XML 19 R37.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock Options, Stock Appreciation Rights and Restricted Shares (Details) (USD $)
3 Months Ended 9 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Apr. 15, 2014
Plan
Sep. 30, 2014
Stock Appreciation Rights (SARs) [Member]
Sep. 30, 2014
Stock Option [Member]
Sep. 30, 2014
Restricted Share [Member]
Sep. 30, 2013
Restricted Share [Member]
Sep. 30, 2014
Restricted Share [Member]
Sep. 30, 2014
Common Stock Options and Stock Appreciation Rights [Member]
Sep. 30, 2014
Common Stock Options and Stock Appreciation Rights [Member]
Dec. 31, 2013
Common Stock Options and Stock Appreciation Rights [Member]
Sep. 30, 2014
Time Based Awards [Member]
Sep. 30, 2014
Performance Based Awards [Member]
Sep. 30, 2014
Outside Director Awards [Member]
Sep. 30, 2014
Restricted Share Units [Member]
Sep. 30, 2014
Restricted Share Units [Member]
Sep. 30, 2014
Restricted Share Units [Member]
Senior Executive Officers [Member]
Minimum [Member]
Sep. 30, 2014
Restricted Share Units [Member]
Senior Executive Officers [Member]
Maximum [Member]
Sep. 30, 2014
Restricted Share Units [Member]
Leadership Team [Member]
Sep. 30, 2014
2014 Equity Incentive Plan [Member]
Apr. 15, 2014
2014 Equity Incentive Plan [Member]
Associate and Director Awards [Member]
Subsequent Event [Member]
Apr. 15, 2014
2004 Plan and Mid-America Plan [Member]
Associate and Director Awards [Member]
Subsequent Event [Member]
Stock Options, Stock Appreciation Rights and Restricted Shares [Abstract]                                              
Number of equity incentive plan       2                                      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                                              
Shares available for issuances (in shares)                                         1,341,509 930,000 396,000
Number [Roll Forward]                                              
Outstanding, Ending Balance (in shares)         3,700 779,000       782,783 782,783 1,002,500                      
Granted (in shares)                     0                        
Exercised (in shares)         (1,586)           (217,499)                        
Forfeited (in shares)                     (632)                        
Outstanding, Ending Balance (in shares)         3,700 779,000       782,783 782,783 1,002,500                      
Outstanding and expected to vest (in shares)                   782,783 782,783                        
Weighted average exercise price [Abstract]                                              
Outstanding, Beginning Balance (in dollars per share)                     $ 25.77                        
Outstanding, Ending Balance (in dollars per share)                   $ 26.70 $ 26.70 $ 25.77                      
Options exercisable (in dollars per share)                   $ 26.70 $ 26.70                        
Weighted average contractual remaining term [Abstract]                                              
Outstanding, beginning of period                     2 years 2 years 5 months 23 days                      
Outstanding, end of period                     2 years 2 years 5 months 23 days                      
Outstanding and expected to vest                     2 years                        
Aggregate intrinsic value [Abstract]                                              
Outstanding, beginning of period                     $ 7,097,000 [1]                        
Outstanding, end of period                   7,676,000 [2] 7,676,000 [2] 7,097,000 [1]                      
Outstanding and expected to vest                   7,676,000 [2] 7,676,000 [2]                        
Quoted closing price of common stock (in dollars per share)                   $ 36.10 $ 36.10 $ 32.53                      
Number of awards used in aggregate intrinsic value (in shares)                   782,783 782,783 931,425                      
Number of award option vested with no intrinsic value (in shares)                   0                          
Average exercise price of option awards with no intrinsic value (in dollars per share)                   $ 0.00                          
Unrecognized compensation cost related to unvested stock options granted                   0 0                        
Stock option compensation expense recorded using the Black-Scholes valuation model 0   13,000                                        
Number [Roll Forward]                                              
Unvested, beginning of period (in shares)                 821,695                            
Shares awarded (in shares)                 122,317       110,118 [3] 186,943 [4] 12,199 [5]     58,404 102,209 29,087      
Conversion of restricted share units to restricted share awards (in shares)                 186,943                            
Restrictions lapsed and shares released to associates/directors (in shares)                 (242,136)                            
Shares forfeited (in shares)                 (27,844) [6]       (2,364) [3],[7] (3,096) [4],[7] 0 [5],[7]                
Unvested, end of period (in shares)             860,975   860,975       107,754 [3] 183,847 [4] 12,199 [5]                
Grant date weighted average cost [Roll Forward]                                              
Unvested, beginning of period (in dollars per share)                 $ 19.18                            
Shares awarded (in dollars per share)                 $ 33.16                            
Conversion of restricted share units to restricted share awards (in dollars per share)                 $ 31.68                            
Restrictions lapsed and shares released to associates/directors (in dollars per share)                 $ 18.23                            
Shares forfeited (in dollars per share)                 $ 20.75 [6]                            
Unvested, end of period (in dollars per share)             $ 24.10   $ 24.10                            
Shares forfeited due to failure to meet performance targets (in shares)                 0                            
Restricted stock grants grouped by similar vesting criteria [Abstract]                                              
Group                         Associates [3],[8] Leadership team [4],[8] Outside directors [5],[8]                
Vesting Period in years                         5 years [3] 5 years [4] 1 year [5]                
Shares awarded (in shares)                 122,317       110,118 [3] 186,943 [4] 12,199 [5]     58,404 102,209 29,087      
Restrictions lapsed and shares released to participants (in shares)                         0 [3] 0 [4] 0 [5]                
Shares forfeited by participants (in shares)                 27,844 [6]       2,364 [3],[7] 3,096 [4],[7] 0 [5],[7]                
Shares Unvested (in shares)             860,975   860,975       107,754 [3] 183,847 [4] 12,199 [5]                
Compensation costs attributable to all restricted share awards   $ 3.7 $ 3.0       $ 1.3 $ 1.0               $ 93,000 $ 248,000            
Restricted Share Units [Abstract]                                              
Restricted share units, awarded (in shares)                 122,317       110,118 [3] 186,943 [4] 12,199 [5]     58,404 102,209 29,087      
Percentage of awards eligible for conversion to restricted share awards (in hundredths)                                 33.00%            
Percentage of shares for which restrictions lapse based on the attainment of certain soundness targets (in hundredths)                                 50.00%            
[1] The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted closing price of Pinnacle Financial common stock of $32.53 per common share at December 31, 2013 for the approximately 931,425 options and stock appreciation rights that were in-the-money at December 31, 2013.
[2] The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted closing price of Pinnacle Financial common stock of $36.10 per common share at September 30, 2014 for the approximately 782,783 options and stock appreciation rights that were in-the-money at September 30, 2014.
[3] The forfeiture restrictions on these restricted share awards lapse in equal annual installments on the anniversary date of the grant.
[4] The forfeiture restrictions on these restricted share awards lapse in separate equal installments should Pinnacle Financial achieve certain earnings and soundness targets over each year of the subsequent vesting period (or alternatively, the cumulative vesting period).
[5] Restricted share awards are issued to the outside members of the board of directors in accordance with their board compensation plan. Restrictions lapse on the one year anniversary date of the award based on each individual board member meeting their attendance goals for the various board and board committee meetings to which each member was scheduled to attend.
[6] Represents shares forfeited due to employee termination and/or retirement. No shares were forfeited due to failure to meet performance targets.
[7] These shares represent forfeitures resulting from recipients for whom employment terminated during the year-to-date period ended September 30, 2014. Any dividends paid on shares for which the forfeiture restrictions do not lapse will be recouped by the Company at the time of termination.
[8] Groups include employees (referred to as associates above), the leadership team which includes our named executive officers and other key senior leadership members, and outside directors. When restricted shares are awarded, a participant receives voting rights and forfeitable dividend rights with respect to the shares, but is not able to transfer the shares until the restrictions have lapsed. Once the restrictions lapse, the participant is taxed on the value of the award and may elect to sell some shares to pay the applicable income taxes associated with the award. For time-based restricted share awards, dividends paid on shares for which the forfeiture restrictions do not lapse will be recouped by the Company at the time of termination. For performance-based awards, dividends are placed into escrow until the forfeiture restrictions on such shares lapse.