SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Schack Laura A

(Last)

(First)

(Middle)

100 PIER 1 PLACE

(Street)

FORT WORTH

76102

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/30/2008

3. Issuer Name and Ticker or Trading Symbol
PIER 1 IMPORTS INC/DE [ PIR ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		Principal Accounting Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
common stock	22,438.9325	D
common stock	544.7975	I	By Stock Purchase Plan

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Option (Right to Buy)	09/14/2003	09/14/2009	common stock	750	$5.8125	D
Employee Stock Option (Right to buy)	10/12/2003	10/12/2010	common stock	1,750⁽¹⁾	$10.4375	D
Employee Stock Option (Right to buy)	09/27/2003	09/27/2011	common stock	5,625⁽²⁾	$8.26	D
Employee Stock Option (Right to buy)	09/26/2004	09/26/2012	common stock	5,625⁽³⁾	$20.38	D
Employee Stock Option (Right to buy)	09/25/2004	09/25/2013	common stock	7,500⁽⁴⁾	$19.4	D
Employee Stock Option (Right to buy)	06/28/2005	06/28/2014	common stock	7,500⁽⁵⁾	$17.25	D
Employee Stock Option (Right to buy)	07/01/2006	07/01/2015	common stock	5,000⁽⁶⁾	$14.25	D
Employee Stock Option (Right to buy)	09/30/2006	09/30/2015	common stock	5,000⁽⁷⁾	$11.27	D
Employee Stock Option (Right to buy)	06/23/2007	06/23/2016	common stock	7,000⁽⁸⁾	$7.55	D
Employee Stock Option (Right to buy)	04/13/2008	04/13/2017	common stock	10,000⁽⁹⁾	$7.77	D
Employee Stock Option (Right to buy)	04/11/2009	04/11/2018	common stock	20,000⁽¹⁰⁾	$7.45	D

Explanation of Responses:

1. 500 shares vested 10/12/2003; and, 1,250 shares vested 10/12/2004

2. 1,875 shares vested on 9/27/2003, 9/27/2004, and 9/27/2005.

3. 1,875 shares vested on 9/26/2004, 9/26/2005, and 9/26/2006.

4. The option vested in four equal annual installments of 1,875 shares each beginning 9/25/2004.

5. The option vested in four equal annual installments of 1,875 shares each beginning 6/28/2005.

6. The option vests in four equal annual installments beginning 7/1/2006.

7. The option vests in four equal annual installments beginning 9/30/2006.

8. The option vests in four equal annual installments beginning 6/23/2007.

9. The option vests in four equal annual installments beginning 4/13/2008.

10. The option will vest in four equal annual installments beginning 4/1/2009.

	/s/ Laura A. Schack By: Michael A. Carter, Atty-in-Fact	07/02/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.