Allegheny Power 2010 Annual Report Download - page 91

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76
Vesting activity for restricted common stock during 2010 was as follows (forfeitures were not material):
Weighted
Number Average
of Grant-Date
Restricted Stock Shares Fair Value
Nonvested as of January 1, 2010 648,293 $ 50.39
Nonvested as of December 31, 2010 475,914 51.26
Granted in 2010 71,752 38.43
Vested in 2010 292,152 38.75
FirstEnergy grants two types of restricted stock unit awards: discretionary-based and performance-based. With the
discretionary-based, FirstEnergy grants the right to receive, at the end of the period of restriction, a number of shares of
common stock equal to the number of restricted stock units set forth in each agreement. With the performance-based,
FirstEnergy grants the right to receive, at the end of the period of restriction, a number of shares of common stock equal
to the number of restricted stock units set forth in the agreement subject to adjustment based on FirstEnergy’s stock
performance.
2010 2009 2008
Restricted common shares units granted 511,418 533,399 450,683
Weighted average vesting period (years) 3.00 3.00 3.14
Vesting activity for restricted stock units during 2010 was as follows (forfeitures were not material):
Weighted
Number Average
of Grant-Date
Restricted Stock Units Shares Fair Value
Nonvested as of January 1, 2010 1,489,187 $ 54.81
Nonvested as of December 31, 2010 1,402,108 48.40
Granted in 2010 511,418 37.13
Vested in 2010 579,736 38.83
Compensation expense recognized in 2010, 2009 and 2008 for restricted stock and restricted stock units, net of amounts
capitalized, was approximately $22 million, $25 million and $29 million, respectively.
Stock Options
Stock options were granted to eligible employees allowing them to purchase a specified number of common shares at a
fixed grant price over a defined period of time. Stock option activities under FirstEnergy stock option programs during
2010 were as follows:
Weighted
Number Average
of Grant-Date
Stock Option Activities Shares Fair value
Balance, January 1, 2010 3,074,626 $ 34.69
(3,074,626 options exercisable)
Options granted - -
Options exercised 180,460 26.86
Options forfeited 5,100 21.61
Balance, December 31, 2010 2,889,066 $ 35.18
(2,889,066 options exercisable)