This excerpt taken from the HPQ DEF 14A filed Jan 20, 2009.
Grants of Restricted Stock
Through fiscal 2008, awards of restricted stock were an important component of NEO long-term incentive pay awarded as part of the annual performance cycle. As described above, a portion of an executive's target long-term incentive amount was delivered in the form of PRUs, with the remaining value awarded in grants of time-based restricted stock. Grants of restricted stock to the NEOs during
fiscal 2008 were made under the HP 2004 Stock Incentive Plan. These awards have restrictions that lapse as to one-half of the number of shares on the first and second anniversaries of the date of grant.
For more information on PRUs and restricted stock grants to the NEOs during fiscal 2008, see "Executive CompensationGrants of Plan-Based Awards in Fiscal 2008."