WMS » Topics » Restricted Stock

This excerpt taken from the WMS DEF 14A filed Oct 27, 2009.

Restricted Stock

 

The following table provides additional information as of June 30, 2009, including the closing trading price of our common stock on the date of each grant and the vesting schedules of each grant, concerning the shares of restricted stock which are reflected in the Summary Compensation Table and the Grants of Plan-Based Awards Table. All of these shares were granted under our Amended and Restated Incentive Plan.

 

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Grant Date

  Grant Date
Price

Per Share
 

Recipients

  # of shares  

Vesting Schedule

      Granted   Unvested  

September 18, 2008

  $ 29.35   Brian R. Gamache   20,401   20,401   Vesting equally over four years, as long as the holder remains employed with WMS.
    Orrin J. Edidin   11,925   11,925  
    Scott D. Schweinfurth   8,627   8,627  
    Larry J. Pacey   8,234   8,234  
    Kenneth Lochiatto   13,675   13,675  

September 18, 2008

  $ 29.35   Brian R. Gamache   34,072   34,072   Vesting equally over two years, subject to achieving any one of four performance criteria in such two years.

September 18, 2008

  $ 29.35  

Orrin J. Edidin

Larry J. Pacey

  15,000

5,000

  15,000

5,000

  Vesting equally over four years, subject to achieving any one of four performance criteria in the first two years.

September 20, 2007

  $ 31.19   Larry J. Pacey   15,000   10,000   Vesting equally over three years, as long as the holder remains employed with WMS.

September 19, 2007

  $ 30.55   Brian R. Gamache   17,654   13,241   Vesting equally over four years, as long as the holder remains employed with WMS.
    Orrin J. Edidin   8,116   6,087  
    Scott D. Schweinfurth   7,452   5,589  
    Larry J. Pacey   5,089   3,817  
    Kenneth Lochiatto   3,474   2,606  

June 7, 2007

  $ 27.95   Brian R. Gamache   28,941   14,471   Vesting equally over four years, as long as the holder remains employed with WMS.
    Orrin J. Edidin   13,773   6,887  
    Scott D. Schweinfurth   12,628   6,314  

June 16, 2005

  $ 22.60   Larry J. Pacey   22,500   4,500   Vesting equally over five years, as long as the holder remains employed with WMS.

 

This excerpt taken from the WMS DEF 14A filed Oct 24, 2008.

Restricted Stock

 

The following table provides additional information as of June 30, 2008, including the closing price on the date of each grant and the vesting schedules of each grant, concerning the shares of restricted stock which are reflected in the Summary Compensation Table and the Grants of Plan-Based Awards Table. All of these shares were granted under our Amended and Restated 2005 Incentive Plan.

 

     Restricted Stock

Grant Date

  Grant Date
Price

Per Share
 

Recipients

  # of shares  

Vesting Schedule

      Granted   Unvested  

December 9, 2004

  $ 20.33   Brian R. Gamache   101,185   —     Vesting equally over three years; the last third vested on December 9, 2007.
    Orrin J. Edidin   46,483   —    
    Scott D. Schweinfurth   42,733   —    

June 7, 2007

  $ 27.95   Brian R. Gamache   28,941   21,706   Vesting equally over four years, as long as the holder remains employed with WMS.
    Orrin J. Edidin   13,773   10,330  
    Scott D. Schweinfurth   12,628   9,471  

September 19, 2007

  $ 30.55   Brian R. Gamache   17,654   17,654   Vesting equally over four years, as long as the holder remains employed with WMS.
    Orrin J. Edidin   8,116   8,116  
    Scott D. Schweinfurth   7,452   7,452  
    Patricia C. Barten   3,589   3,589  
    Kathleen J. McJohn   3,901   3,901  

 

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This excerpt taken from the WMS 10-Q filed May 10, 2006.

Restricted Stock

Under the Plan, participants may be granted restricted stock, representing an unfunded, unsecured right, which is nontransferable except in the event of death of the participant, to receive a WMS common share on the date specified in the participant’s award agreement. The restricted stock granted under this plan is subject to vesting generally occurring equally over three to five years on the grant-date anniversary. Compensation expense is recognized on a straight-line basis over the vesting period. Restricted stock activity was as follows:

 

    

Restricted Stock

Shares

   

Weighted Average

Grant-Date

Fair Value(1)

Nonvested balance at June 30, 2005

   0.3     $ 30.70

Granted

   —         —  

Vested

   (0.1 )     30.49

Forfeited

   —         —  
            

Nonvested balance at March 31, 2006

   0.2     $ 30.75
            

(1) For restricted stock, grant-date fair value is equal to the closing market price of a share of WMS common stock on the grant-date.

As of March 31, 2006, there was $5.2 million of total restricted share unit compensation expense related to nonvested awards not yet recognized, which is expected to be recognized over a weighted average period of 1.9 years.

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