XNYS:PIR Pier 1 Imports Inc Insider Activity 4 Filing - 10/22/2012

Effective Date 10/22/2012

XNYS:PIR (Pier 1 Imports Inc): Fair Value Estimate
Premium
XNYS:PIR (Pier 1 Imports Inc): Consider Buying
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XNYS:PIR (Pier 1 Imports Inc): Consider Selling
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XNYS:PIR (Pier 1 Imports Inc): Fair Value Uncertainty
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XNYS:PIR (Pier 1 Imports Inc): Economic Moat
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XNYS:PIR (Pier 1 Imports Inc): Stewardship
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Leite Sharon M
  2. Issuer Name and Ticker or Trading Symbol
PIER 1 IMPORTS INC/DE [PIR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Exec. Vice President - Stores
(Last)
(First)
(Middle)
C/O PIER 1 IMPORTS, INC., 100 PIER 1 PLACE
3. Date of Earliest Transaction (Month/Day/Year)
10/22/2012
(Street)

FORT WORTH, TX 76102
4. If Amendment, Date 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
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
common stock 10/22/2012   M   30,000 A $6.25 127,097.7564 D  
common stock 10/22/2012   M   45,000 A $7.45 172,097.7564 D  
common stock 10/22/2012   S   75,000 D $20.1853(3) 97,097.7564 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualifed Stock Option (Right to Buy) $6.25 10/22/2012   M     30,000   (1) 08/06/2017 common stock 30,000 $ 0 0 D  
Non-Qualified Stock Option (Right to Buy) $7.45 10/22/2012   M     45,000   (2) 04/11/2018 common stock 45,000 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Leite Sharon M
C/O PIER 1 IMPORTS, INC.
100 PIER 1 PLACE
FORT WORTH, TX 76102
      Exec. Vice President - Stores  

Signatures

 /s/ Sharon M. Leite By: Michael A. Carter, Atty-in-Fact   10/24/2012
** Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(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).
(1) The option vested in four equal installments on August 6, 2008, 2009, 2010 and 2011.
(2) The option vested in four equal installments on April 11, 2009, 2010, 2011 and 2012.
(3) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.11 to $20.35, inclusive. The reporting person undertakes to provide Pier 1 Imports, Inc., any security holder of Pier 1 Imports, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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XNYS:PIR Pier 1 Imports Inc Insider Activity 4 Filling

Pier 1 Imports Inc XNYS:PIR Stock - Get Insider Activity SEC Filing of Pier 1 Imports Inc XNYS:PIR stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

XNYS:PIR Pier 1 Imports Inc Insider Activity 4 Filing - 10/22/2012
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Title |  Date |  Author |  Collection |  Interest |  Popularity Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Popularity |  Our Choices |  Most Recent Title |  Date |  Company |  Symbol |  Interest |  Popularity

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