SHOR » Topics » 11. Restricted Stock

This excerpt taken from the SHOR 10-Q filed May 8, 2009.

10. Restricted Stock

Under the 2007 Plan, during the nine months ended March 31, 2009, the Company issued restricted stock awards to non-employee directors electing to receive them in lieu of an annual cash retainer.

In addition, restricted stock units can be issued under the 2007 Plan to eligible employees, and generally vest 25% at one year or 50% at two years from the date of grant and 25% annually thereafter.

Restricted stock award and restricted stock unit activity for the nine months ended March 31, 2009 and 2008 is as follows (in thousands):

 

     Nine Months Ended
March 31, 2009
    Nine Months Ended
March 31, 2008
 

Beginning balance

   70     —    

Awarded

   522     66  

Released

   (46 )   (16 )

Forfeited

   (28 )   —    
            

Ending balance

   518     50  
            

Information regarding restricted stock units outstanding at March 31, 2009 is summarized below:

 

     Number of
Shares
(thousands)
   Weighted
Average
Remaining
Contractual
Life
   Aggregate
Intrinsic
Value

(thousands)

Shares outstanding

   518    2.07 years    $ 2,235

Shares vested and expected to vest

   384    1.98 years    $ 1,655

Shares exercisable

   —      —      $ —  
This excerpt taken from the SHOR 10-Q filed Feb 9, 2009.

11. Restricted Stock

Under the 2007 Plan, during the six months ended December 31, 2008, the Company issued restricted stock awards to non-employee directors electing to receive them in lieu of an annual cash retainer.

In addition, restricted stock units can be issued under the 2007 Plan to eligible employees, and generally vest 25% at one year or 50% at two years from the date of grant and 25% annually thereafter.

Restricted stock award and restricted stock unit activity for the six months ended December 31, 2008 and 2007 is as follows (in thousands):

 

     Six Months Ended
December 31, 2008
    Six Months Ended
December 31, 2007

Beginning balance

   70     —  

Awarded

   488     —  

Released

   (28 )   —  

Forfeited

   (18 )   —  
          

Ending balance

   512     —  
          

Information regarding restricted stock units outstanding at December 31, 2008 is summarized below:

 

     Number of
Shares
(thousands)
   Weighted
Average
Remaining
Contractual
Life
   Aggregate
Intrinsic Value
(thousands)

Shares outstanding

   512    2.31 years    $ 2,295

Shares vested and expected to vest

   392    2.23 years    $ 1,759
This excerpt taken from the SHOR 10-Q filed Nov 6, 2008.

11. Restricted Stock

Under the 2007 Plan, during the three months ending September 30, 2008, the Company issued restricted stock awards to non-employee directors electing to receive them in lieu of an annual cash retainer.

In addition, restricted stock units can be issued under the 2007 Plan to eligible employees, and generally vest 25% at one year or 50% at two years from the date of grant and 25% annually thereafter.

Restricted stock award and restricted stock unit activity for the three months ended September 30, 2008 and 2007 is as follows (in thousands):

 

     Three Months Ended
September 30, 2008
    Three Months Ended
September 30, 2007

Beginning balance

   70     —  

Awarded

   416     —  

Released

   (12 )   —  

Forfeited

   —       —  
          

Ending balance

   474     —  
          

Information regarding restricted stock units outstanding at September 30, 2008 is summarized below:

 

     Number of
Shares
(thousands)
   Weighted
Average
Remaining
Contractual
Life
   Aggregate
Intrinsic Value
(thousands)

Shares outstanding

   474    2.56 years    $ 2,722

Shares vested and expected to vest

   360    2.48 years    $ 2,069

 

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