John P. D. Cato, 65, has been employed as an officer of the Company since 1981 and has been a director of the Company since 1986.
Since January 2004, he has served as Chairman, President and Chief Executive Officer.
From May 1999 to January 2004, he served as President, Vice Chairman of the Board and Chief Executive Officer.
From June 1997 to May 1999, he served as President, Vice Chairman of the Board and Chief Operating Officer.
From August 1996 to June 1997, he served as Vice Chairman of the Board and Chief Operating Officer.
From 1989 to 1996, he managed the Company’s off-price concept, serving as Executive Vice President and as President and General Manager of the It’s Fashion! concept from 1993 to August 1996.
Mr. Cato previously served as a director of Harris Teeter Supermarkets, Inc., formerly Ruddick Corporation.
The Board concluded that Mr. Cato is qualified to serve as a Board member based on his knowledge of all aspects of the Company’s business and his substantial experience on and contributions to the Company’s Board, among other skills and attributes.
Grants were not subject to performance criteria but are subject to a five-year vesting schedule except for Mr. Cato
, whose May 1, 2013, May 1, 2014 and May 1, 2015 grants were subject to a performance measure and the five-year vesting schedule.
The amounts shown in this column represent the grant date fair value of options to purchase 20,127 shares of Class B stock granted to Mr. Cato
on May 1, 2013 under the 1987 Non-Qualified Stock Option Plan, as computed in accordance with FASB ASC Topic 718.