Allegheny Power 2013 Annual Report Download - page 105
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90
Restricted Stock
Number of
Shares
Weighted
Average
Grant-Date
Fair Value
Nonvested as of January 1, 2013 551,678 $ 46.73
Nonvested as of December 31, 2013 417,464 $ 45.46
Granted in 2013 27,561 $ 42.53
Vested in 2013(1) 167,751 $ 37.10
(1) Includes 23,446 shares for dividends earned during vesting period
FirstEnergy grants two types of stock unit awards: discretionary-based and performance-based. The discretionary-based awards
grant the right to receive, at the end of the period of restriction, a number of shares of common stock equal to the number of stock
units set forth in each agreement. Performance-based awards grant the right to receive, at the end of the period of restriction, a
number of shares of common stock equal to the number of stock units set forth in the agreement subject to adjustment based on
FirstEnergy's performance relative to financial and operational performance targets.
2013 2012 2011
Restricted stock units granted 924,576 652,120 617,195
Weighted average vesting period (years) 3.00 3.00 3.00
Vesting activity for stock units during 2013 was as follows:
Restricted Stock Units
Number of
Shares
Weighted
Average
Grant-Date
Fair Value
Nonvested as of January 1, 2013 1,628,744 $ 41.10
Nonvested as of December 31, 2013 1,799,145 $ 40.86
Granted in 2013 924,576 $ 39.90
Forfeited in 2013 82,629 $ 41.38
Vested in 2013 (1) 792,113 $ 40.74
(1) Includes dividend equivalents of 120,567 earned during vesting period
As of December 31, 2013, there was $35 million of total unrecognized compensation cost related to non-vested share-based
compensation arrangements granted for restricted stock and restricted stock units; that cost is expected to be recognized over a
period of approximately 2 years.
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 activity during 2013 was as follows:
Stock Option Activity
Number of
Shares
Weighted
Average
Exercise
Price
Balance, January 1, 2013 (2,348,469 options exercisable) 2,910,269 $ 40.33
Options exercised (546,408) 30.37
Options forfeited (4,735) 71.21
Balance, December 31, 2013 (1,997,969 options exercisable) 2,359,126 $ 42.59
Options outstanding and range of exercise prices as of December 31, 2013, were as follows: