EMAG » Topics » Restricted Stock

These excerpts taken from the EMAG 10-K filed Mar 17, 2008.
Restricted Stock
 
The Company’s plans allow for the issuance of restricted stock awards that may not be sold or otherwise transferred until certain restrictions have lapsed. Vesting occurs at the earliest to occur of the end of the four year graded vesting period, one year after a separation from service, as defined in the Plan, thirty days after the death or disability of a recipient, or at the effective date of a change in control of the Company, as defined in the Plan. Recipients have no voting or other shareholder rights until issuance of the shares. The stock-based compensation related to these awards is being amortized straight-line to compensation expense over the four year service-based vesting period in which the restrictions lapse. Stock-based expense for these


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EMAGEON INC.
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
awards in total was determined based on the market price of the Company’s stock at the date of grant applied to the total number of shares anticipated to fully vest.
 
A summary of unvested restricted stock activity and related information is detailed below.
 
                                 
    2007     2006  
          Weighted
          Weighted
 
          Average
          Average
 
    Shares     Fair Value     Shares     Fair Value  
 
Restricted stock at beginning of period
    57,250     $ 16.41              
Granted
    94,833     $ 9.82       85,496     $ 16.30  
Vested
    (33,829 )   $ 8.76       (24,514 )   $ 15.97  
Forfeited
    (14,390 )   $ 14.03       (3,732 )   $ 16.56  
                                 
Restricted stock at end of period
    103,864     $ 11.20       57,250     $ 16.41  
                                 
 
Restricted stock granted in 2007 had an aggregate grant date fair value of $931 ($1,393 in 2006). Total restricted stock compensation expense for the year ended December 31, 2007 was $417 ($412 for the year ended December 31, 2006). No restricted stock was granted in 2005. Total unrecognized compensation expense at December 31, 2007 was $1,049.
 
Restricted
Stock



 



The Company’s plans allow for the issuance of restricted
stock awards that may not be sold or otherwise transferred until
certain restrictions have lapsed. Vesting occurs at the earliest
to occur of the end of the four year graded vesting period, one
year after a separation from service, as defined in the Plan,
thirty days after the death or disability of a recipient, or at
the effective date of a change in control of the Company, as
defined in the Plan. Recipients have no voting or other
shareholder rights until issuance of the shares. The stock-based
compensation related to these awards is being amortized
straight-line to compensation expense over the four year
service-based vesting period in which the restrictions lapse.
Stock-based expense for these





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Table of Contents





 




EMAGEON
INC.



 




NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS —
(Continued)


 



awards in total was determined based on the market price of the
Company’s stock at the date of grant applied to the total
number of shares anticipated to fully vest.


 



A summary of unvested restricted stock activity and related
information is detailed below.


 






















































































































































































































                                 

 

 

2007

 

 

2006

 

 

 

 

 

 

Weighted



 

 

 

 

 

Weighted



 

 

 

 

 

 

Average



 

 

 

 

 

Average



 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 
 


Restricted stock at beginning of period


 

 

57,250

 

 

$

16.41

 

 

 



 

 

 



 


Granted


 

 

94,833

 

 

$

9.82

 

 

 

85,496

 

 

$

16.30

 


Vested


 

 

(33,829

)

 

$

8.76

 

 

 

(24,514

)

 

$

15.97

 


Forfeited


 

 

(14,390

)

 

$

14.03

 

 

 

(3,732

)

 

$

16.56

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Restricted stock at end of period


 

 

103,864

 

 

$

11.20

 

 

 

57,250

 

 

$

16.41

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 



Restricted stock granted in 2007 had an aggregate grant date
fair value of $931 ($1,393 in 2006). Total restricted stock
compensation expense for the year ended December 31, 2007
was $417 ($412 for the year ended December 31, 2006). No
restricted stock was granted in 2005. Total unrecognized
compensation expense at December 31, 2007 was $1,049.


 




EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 17, 2008
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