X0303 4 2010-04-28 0 0000278130 PIER 1 IMPORTS INC/DE PIR 0001216136 SMITH ALEX C/O PIER 1 IMPORTS, INC 100 PIER 1 PLACE FORT WORTH TX 76102 1 1 0 0 President & CEO Common Stock 750000 D Common Stock 185000 I By Trust Employee Stock Option (right to buy) 6.69 2010-04-28 4 A 0 1000000 0 A 2010-04-28 2017-02-19 Common Stock 1000000 1000000 D On February 19, 2007, the reporting person was granted a performance option to purchase up to 2,000,000 shares of common stock at an exercise price of $6.69 per share. The performance option vested and became exercisable, up to 1,000,000 shares respectively for the fiscal years ending February 28, 2009 and February 27, 2010, upon the filing of the Issuer's Annual Report on Form 10-K with the Securities and Exchange Commission for such fiscal year based upon achieving performance criteria for the Issuer's fiscal year 2009 and fiscal year 2010, and the reporting person being employed with the Company as of the end of the respective fiscal year. The fiscal 2010 performance criteria was met and the option vested 1,000,000 shares. /s/ Alexander W. Smith, By: Michael A. Carter, Atty-in-Fact 2010-04-28