This excerpt taken from the PBG 10-K filed Feb 27, 2008.
Restricted Stock Units Restricted stock units granted to employees generally vest over three years. In addition, restricted stock unit awards to certain senior executives contain vesting provisions that are contingent upon the achievement of pre-established performance targets. The initial restricted stock unit award to Directors remains restricted while the individual serves on the Board. The annual grants to Directors vest immediately, but may be deferred. All restricted stock unit awards are settled in shares of PBG common stock.
The following table summarizes restricted stock unit activity during the year ended December 29, 2007:
For the years ended December 29, 2007, December 30, 2006 and December 31, 2005, the weighted-average grant-date fair value of restricted stock units granted was $31.02, $29.55 and $28.12, respectively. The total intrinsic value of restricted stock units converted during the years ended December 29, 2007 and December 30, 2006 was approximately $575 thousand and $248 thousand, respectively. No restricted stock units were converted during fiscal year 2005.