Cablevision 2013 Annual Report Download - page 174

Download and view the complete annual report

Please find page 174 of the 2013 Cablevision annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 196

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except per share amounts)
F-65
Share-Based Payment Award Activity
The following table summarizes activity relating to Company employees who held Cablevision stock
options for the year ended December 31, 2013:
Weighted
Shares
Under Option
Weighted
Average
Average
Remaining
Time
Vesting
Options
Performance
Based Vesting
Options
Exercise
Price Per
Share
Contractual
Term
(in years)
Aggregate
Intrinsic
Value(a)
Balance, December 31,
2012 ...........................
.
2,789,342 12,319,000 $13.05
7.88
$29,143
Granted .......................
.
2,000,000 - 13.98
Exercised(b) ................
.
(274,863) (1,279,575) 12.56
Forfeited/Expired ........
.
- (400,300) 13.93
Balance, December 31,
2013 ...........................
.
4,514,479 10,639,125 $13.20
7.21
$71,823
Options exercisable at
December 31, 2013 .....
.
2,414,479 5,094,175 $12.37
5.99
$41,743
Options expected to vest
in the future ................
.
2,100,000 5,512,436 $14.02
8.41
$29,950
___________________________
(a) The aggregate intrinsic value is calculated as the difference between (i) the exercise price of the underlying award
and (ii) the quoted price of CNYG Class A common stock on December 31, 2013 or December 31, 2012, as
indicated, and December 31, 2013 in the case of the options exercisable and options expected to vest in the future.
(b) Includes 180,000 options that were exercised pursuant to a cashless exercise, of which approximately 143,000
stock options were surrendered to the Company in order to meet tax withholding requirements and for the exercise
price of the stock options.
In addition, as of December 31, 2013, AMC Networks and Madison Square Garden employees held a
total of 635,549 Cablevision stock options. These stock options are not expensed by the Company,
however such stock options may have a dilutive effect on net income per share attributable to Cablevision
stockholders.
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 15,689,153 options outstanding that
were in-the-money (which includes 8,144,203 exercisable options) at December 31, 2013. For the year
ended December 31, 2013, the aggregate intrinsic value of options exercised under Cablevision's stock
option plans was $7,927 determined as of the date of option exercise, as applicable. When an option is
exercised, Cablevision issues new shares of stock.