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ACI » Topics » Restricted Stock and Restricted Stock Unit Awards

This excerpt taken from the ACI 10-K filed Mar 1, 2010.
Restricted Stock and Restricted Stock Unit Awards
 
The Company may issue restricted stock and restricted stock units, which require no payment from the employee. Restricted stock cliff-vests at various dates and restricted stock units typically vest ratably over three years. Compensation expense is based on the fair value on the grant date and is recorded ratably over the vesting period. During the vesting period, the employee receives cash compensation equal to the amount of dividends that would have been paid on the underlying shares.
 
Information regarding restricted stock and restricted stock unit activity and weighted average grant-date fair value follows for the year ended December 31, 2009:
 
                                 
    Restricted Stock     Restricted Stock Units  
          Weighted Average
 		          Weighted Average
 		 
    Common
 		    Grant-Date
 		    Common
 		    Grant-Date
 		 
    Shares     Fair Value     Shares     Fair Value  
    (In thousands)           (In thousands)        
 
Outstanding at January 1
    91     $ 34.15       64     $ 50.47  
Granted
    35       14.05       —       —  
Vested
    (50 )     30.35       (10 )     37.76  
                                 
Outstanding at December 31
    76       27.43       54       52.69  
                                 
 
The weighted average fair value of restricted stock granted during 2008 and 2007 was $49.05 and $33.27, respectively. The weighted average fair value of restricted stock units granted during 2008 was $52.69; there were none granted during 2007. The total grant-date fair value of restricted stock that vested during 2009, 2008 and 2007 was $1.5 million, $1.0 million and $0.1 million, respectively. The total grant-date fair value of restricted stock units that vested during 2009, 2008 and 2007 was $0.4 million, $1.9 million and $2.0 million, respectively. Unearned compensation of $2.4 million will be recognized over the remaining vesting period of the outstanding restricted stock and restricted stock units. The Company recognized expense of approximately $1.7 million, $1.9 million and $1.8 million related to restricted stock and restricted stock units for the years ended December 31, 2009, 2008 and 2007, respectively.
 
These excerpts taken from the ACI 10-K filed Feb 27, 2009.
Restricted Stock and Restricted Stock Unit Awards
 
The Company may issue restricted stock and restricted stock units, which require no payment from the employee. Restricted stock cliff-vests at various dates and restricted stock units typically vest ratably over three years. Compensation expense is based on the fair value on the grant date and is recorded ratably over the vesting period. During the vesting period, the employee receives cash compensation equal to the amount of dividends that would have been paid on the underlying shares.


F-33

Table of Contents

 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
Information regarding restricted stock and restricted stock unit activity and weighted average grant-date fair value follows for the year ended December 31, 2008:
 
                                 
    Restricted Stock     Restricted Stock Units  
          Weighted Average
 		          Weighted Average
 		 
    Common
 		    Grant-Date
 		    Common
 		    Grant-Date
 		 
    Shares     Fair Value     Shares     Fair Value  
    (In thousands)           (In thousands)        
 
Outstanding at January 1
    112     $ 27.95       139     $ 16.41  
Granted
    24       49.05       54       52.69  
Vested
    (40 )     23.92       (128 )     14.67  
Canceled
    (5 )     49.47       (1 )     37.77  
                                 
Outstanding at December 31
    91       34.15       64       50.47  
                                 
 
The weighted average fair value of restricted stock granted during 2007 and 2006 was $33.27 and $36.73, respectively. The weighted average fair value of restricted stock units granted during 2006 was $37.77; there were none granted during 2007. The total grant-date fair value of restricted stock that vested during 2008, 2007 and 2006 was $1.0 million, $0.1 million and $0.3 million, respectively. The total grant-date fair value of restricted stock units that vested during 2008, 2007 and 2006 was $1.9 million, $2.0 million and $1.7 million, respectively. Unearned compensation of $3.8 million will be recognized over the remaining vesting period of the outstanding restricted stock and restricted stock units. The Company recognized expense of approximately $1.9 million, $1.8 million and $2.0 million related to restricted stock and restricted stock units for the years ended December 31, 2008, 2007 and 2006, respectively.
 
Restricted
Stock and Restricted Stock Unit Awards


 



The Company may issue restricted stock and restricted stock
units, which require no payment from the employee. Restricted
stock cliff-vests at various dates and restricted stock units
typically vest ratably over three years. Compensation expense is
based on the fair value on the grant date and is recorded
ratably over the vesting period. During the vesting period, the
employee receives cash compensation equal to the amount of
dividends that would have been paid on the underlying shares.





F-33




Table of Contents





 




NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)

 



Information regarding restricted stock and restricted stock unit
activity and weighted average grant-date fair value follows for
the year ended December 31, 2008:


 





































































































































































































































                                 

 

 

Restricted Stock

 

 

Restricted Stock Units

 

 

 

 

 

 

Weighted Average



 

 

 

 

 

Weighted Average



 

 

 

Common



 

 

Grant-Date



 

 

Common



 

 

Grant-Date



 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

 

(In thousands)

 

 

 

 

 

(In thousands)

 

 

 

 
 


Outstanding at January 1


 

 

112

 

 

$

27.95

 

 

 

139

 

 

$

16.41

 


Granted


 

 

24

 

 

 

49.05

 

 

 

54

 

 

 

52.69

 


Vested


 

 

(40

)

 

 

23.92

 

 

 

(128

)

 

 

14.67

 


Canceled


 

 

(5

)

 

 

49.47

 

 

 

(1

)

 

 

37.77

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Outstanding at December 31


 

 

91

 

 

 

34.15

 

 

 

64

 

 

 

50.47

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 



The weighted average fair value of restricted stock granted
during 2007 and 2006 was $33.27 and $36.73, respectively. The
weighted average fair value of restricted stock units granted
during 2006 was $37.77; there were none granted during 2007. The
total grant-date fair value of restricted stock that vested
during 2008, 2007 and 2006 was $1.0 million,
$0.1 million and $0.3 million, respectively. The total
grant-date fair value of restricted stock units that vested
during 2008, 2007 and 2006 was $1.9 million,
$2.0 million and $1.7 million, respectively. Unearned
compensation of $3.8 million will be recognized over the
remaining vesting period of the outstanding restricted stock and
restricted stock units. The Company recognized expense of
approximately $1.9 million, $1.8 million and
$2.0 million related to restricted stock and restricted
stock units for the years ended December 31, 2008, 2007 and
2006, respectively.


 




These excerpts taken from the ACI 10-K filed Feb 29, 2008.
Restricted Stock and Restricted Stock Unit Awards
 
The Company may issue restricted stock and restricted stock units, which require no payment from the employee. Restricted stock cliff-vests at various dates and restricted stock units typically vest ratably over three years. Compensation expense is based on the fair value on the grant date and is recorded ratably over the vesting period. During the vesting period, the employee receives cash compensation equal to the amount of dividends that would have been paid on the underlying shares.
 
Information regarding restricted stock and restricted stock unit activity and weighted average grant-date fair value follows for the year ended December 31, 2007:
 
                                 
    Restricted Stock     Restricted Stock Units  
          Weighted Average
 		          Weighted Average
 		 
    Common
 		    Grant-Date
 		    Common
 		    Grant-Date
 		 
    Shares     Fair Value     Shares     Fair Value  
    (In thousands)           (In thousands)        
 
Outstanding at January 1
    86     $ 26.20       250     $ 16.98  
Granted
    31       33.27       —       —  
Vested
    (5 )     31.61       (111 )     17.70  
                                 
Outstanding at December 31
    112       27.95       139       16.41  
 
The weighted average fair value of restricted stock granted during 2006 and 2005 was $36.73 and $23.01, respectively. The weighted average fair value of restricted stock units granted during 2006 and 2005 was $37.77 and $22.27, respectively. The total grant-date fair value of restricted stock that vested during 2007 and 2006 was $0.1 million and $0.3 million, respectively. The total grant-date fair value of restricted stock units that vested during 2007, 2006 and 2005 was $2.0 million, $1.7 million and $1.4 million, respectively. Unearned compensation of $2.0 million will be recognized over the remaining vesting period of the outstanding restricted stock and restricted stock units. The Company recognized expense of approximately $1.8 million, $2.0 million and $2.2 million related to restricted stock and restricted stock units for the years ended December 31, 2007, 2006 and 2005, respectively.
 
Restricted
Stock and Restricted Stock Unit Awards


 



The Company may issue restricted stock and restricted stock
units, which require no payment from the employee. Restricted
stock cliff-vests at various dates and restricted stock units
typically vest ratably over three years. Compensation expense is
based on the fair value on the grant date and is recorded
ratably over the vesting period. During the vesting period, the
employee receives cash compensation equal to the amount of
dividends that would have been paid on the underlying shares.


 



Information regarding restricted stock and restricted stock unit
activity and weighted average grant-date fair value follows for
the year ended December 31, 2007:


 































































































































































































                                 

 

 

Restricted Stock

 

 

Restricted Stock Units

 

 

 

 

 

 

Weighted Average



 

 

 

 

 

Weighted Average



 

 

 

Common



 

 

Grant-Date



 

 

Common



 

 

Grant-Date



 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

 

(In thousands)

 

 

 

 

 

(In thousands)

 

 

 

 
 


Outstanding at January 1


 

 

86

 

 

$

26.20

 

 

 

250

 

 

$

16.98

 


Granted


 

 

31

 

 

 

33.27

 

 

 

—

 

 

 

—

 


Vested


 

 

(5

)

 

 

31.61

 

 

 

(111

)

 

 

17.70

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Outstanding at December 31


 

 

112

 

 

 

27.95

 

 

 

139

 

 

 

16.41

 






 



The weighted average fair value of restricted stock granted
during 2006 and 2005 was $36.73 and $23.01, respectively. The
weighted average fair value of restricted stock units granted
during 2006 and 2005 was $37.77 and $22.27, respectively. The
total grant-date fair value of restricted stock that vested
during 2007 and 2006 was $0.1 million and
$0.3 million, respectively. The total grant-date fair value
of restricted stock units that vested during 2007, 2006 and 2005
was $2.0 million, $1.7 million and $1.4 million,
respectively. Unearned compensation of $2.0 million will be
recognized over the remaining vesting period of the outstanding
restricted stock and restricted stock units. The Company
recognized expense of approximately $1.8 million,
$2.0 million and $2.2 million related to restricted
stock and restricted stock units for the years ended
December 31, 2007, 2006 and 2005, respectively.


 




This excerpt taken from the ACI 10-K filed Mar 1, 2007.
Restricted Stock and Restricted Stock Unit Awards
      The Company may issue restricted stock and restricted stock units, which require no payment from the employee. Restricted stock cliff-vests at various dates and restricted stock units typically vest ratably over three years. Compensation expense is based on the fair value on the grant date and is recorded ratably over the vesting period. During the vesting period, the employee receives cash compensation equal to the amount of dividends that would have been paid on the underlying shares.

F-40

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
      Information regarding restricted stock and restricted stock unit activity and weighted average grant-date fair value follows for the year ended December 31, 2006:
                                 
    Restricted Stock   Restricted Stock Units
         
        Weighted       Weighted
        Average       Average
    Common   Grant-Date   Common   Grant-Date
    Shares   Fair Value   Shares   Fair Value
                 
    (In thousands)       (In thousands)    
Outstanding at January 1
     82     $ 23.20       327     $ 14.49  
Granted
     18       36.73       32       37.77  
Vested
     (14 )     21.75       (109 )     15.47  
Canceled
     —       —       —       —  
                             
Outstanding at December 31
     86       26.20       250       16.98  
                             
      The weighted average fair value of restricted stock granted during 2005 was $23.01. The weighted average fair value of restricted stock units granted during 2005 and 2004 was $22.27 and $14.23, respectively. The total fair value of restricted stock that vested during 2006 was $0.3 million. The total fair value of restricted stock units that vested during 2006 and 2005 was $1.7 million and $1.4 million, respectively. Unearned compensation of $2.7 million will be recognized over the remaining vesting period of the outstanding restricted stock and restricted stock units. The Company recognized expense of approximately $2.0 million, $2.2 million and $2.4 million related to restricted stock and restricted stock units for the years ended December 31, 2006, 2005 and 2004, respectively.

EXCERPTS ON THIS PAGE:

10-K
Mar 1, 2010
10-K (2 sections)
Feb 27, 2009
10-K (2 sections)
Feb 29, 2008
10-K
Mar 1, 2007

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