Cablevision 2011 Annual Report Download - page 201
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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except per share amounts)
I-77
For the years ended December 31, 2011, 2010 and 2009, the amount of cash used by the Company to
settle the aggregate intrinsic value of stock appreciation rights exercised under Cablevision's stock plans
was $879, $6,443 and $1,308, respectively, determined as of the date of exercise. The aggregate intrinsic
value, which was settled in cash, is calculated as the difference between (i) the exercise price of the
underlying awards and (ii) the quoted price of the CNYG Class A common stock as of the date of
exercise, plus dividends, as applicable.
As of December 31, 2011, there was $42,657 of total unrecognized compensation cost related to
Cablevision's unvested options and restricted shares granted under Cablevision's stock plans. The
unrecognized compensation cost is expected to be recognized over a weighted-average period of
approximately 1 year.
During the year ended December 31, 2011, 2,616,030 Cablevision restricted shares issued to employees
of the Company, AMC Networks and Madison Square Garden vested. To fulfill the employees' statutory
minimum tax withholding obligations for the applicable income and other employment taxes, 1,071,017
of these shares, with an aggregate value of $35,555, were surrendered to the Company. These acquired
shares have been classified as treasury stock.
Long-Term Incentive Plans
In April 2006, Cablevision's Board of Directors approved the Cablevision Systems Corporation 2006 Cash
Incentive Plan, which was approved by Cablevision's stockholders at its annual stockholders meeting in
May 2006.
In connection with the long-term incentive awards outstanding, the Company has recorded expenses in
continuing operations of $2,920, $48,410 and $44,106 for the years ended December 31, 2011, 2010 and 2009,
respectively. At December 31, 2011, the Company had accrued $1,970 for performance-based awards for
which the performance criteria had not yet been met as of December 31, 2011 as such awards are based on
achievement of certain performance criteria through December 31, 2012 and 2013. The Company has accrued
the amount that it currently believes will ultimately be paid based upon the performance criteria established for
these performance-based awards. In 2011, the Company reversed and substantially reduced accruals related
to awards with performance criteria through December 31, 2012 and 2013.