AbbVie 2012 Annual Report Download - page 95
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The following table summarizes stock option activity for the year ended December 31, 2012 and stock
option outstanding balances at December 31, 2012 under Abbott’s Incentive Stock Programs for
AbbVie employees.
Weighted Weighted
(options in thousands, aggregate intrinsic average average remaining Aggregate
value in millions) Options exercise price life (in years) intrinsic value
Outstanding at December 31, 2011 25,783 $49.77 4.1
Granted 944 62.54
Exercised (13,347) 49.62
Lapsed (95) 53.88
Outstanding at December 31, 2012 13,285 $50.80 3.7 $196
Exercisable at December 31, 2012 12,329 $50.09 3.6 $190
The aggregate intrinsic value in the table above represents the difference between the exercise price
and the closing stock price on the last day of trading of the year. The total intrinsic value of options
exercised in 2012, 2011 and 2010 was $170 million, $31 million and $20 million, respectively.
As of December 31, 2012, $1 million of unrecognized compensation cost related to stock options is
expected to be recognized as expense over the next three years.
RSAs & RSUs
Restricted stock awards generally vest between three and five years. For restricted stock awards that
vest over five years, no more than one-third of the award vests in any one year. RSUs vest over three
years and upon vesting, the recipient receives one share of common stock for each vested restricted
stock unit. The fair value of RSAs and RSUs is determined based on the number of shares granted and
the quoted price of the common stock on the date of grant.
The following table summarizes RSAs and RSUs balances and activity under Abbott’s Incentive Stock
Programs for AbbVie employees.
Weighted average
(share units in thousands) Share units grant date fair value
Nonvested shares December 31, 2011 4,710 $50.29
Granted 2,749 56.07
Vested (2,164) 51.23
Lapsed (251) 48.62
Nonvested shares December 31, 2012 5,044 $53.12
The fair market value of restricted stock awards and units vested in 2012, 2011 and 2010 was
$123 million, $74 million and $53 million, respectively. As of December 31, 2012, $90 million of
unrecognized compensation cost related to RSAs and RSUs is expected to be recognized as expense
over the next three years.
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