CarMax 2016 Annual Report Download - page 69
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Cash-Settled Restricted Stock Unit Activity
Weighted
Average
Number of Grant Date
(Units in thousands) Units Fair Value
Outstanding as of February 28, 2015 1,530 $ 39.81
Stock units granted 418 $ 73.76
Stock units vested and converted (529) $ 32.35
Stock units cancelled (99) $ 51.29
Outstanding as of February 29, 2016 1,320 $ 52.70
Cash-Settled Restricted Stock Unit Information
Years Ended February 29 or 28
2016 2015 2014
Stock units granted 418,281 587,990 541,819
Initial grant date fair value per share $ 73.76 $ 44.96 $ 42.68
Payments (before payroll tax withholdings) upon
vesting (in millions) $ 33.6 $ 21.8 $ 23.3
Realized tax benefits from vesting (in millions) $ 13.5 $ 8.8 $ 9.3
Expected Cash Settlement Range Upon Restricted Stock Unit Vesting
As of February 29, 2016
(In thousands) Minimum (1) Maximum (1)
Fiscal 2017 $ 13,679 $ 36,477
Fiscal 2018 15,947 42,524
Fiscal 2019 18,822 50,193
Total expected cash settlements $ 48,448 $ 129,194
(1) Net of estimated forfeitures.
Stock-Settled Market Stock Unit Activity
Weighted
Average
Number of Grant Date
(Units in thousands) Units Fair Value
Outstanding as of February 28, 2015 774 $ 48.30
Stock units granted 110 $ 89.73
Stock units vested and converted (339) $ 41.33
Stock units cancelled (2) $ 90.46
Outstanding as of February 29, 2016 543 $ 60.90
Stock-Settled Market Stock Unit Information
Years Ended February 29 or 28
2016 2015 2014
Stock units granted 109,956 249,801 237,660
Weighted average grant date fair value per share $ 89.73 $ 55.48 $ 52.02
Realized tax benefits from vesting (in millions) $ 17.0 $ 8.1 $ 7.9