas limited partnership, incorporated by reference to CPI Corp.'s Form 8-K,
Exhibit 10.5, filed September 14, 2010. (Confidential treatment requested for portions of this document.)
|
||||||||
|
||||||||
(10.47)*
|
Form of LTIP Restricted Stock Award Agreement, incorporated by reference to CPI Corp.'s Form 10-Q, Exhibit 10.51, filed December 22, 2010.
|
|||||||
(10.48)
|
Asset Purchase Agreement dated January 26, 2011, by and among Bella Pictures Holdings, LLC, a Delaware limited liability company (the "Buyer"),
Bella Pictures, Inc., a Delaware corporation (the "Company"), CPI Corp., a Delaware corporation ("CPI"), and, with respect to Sections 4.3, 4.5,
4.6, 4.7, 6.1, 6.3, and 6.7 and Article 7 of the Agreement only, Foundation Capital IV, L.P. ("Foundation Capital"), incorporated by reference to
CPI Corp.'s
Form 8-K, Exhibit 10.6, filed February 1, 2011.
|
|||||||
(10.49)*
|
Letter dated March 18, 2011, confirming agreement between CPI Corp. and David M. Meyer regarding compensation as Executive Chairman of the Board of Directors of the Company during fiscal year ended February 4, 2012, incorporated by reference to CPI
Corp.'s Form 8-K, Exhibit 10.52, filed March 24, 2011.
|
|||||||
|
||||||||
(10.50)*
|
Form of First Amendment to Offer of Employment, dated December 30, 2010, incorporated by reference to CPI Corp.'s Annual Report for fiscal year 2010 on Form 10-K, Exhibit 10.50, filed April 21, 2011.
|
|||||||
(11.1)^
|
Computation of Income (Loss) Per Share - Diluted
|
|||||||
(11.2)^
|
Computation of Income (Loss) Per Share - Basic
|
|||||||
(21.0)^
|
Subsidiaries of the Registrant
|
|||||||
(23.0)^
|
Independent Registered Public Accounting Firm's Consent
|
|||||||
(
31.1
)
|
Certification Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934 by the President and Chief Executive Officer.
|
|||||||
(
31.2
)
|
Certification Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934 by the Executive Vice President, Finance and Chief Financial Officer.
|
|||||||
(
32.0
)
|
Certification Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 by the President and Chief Executive Officer and the Executive Vice President, Finance and Chief Financial Officer.
|
|||||||
*
|
Management contract or compensatory plan available to employees, officers or directors.
|
|||||||
^
|
Previously filed.
|
1 Year C P I Chart |
1 Month C P I Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions