PIER 1 IMPORTS, INC. (NYSE:PIR) Files An 8-K Other Events

PIER 1 IMPORTS, INC. (NYSE:PIR) Files An 8-K Other Events
Item 8.01 Other Events.

On January 5, 2017, Pier 1 Imports, Inc. (the “Company”) and Alexander W. Smith, the Company’s former president and chief executive officer, amended a non-qualified stock option agreement between the Company and Mr. Smith, to allow for a net exercise of the option and to provide that the option will automatically be exercised (on a net basis) on the day prior to its expiration if the option is still outstanding. The option was an inducement grant made to Mr. Smith in connection with his employment with the Company on February 19, 2007, covers 944,000 shares issuable at a price of $6.69 per share and will expire on February 19, 2017. The net exercise feature will result in significantly fewer shares issued to Mr. Smith upon exercise, and significantly less dilution to Company shareholders generally, than would occur under a standard exercise, as shares to cover the value of the payment of the exercise price and applicable withholding taxes will be deducted from the shares issuable to Mr. Smith upon exercise and retained by the Company as unissued shares.


Pier 1 Imports, Inc. is an importer of home decor and furniture. The Company’s operations consist of retail stores and an e-commerce Website conducting business under the name Pier 1 Imports, which sells a range of decorative accessories, furniture, candles, housewares, gifts and seasonal products. The Company’s categories of merchandise include decorative accessories and furniture. The decorative accessories category includes decorative accents and textiles, such as rugs, wall decorations and mirrors, candles, fragrance, gifts and seasonal items. The furniture category includes furniture and furniture cushions to be used in living, dining, office, sunrooms and patios. This merchandise group is generally made of metal or handcrafted natural materials, including rattan, pine, acacia, oak and other woods with either natural, stained, painted or upholstered finishes.

PIER 1 IMPORTS, INC. (NYSE:PIR) Recent Trading Information

PIER 1 IMPORTS, INC. (NYSE:PIR) closed its last trading session down -0.11 at 8.59 with 3,084,007 shares trading hands.

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