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This excerpt taken from the FL DEF 14A filed Apr 9, 2009. Restricted Stock Units
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This excerpt taken from the FL 10-Q filed Sep 10, 2008. Restricted Stock and Units Restricted shares of the Company’s common stock may be awarded to certain officers and key employees of the Company. For executives outside of the United States the Company issues restricted stock units. Each restricted stock unit represents the right to receive one share of the Company’s common stock provided that the vesting conditions are satisfied. As of August 2, 2008, 87,500 restricted stock units are outstanding. Compensation expense is recognized using the fair market value at the date of grant and is amortized over the vesting period, provided the recipient continues to be employed by the Company. These awards fully vest after the passage of time, generally three years. Restricted stock is considered outstanding at the time of grant, as the holders of restricted stock are entitled to receive dividends and have voting rights. Restricted shares and units activity for the twenty-six weeks ended August 2, 2008 and August 4, 2007 is summarized as follows:
Page 13 of 28 The weighted-average grant-date fair value per share was $11.66 and $23.06 for the twenty-six weeks ended August 2, 2008 and August 4, 2007, respectively. The total value of awards for which restrictions lapsed during the twenty-six weeks ended August 2, 2008 was $2.1 million. As of August 2, 2008, there was $9.5 million of total unrecognized compensation cost related to nonvested restricted awards. The Company recorded compensation expense related to restricted awards, net of forfeitures, of $3.6 million and $2.4 million in the twenty-six weeks ended August 2, 2008 and August 4, 2007, respectively. This excerpt taken from the FL 10-Q filed Jun 11, 2008. Restricted Stock and Units Restricted shares of the Company’s common stock may be awarded to certain officers and key employees of the Company. For executives outside of the United States the Company issues restricted stock units. Each restricted stock unit represents the right to receive one share of the Company’s common stock provided that the vesting conditions are satisfied. As of May 3, 2008, 107,500 restricted stock units are outstanding. Compensation expense is recognized using the fair market value at the date of grant and is amortized over the vesting period, provided the recipient continues to be employed by the Company. These awards fully vest after the passage of time, generally three years. Restricted stock is considered outstanding at the time of grant, as the holders of restricted stock are entitled to receive dividends and have voting rights. Restricted shares and units activity for the thirteen weeks ended May 3, 2008 and May 5, 2007 is summarized as follows:
The weighted average grant-date fair value per share was $11.66 and $23.42 for restricted awards granted during the first quarter of 2008 and 2007, respectively. The total value of awards for which restrictions lapsed during the first quarter of 2008 was $1.6 million. As of May 3, 2008, there was $11.0 million of total unrecognized compensation cost, related to nonvested restricted awards. The Company recorded compensation expense related to restricted awards, net of forfeitures, of $2.1 million and $1.4 million in the first quarter of 2008 and 2007, respectively. | EXCERPTS ON THIS PAGE:
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