XML 57 R30.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stock Incentive Plan
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Incentive Plan
Stock Incentive Plan

The Company has not issued any stock options under its stock incentive plans since 2004, and there were no outstanding options at December 31, 2014. The following table summarizes stock option information:

 
 
2013
 
2012
 
 
Shares
 
Price(1)
 
Shares
 
Price(1)
Outstanding at beginning of year
 
3,375

 
$
15.17

 
1,314,057

 
$
11.04

 
 
 
 
 
 
 
 
 
Exercised
 
3,375

 
15.17

 
1,310,682

 
11.03

Canceled
 
—

 
—

 
—

 
—

Outstanding at year end
 
—

 
$
—

 
3,375

 
$
15.17

_______________________________________
(1)
Weighted average exercise price.
Pursuant to the stock incentive plan, the Company may issue restricted stock units (RSUs) to employees of the Company and its subsidiaries. The RSUs generally vest three to five years from the award date and are subject to other vesting and forfeiture provisions contained in the award agreement. The following table summarizes RSU information for the three years ended December 31, 2014:
 
2014
 
2013
 
2012
RSUs granted and unvested at beginning of period:
4,491,520

 
4,701,120

 
4,370,975

Granted
1,154,950

 
108,400

 
2,161,220

Vested
(81,500
)
 
(146,250
)
 
(1,704,625
)
Cancelled
(234,525
)
 
(171,750
)
 
(126,450
)
RSUs granted and unvested at end of period:
5,330,445

 
4,491,520

 
4,701,120


Upon vesting, shares of the Company’s common stock equal to the number of vested RSUs are issued or deferred to a later date, depending on the terms of the specific award agreement. As of December 31, 2014, 3,417,918 RSUs had been deferred. Accordingly, we have not included in the issued and outstanding common stock any shares relating to RSUs that have been granted but remain unvested or to issued RSUs that are vested and have been deferred.
The fair value of RSUs at the date of grant are recorded as unearned compensation, a component of stockholders’ equity, and expensed over the vesting period. Following is a summary of changes in unearned compensation for the three years ended December 31, 2014:
(In thousands)
2014
 
2013
 
2012
Unearned compensation at beginning of year
$
73,205

 
$
93,653

 
$
57,315

RSUs granted, net of cancellations
51,575

 
4,406

 
73,255

  RSUs expensed
(27,966
)
 
(22,881
)
 
(25,728
)
  RSUs forfeitures
(8,799
)
 
(1,973
)
 
(11,189
)
Unearned compensation at end of year
$
88,015

 
$
73,205

 
$
93,653