IKAN » Topics » Restricted Stock Units

This excerpt taken from the IKAN DEF 14A filed Jul 1, 2009.

Restricted Stock Units

A summary of our restricted stock unit activity is presented below (in thousands):

 

     Shares     Weighted-
Average
Grant Date
Fair Value
Per Share

Restricted stock units outstanding at December 30, 2007

   1,304      $ 8.47

Granted

   1,056        4.23

Vested

   (941     7.53

Forfeited

   (401     6.46
        

Restricted stock units outstanding at December 28, 2008

   1,018        5.58
        

The weighted average grant date fair value per restricted stock units granted was $4.23, $7.38 and $15.37 during the year ended December 28, 2008, December 30, 2007 and December 31, 2006, respectively. The total fair values of restricted stock units that vested were $7.1 million, $6.2 million and $0.6 million during the years ended December 28, 2008, December 30, 2007 and December 31, 2006, respectively. The restricted stock units have one to four years vesting terms and are scheduled to vest through 2011. Tax related withholdings of restricted stock units totaled $0.9 million, $1.3 million and $0 during the years ended December 28, 2008, December 30, 2007 and December 31, 2006, respectively.

These excerpts taken from the IKAN 10-K filed Mar 11, 2009.

Restricted Stock Units

A summary of our restricted stock unit activity is presented below (in thousands):

 

     Shares     Weighted-
Average
Grant Date
Fair Value
Per Share

Restricted stock units outstanding at December 30, 2007

   1,304     $ 8.47

Granted

   1,056       4.23

Vested

   (941 )     7.53

Forfeited

   (401 )     6.46
        

Restricted stock units outstanding at December 28, 2008

   1,018       5.58
        

The weighted average grant date fair value per restricted stock units granted was $4.23, $7.38 and $15.37 during the year ended December 28, 2008, December 30, 2007 and December 31, 2006, respectively. The total

 

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fair values of restricted stock units that vested were $7.1 million, $6.2 million and $0.6 million during the years ended December 28, 2008, December 30, 2007 and December 31, 2006, respectively. The restricted stock units have one to four years vesting terms and are scheduled to vest through 2011. Tax related withholdings of restricted stock units totaled $0.9 million, $1.3 million and $0 during the years ended December 28, 2008, December 30, 2007 and December 31, 2006, respectively.

Restricted Stock Units

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">A summary of our restricted stock unit activity is presented below (in thousands):

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 











































































   Shares  Weighted-
Average
Grant Date
Fair Value
Per Share

Restricted stock units outstanding at December 30, 2007

  1,304  $8.47

Granted

  1,056   4.23

Vested

  (941)  7.53

Forfeited

  (401)  6.46
     

Restricted stock units outstanding at December 28, 2008

  1,018   5.58
     

The weighted average grant date fair value per restricted stock units granted was $4.23, $7.38 and
$15.37 during the year ended December 28, 2008, December 30, 2007 and December 31, 2006, respectively. The total

 


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fair values of restricted stock units that vested were $7.1 million, $6.2 million and $0.6 million during the years ended December 28, 2008,
December 30, 2007 and December 31, 2006, respectively. The restricted stock units have one to four years vesting terms and are scheduled to vest through 2011. Tax related withholdings of restricted stock units totaled $0.9 million,
$1.3 million and $0 during the years ended December 28, 2008, December 30, 2007 and December 31, 2006, respectively.

SIZE="2">Restricted Stock

A summary of restricted stock activity is presented below (in thousands):

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 



































































   Shares  Weighted-
Average
Grant Date
Fair Value
Per Share

Restricted stock outstanding at December 30, 2007

  88  $12.81

Granted

  —     —  

Vested

  (47)  12.81
     

Restricted stock outstanding at December 28, 2008

  41   12.81
     

The weighted average grant date fair value per restricted stock granted was $12.93 during the year
ended December 28, 2006. The total fair value of restricted stock that vested was $0.6 million, $0.8 million and $0.6 million during the years ended December 28, 2008, December 30, 2007 and December 31, 2006, respectively.
The restricted stock has three years vesting terms and is scheduled to vest through 2010.

These excerpts taken from the IKAN 10-K filed Feb 22, 2008.

Restricted Stock Units

A summary of our restricted stock unit activity is presented below (in thousands):

 

     Shares     Weighted-
Average
Grant Date
Fair Value
Per Share

Restricted stock units outstanding at January 1, 2007

   569     $ 15.18

Granted

   1,633       7.38

Vested

   (580 )     10.63

Forfeited

   (318 )     10.94
        

Restricted stock units outstanding at December 30, 2007

   1,304       8.47
        

The weighted average grant date fair value per restricted stock units granted was $7.38, $15.37 and $14.31 during the year ended December 30, 2007, December 31, 2006 and January 1 2006, respectively. The total fair values of restricted stock units that vested were $6.2 million, $0.6 million and zero during the years ended December 31, 2007, December 31, 2006 and January 1, 2006, respectively. The restricted stock units have one to four years vesting terms and are scheduled to vest through 2011.

Restricted Stock Units

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">A summary of our restricted stock unit activity is presented below (in thousands):

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 











































































   Shares  Weighted-
Average
Grant Date
Fair Value
Per Share

Restricted stock units outstanding at January 1, 2007

  569  $15.18

Granted

  1,633   7.38

Vested

  (580)  10.63

Forfeited

  (318)  10.94
     

Restricted stock units outstanding at December 30, 2007

  1,304   8.47
     

The weighted average grant date fair value per restricted stock units granted was $7.38, $15.37
and $14.31 during the year ended December 30, 2007, December 31, 2006 and January 1 2006, respectively. The total fair values of restricted stock units that vested were $6.2 million, $0.6 million and zero during the years ended
December 31, 2007, December 31, 2006 and January 1, 2006, respectively. The restricted stock units have one to four years vesting terms and are scheduled to vest through 2011.

STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%">Restricted Stock

A summary of
restricted stock activity is presented below (in thousands):

 



































































   Shares  Weighted-
Average
Grant Date
Fair Value
Per Share

Restricted stock outstanding at January 1, 2007

  151  $12.81

Granted

  —     —  

Vested

  (63)  12.81
     

Restricted stock outstanding at December 30, 2007

  88   12.81
     

The weighted average grant date fair value per restricted stock granted was $12.93 and $15.35
during the years ended, December 31, 2006 and January 1, 2006, respectively. The total fair values of restricted stock that vested were $0.8 million, $0.6 million and $0.1 million during the year ended December 30,
2007, December 31, 2006 and January 1, 2006, respectively. The restricted stock has four years vesting terms and are scheduled to vest through 2010.

FACE="Times New Roman" SIZE="2">Significant Options and Awards Modifications

During the first quarter of 2005, the Company completed
an employee stock option exchange program. The voluntary program allowed eligible employees, consultants and directors, to return to the Company existing options with an exercise price greater than $3.84 per share and exchange them for new options
that were granted on March 1, 2005. Participants in the exchange program exchanged options to purchase 633,002 shares of common stock with average exercise price of $7.53 per share for options to purchase 633,002 shares of common stock with an
exercise price of $3.84 per share. The new option grants have a vesting period identical to the exchanged options and carry an exercise price of $3.84.

FACE="Times New Roman" SIZE="2">Prior to the adoption of SFAS 123(R), the Company used the intrinsic value method for reporting purposes. As a result, the modification of these options was treated as an exchange of the original award for a new
award and the resulting expense was recorded as stock-based compensation expense. As a result of the modification to

 


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the exercise price of the stock options, the replacement options were accounted for as variable from the date of modification and were required to be
revalued at the end of each accounting period based upon the then current market price of the underlying common stock. Such re-valuation was performed until the option was either exercised, forfeited, canceled or expired. The Company recorded
$5.6 million of additional deferred stock-based compensation expense and net stock compensation expense of $3.4 million during the year ended January 1, 2006 in connection with the exchange program. Upon the adoption of SFAS 123(R) on
January 2, 2006, the unearned stock-based compensation balance was reclassified to additional-paid-in-capital. The unamortized portion, as of January 2, 2006, of the modification date fair value of the modification of these options,
estimated in accordance with the original provisions of SFAS 123, is being amortized using the accelerated amortization method.

This excerpt taken from the IKAN 10-Q filed May 11, 2007.

Restricted Stock Units

A summary of our restricted stock unit activity is presented below (shares are in thousands):

 

     Shares     Weighted-
Average
Grant Date Fair
Value Per Share

Restricted stock units outstanding at December 31, 2006

   569     $ 15.18

Granted

   834       8.22

Vested

   (50 )     19.03

Forfeited

   (54 )     15.86
        

Restricted stock units outstanding at April 1, 2007

   1,299       10.54
        

The weighted average grant date fair value per restricted stock units granted was $8.22 during the three months ended April 1, 2007. The total fair values of restricted stock units that vested during the three months ended April 1, 2007 was $1 million. Our restricted stock units have vesting terms of one to four years and are scheduled to vest through 2011.

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