Allegheny Power 2014 Annual Report Download - page 96

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81
2014 2013 2012
Restricted stock granted 20,000 27,561 263,771
Weighted average market price $ 32.71 $ 42.53 $ 44.82
Weighted average vesting period (years) 2.29 3.68 3.09
Dividends restricted Yes Yes Yes
Vesting activity for restricted stock during 2014 was as follows:
Restricted Stock Number of
Shares
Weighted
Average
Grant-Date
Fair Value
Nonvested as of January 1, 2014 417,464 $ 45.46
Nonvested as of December 31, 2014 342,286 $ 45.29
Granted in 2014 20,000 $ 32.71
Forfeited in 2014 1,743 $ 33.56
Vested in 2014(1) 93,435 $ 37.30
(1) Excludes 16,480 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.
2014 2013 2012
Restricted stock units granted 1,151,318 924,576 652,120
Weighted average vesting period (years) 3.00 3.00 3.00
Vesting activity for stock units during 2014 was as follows:
Restricted Stock Units Number of
Shares
Weighted
Average
Grant-Date
Fair Value
Nonvested as of January 1, 2014 1,799,145 $ 40.86
Nonvested as of December 31, 2014 2,069,518 $ 37.65
Granted in 2014 1,151,318 $ 32.17
Forfeited in 2014 101,806 $ 38.70
Vested in 2014 (1) 779,139 $ 30.67
(1) Excludes dividend equivalents of 132,502 earned during vesting period
As of December 31, 2014, there was $31 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 2014 was as follows: