AXTI » Topics » Restricted Stock Awards

These excerpts taken from the AXTI 10-K filed Mar 31, 2009.

Restricted stock awards

        A summary of activity related to restricted stock awards for the year ended December 31, 2008 is presented below:

 
  Shares   Weighted-Average
Grant Date
Fair Value
 

Non-vested restricted stock shares outstanding as of
December 31, 2006

           

Restricted stock shares granted

    23,480   $ 4.26  

Restricted stock shares vested

           
             

Non-vested restricted stock shares outstanding as of
December 31, 2007

    23,480   $ 4.26  

Restricted stock shares granted

    62,892   $ 1.59  

Restricted stock shares vested

    (7,828 ) $ 4.26  
             

Non-vested restricted stock shares outstanding as of
December 31, 2008

    78,544   $ 2.12  
             

        As of December 31, 2008, we had $145,000 of unrecognized compensation expense, net of forfeitures, related to restricted stock awards, which will be recognized over the weighted average period of 2.47 years. During the year ended December 31, 2008, 7,828 shares of restricted stock were vested. No shares of restricted stock were vested during 2007.

Restricted stock awards



        A summary of activity related to restricted stock awards for the year ended December 31, 2008 is presented below:

























































































































 
 Shares  Weighted-Average

Grant Date

Fair Value
 

Non-vested restricted stock shares outstanding as of

December 31, 2006

      

Restricted stock shares granted

  23,480 $4.26 

Restricted stock shares vested

      
       

Non-vested restricted stock shares outstanding as of

December 31, 2007

  23,480 $4.26 

Restricted stock shares granted

  62,892 $1.59 

Restricted stock shares vested

  (7,828)$4.26 
       

Non-vested restricted stock shares outstanding as of

December 31, 2008

  78,544 $2.12 
       




        As
of December 31, 2008, we had $145,000 of unrecognized compensation expense, net of forfeitures, related to restricted stock awards, which will be recognized over the weighted
average period of 2.47 years. During the year ended December 31, 2008, 7,828 shares of restricted stock were vested. No shares of restricted stock were vested during 2007.



These excerpts taken from the AXTI 10-K filed Mar 14, 2008.

Restricted stock awards

        A summary of activity related to restricted stock awards for the year ended December 31, 2007 is presented below:

 
  Shares
  Weighted-Average
Grant Date
Fair Value

Non-vested restricted stock shares outstanding at beginning of the year     $
Restricted stock shares granted   23,480   $ 4.26
Restricted stock shares vested     $
   
     
Non-vested restricted stock shares outstanding as of December 31, 2007   23,480   $ 4.26
   
     

        As of December 31, 2007, we had $84,000 of unrecognized compensation expense, net of forfeitures, related to restricted stock awards, which will be recognized over the weighted average period of 2.51 years. During the year ended December 31, 2007, no shares of restricted stock were vested.

Restricted stock awards



        A summary of activity related to restricted stock awards for the year ended December 31, 2007 is presented below:




























































 
 Shares
 Weighted-Average

Grant Date

Fair Value

Non-vested restricted stock shares outstanding at beginning of the year  $
Restricted stock shares granted 23,480 $4.26
Restricted stock shares vested  $
  
   
Non-vested restricted stock shares outstanding as of December 31, 2007 23,480 $4.26
  
   




        As
of December 31, 2007, we had $84,000 of unrecognized compensation expense, net of forfeitures, related to restricted stock awards, which will be recognized over the weighted
average period of 2.51 years. During the year ended December 31, 2007, no shares of restricted stock were vested.



This excerpt taken from the AXTI 10-Q filed Aug 13, 2007.

Restricted stock awards

A summary of activity related to restricted stock awards for the three months ended June 30, 2007 is presented below:

 

Shares

 

Weighted-Average
Grant Date Fair Value

 

Non-vested restricted stock shares outstanding at beginning of the year

 

 

$

 

Restricted stock shares granted

 

10,608

 

$

3.77

 

Restricted stock shares vested

 

 

$

 

Non-vested restricted stock shares outstanding at June 30, 2007

 

10,608

 

$

3.77

 

 

At June 30, 2007, we had $39,000 of unrecognized compensation expense, net of forfeitures, related to restricted stock awards, which will be recognized over the weighted average period of 2.9 years. During the three and six months ended June 30, 2007 no shares of restricted stock vested.

This excerpt taken from the AXTI DEF 14A filed Apr 18, 2007.

Restricted Stock Awards

The Board may grant restricted stock awards under the 2007 Plan either in the form of a restricted stock purchase right, giving a participant an immediate right to purchase common stock, or in the form of a restricted stock bonus, for which the participant furnishes consideration in the form of services to the company. The Board determines the purchase price payable under restricted stock purchase awards, which may be less than the then current fair market value of our common stock. Restricted stock awards may be subject to vesting conditions based on such service or performance criteria as the Board specifies, including the attainment of one or more performance goals similar to those described below in connection with performance awards. Shares acquired pursuant to a restricted stock award may not be transferred by the participant until vested. A participant will forfeit any shares of restricted stock as to which the restrictions

15




have not lapsed prior to the participant’s termination of service, unless otherwise provided for by the Board (except if the participant is terminated for cause, in which case the Board may not alter vesting terms). Participants holding restricted stock will generally have the right to vote the shares and to receive any dividends paid, except that dividends or other distributions paid in shares will be subject to the same restrictions as the original award.

This excerpt taken from the AXTI DEF 14A filed Apr 25, 2006.

Restricted Stock Awards

The Board may grant restricted stock awards under the 2006 Plan either in the form of a restricted stock purchase right, giving a participant an immediate right to purchase common stock, or in the form of a restricted stock bonus, for which the participant furnishes consideration in the form of services to the company. The Board determines the purchase price payable under restricted stock purchase awards, which may be less than the then current fair market value of our common stock. Restricted stock awards may be subject to vesting conditions based on such service or performance criteria as the Board specifies, including the attainment of one or more performance goals similar to those described below in connection with performance awards. Shares acquired pursuant to a restricted stock award may not be transferred by the participant until vested. Unless otherwise provided by the Board, a participant will forfeit any shares of restricted stock as to which the restrictions have not lapsed prior to the participant’s termination of service. Participants holding restricted stock will generally have the right to vote the shares and to receive any dividends paid, except that dividends or other distributions paid in shares will be subject to the same restrictions as the original award.

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