S » Topics » Option Exercises and Stock Vested

This excerpt taken from the S DEF 14A filed Mar 30, 2009.

Option Exercises and Stock Vested

The table below summarizes option awards that were exercised and stock awards that vested in 2008 with respect to each of our named executive officers.

 

     Option Awards    Sprint Nextel Stock Awards

Name

   Number of
Shares
Acquired on
Exercise

(#)
   Value
Realized on
Exercise

(1)($)
   Number of
Shares
Acquired on
Vesting

(#)
    Value
Realized on
Vesting

(2)($)

Daniel R. Hesse

   0    0    668,089 (3)   1,255,135

Robert H. Brust

   0    0    0     0

Keith O. Cowan

   0    0    214,227 (4)   396,320

Steven L. Elfman

   0    0    128,536 (5)   237,792

Robert L. Johnson

   0    0    101,074 (6)   487,264

Former Executive Officers:

          

Paul N. Saleh

   1,317,356    4,090,696    369,763 (7)   3,320,490

William G. Arendt

   0    0    144,258 (8)   297,590

Leonard J. Kennedy

   0    0    311,597 (9)   569,163

Mark E. Angelino

   9,497    18,619    134,409 (10)   1,168,014

 

(1) Amounts reflect the difference between the exercise price of the option and the market price of the underlying common stock at the time of exercise multiplied by the number of shares acquired on exercise.
(2) Amounts reflect the market price of the underlying common stock on the day the RSU award vested multiplied by the number of shares that vested.
(3) Pursuant to his employment agreement, 239,635 of these RSUs vested but the shares of common stock will not be delivered to Mr. Hesse until seven months after his date of termination. Mr. Hesse surrendered 181,879 shares of common stock receivable upon the vesting of the remaining 428,454 RSU awards to satisfy tax withholding obligations, resulting in Mr. Hesse receiving 246,575 shares of our common stock.
(4) Mr. Cowan surrendered 88,798 shares of common stock receivable upon the vesting of this RSU award to satisfy tax withholding obligations, resulting in Mr. Cowan receiving 125,429 shares of our common stock.
(5) Mr. Elfman surrendered 41,710 shares of common stock receivable upon the vesting of this RSU award to satisfy tax withholding obligations, resulting in Mr. Elfman receiving 86,826 shares of our common stock.
(6) Mr. Johnson surrendered 41,013 shares of common stock receivable upon the vesting of these RSU awards to satisfy tax withholding obligations, resulting in Mr. Johnson receiving 60,061 shares of our common stock.
(7) Under our 2007 LTIC plan, 191,110 of these RSUs vested but the shares of common stock will not be delivered until a potential performance adjustment is made in the first quarter of 2010. Mr. Saleh surrendered 75,392 shares of common stock receivable upon the vesting of the remaining RSU awards to satisfy tax withholding obligations, resulting in Mr. Saleh receiving 103,261 shares of our common stock.
(8) Under our 2007 LTIC plan, 26,756 of these RSUs vested but the shares of common stock will not be delivered until a potential performance adjustment is made in the first quarter of 2010. Mr. Arendt surrendered 37,838 shares of common stock receivable upon the vesting of the remaining RSU awards to satisfy tax withholding obligations, resulting in Mr. Arendt receiving 79,664 shares of our common stock.
(9) Under our 2007 LTIC plan, 61,155 of these RSUs vested but the shares of common stock will not be delivered until a potential performance adjustment is made in the first quarter of 2010.
(10) Mr. Angelino surrendered 45,605 shares of common stock receivable upon the vesting of this RSU award to satisfy tax withholding obligations, resulting in Mr. Angelino receiving 88,804 shares of our common stock.
This excerpt taken from the S DEF 14A filed Mar 27, 2008.

Option Exercises and Stock Vested

The table below summarizes option awards that were exercised and stock awards that vested in 2007 with respect to each of our named executive officers. The table below reflects the following actions taken in connection with the May 17, 2006 spin-off of Embarq:

 

   

Each outstanding stock option held by a named executive officer was adjusted by multiplying the number of shares subject to the option by 1.0955 and dividing the exercise price by the same number.

 

   

Each named executive officer who held an RSU award entitled to receive dividend equivalent payments, which includes substantially all RSU awards that were outstanding at the time of the spin-off, received one Embarq RSU award for every 20 Sprint Nextel RSU awards held. The vesting schedule for each Embarq RSU award is identical to the vesting schedule of the related Sprint Nextel RSU award.

 

   

Each outstanding deferred share award granted under the Nextel Incentive Equity Plan was adjusted by multiplying the number of deferred shares by 1.0955, and cash was paid to the named executive officer in lieu of any fractional share.

 

     Option Awards    Sprint Nextel Stock Awards    Embarq Stock Awards

Name

   Number of
Shares
Acquired on
Exercise

(#)
   Value
Realized on
Exercise
($)(1)
   Number of
Shares
Acquired
on Vesting
(#)
    Value
Realized on
Vesting
($)(2)
   Number of
Shares
Acquired on
Vesting (#)
    Value
Realized on
Vesting
($)(2)

Daniel R. Hesse

   0    0    0     0    0     0

Paul N. Saleh

   0    0    106,812 (3)   2,070,017    0     0

Barry J. West

   411,132    4,703,567    41,841 (4)   810,879    0     0

Timothy E. Kelly

   0    0    51,843 (5)   930,063    2,592 (6)   143,623

Kathryn A. Walker

   0    0    39,600 (7)   710,424    1,980 (8)   109,712

Gary D. Forsee

   0    0    1,171,127 (9)   17,125,671    60,589 (10)   3,091,671

 

(1) Amounts reflect the difference between the exercise price of the option and the market price of the underlying common stock at the time of exercise multiplied by the number of shares acquired on exercise.
(2) Amounts reflect the market price of the underlying common stock on the day the RSU award vested multiplied by the number of shares that vested.
(3) Mr. Saleh surrendered 34,394 shares of common stock receivable upon the vesting of these deferred shares to satisfy tax withholding obligations, resulting in Mr. Saleh receiving 72,418 shares of our common stock.
(4) Mr. West surrendered 13,562 shares of common stock receivable upon the vesting of these deferred shares and this RSU award to satisfy tax withholding obligations, resulting in Mr. West receiving 28,279 shares of our common stock.
(5) Mr. Kelly surrendered 16,425 shares of common stock receivable upon the vesting of these RSU awards to satisfy tax withholding obligations, resulting in Mr. Kelly receiving 35,418 shares of our common stock.
(6) Mr. Kelly surrendered 927 shares of Embarq common stock receivable upon the vesting of these RSU awards to satisfy tax withholding obligations, resulting in Mr. Kelly receiving 1,665 shares of Embarq common stock.
(7) Ms. Walker surrendered 12,591 shares of common stock receivable upon the vesting of these RSU awards to satisfy tax withholding obligations, resulting in Ms. Walker receiving 27,009 shares of our common stock.
(8) Ms. Walker surrendered 734 shares of Embarq common stock receivable upon the vesting of these RSU awards to satisfy tax withholding obligations, resulting in Ms. Walker receiving 1,246 shares of Embarq common stock.
(9) Mr. Forsee surrendered 499,574 shares of common stock receivable upon the vesting of these RSU awards to satisfy tax withholding obligations, resulting in Mr. Forsee receiving 671,553 shares of our common stock.
(10) Mr. Forsee surrendered 24,720 shares of Embarq common stock receivable upon the vesting of these RSU awards to satisfy tax withholding obligations, resulting in Mr. Forsee receiving 35,869 shares of Embarq common stock.

 

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