Allegheny Power 2013 Annual Report Download - page 106

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91
Options Outstanding
Range of
Exercise Prices Shares
Weighted
Average
Exercise
Price
Remaining
Contractual
Life
(in years)
$20.02-$35.44 66,125 $ 22.83 0.47
$35.45-$38.75 1,143,389 $ 36.78 6.28
$38.76-$53.04 835,039 $ 38.81 0.19
$53.05-$81.19 314,573 $ 77.85 3.56
Total 2,359,126 $ 42.59 3.60
Cash received from the exercise of stock options in 2013, 2012 and 2011 was $19 million, $50 million and $32 million, respectively.
The total intrinsic value of options exercised during 2013 was $6 million.
Performance Shares
Performance shares are share equivalents and do not have voting rights. The shares track the performance of FE's common stock
over a three-year vesting period. During that time, dividend equivalents accrue and at vesting are converted into additional
performance shares. The final account value may be adjusted based on the ranking of FE stock performance to a composite of
peer companies. During 2013, 2012 and 2011, no cash was paid to settle performance shares due to the criteria not being met for
the previous three-year vesting period.
401(k) Savings Plan
In 2013, 2012 and 2011, shares of FE common stock were purchased on the market and contributed to participants’ accounts.
EDCP
Under the EDCP, covered employees can direct a portion of their compensation, including annual incentive awards and/or long-
term incentive awards, into unfunded FE stock accounts to receive vested stock units or into an unfunded retirement cash account.
Dividends are calculated quarterly on stock units outstanding and are credited in the form of additional stock units. Upon withdrawal,
stock units are converted to FE shares. Payout of the stock accounts typically occurs three years from the date of deferral; however,
an election can be made in the year prior to payout to further defer shares into a retirement stock account that will pay out in cash
upon retirement. Interest is calculated on the cash allocated to the cash account and the total balance will pay out in cash upon
retirement.
DCPD
Under the DCPD, members of the Board of Directors can elect to allocate all or a portion of their equity retainers to deferred stock
and their cash retainers, meeting fees and chair fees to deferred stock or deferred cash accounts. The net liability recognized for
DCPD of approximately $7 million and $6 million as of December 31, 2013 and December 31, 2012, respectively, is included in the
caption “Retirement benefits” on the Consolidated Balance Sheets.
Of the approximately 1.7 million shares authorized under the EDCP and DCPD, approximately 845,000 shares were available for
future issuance as of December 31, 2013. The shareholder approved pools for the EDCP and DCPD terminate in May 2014.
Stock-based Compensation Expense
Pre-tax stock-based compensation costs, tax benefit associated with stock-based compensation expense, and the amount of stock-
based compensation expense capitalized related to FirstEnergy and FES plans are included in the following tables: