Cablevision 2012 Annual Report Download - page 198

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except per share amounts)
I-70
The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying
awards and the quoted price of Cablevision's common stock for the 15,579,344 options outstanding that
were in-the-money (which includes 3,623,044 exercisable options) at December 31, 2012. For the year
ended December 31, 2012, the aggregate intrinsic value of options exercised under Cablevision's stock
option plans was $22,265 determined as of the date of option exercise, as applicable. When an option is
exercised, Cablevision issues new shares of stock.
Cablevision stock options held by AMC Networks and Madison Square Garden employees are not
expensed by the Company, however such stock options do have a dilutive effect on net income per share
attributable to Cablevision stockholders.
The following table summarizes activity relating to Company employees who held Cablevision restricted
shares for the year ended December 31, 2012:
Number of
Restricted
Shares
Number of
Performance
Restricted
Shares
Weighted
Average Fair
Value Per
Share at Date of
Grant
Unvested award balance, December 31, 2011 .................
.
4,768,482 540,700 $13.89
Granted .........................................................................
.
2,344,530 756,400 14.49(a)
Vested .........................................................................
.
(2,598,817) - 6.28
Awards forfeited ..........................................................
.
(503,520) - 18.17
Unvested award balance, December 31, 2012 .................
.
4,010,675 1,297,100 $18.06(a)
________________
(a) Does not include the fair value per share of the performance based restricted shares granted in 2012 as the performance
criteria had not yet been established as of December 31, 2012.
The following table summarizes activity relating to AMC Networks and Madison Square Garden
employees who held Cablevision restricted shares for the year ended December 31, 2012:
Number of
Restricted
Shares
Number of
Performance
Restricted
Shares
Weighted
Average Fair
Value Per
Share at Date of
Grant
Unvested award balance, December 31, 2011 .................
.
2,086,450 - $ 9.37
Vested ..........................................................................
.
(1,529,590) - 6.33
Awards forfeited ..........................................................
.
(37,710) - 17.71
Unvested award balance, December 31, 2012 .................
.
519,150 - $17.70
Cablevision restricted shares held by AMC Networks and Madison Square Garden employees are not
expensed by the Company, however such restricted shares do have a dilutive effect on net income per
share attributable to Cablevision stockholders.
For the years ended December 31, 2012, 2011 and 2010, 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 $602, $879 and $6,443, 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.