Cash America 2015 Annual Report Download - page 120

to 75% of their eligible earnings to the 401(k) Savings Plan, subject to regulatory and other plan restrictions.
Nonqualified Savings Plan participants may contribute up to 100% of their annual bonus and up to 50% of their
other eligible compensation to the Nonqualified Savings Plan. The Company makes matching cash contributions of
50% of each participant’s contributions to the 401(k) Savings Plan, based on participant contributions of up to 5%
of eligible compensation. Company contributions vest at the rate of 20% each year after one year of service; thus a
participant is 100% vested after five years of service. The Company’s consolidated contributions to the 401(k)
Savings Plan and the Nonqualified Savings Plan were $3.2 million, $3.5 million and $3.3 million for the years
endedDecember31,2015,2014and2013,respectively.
In addition to the plans mentioned above, the Company established a Supplemental Executive Retirement
Plan (“SERP”) for its officers in 2003. Under this defined contribution plan, the Company makes an annual
supplemental cash contribution to the SERP based on the objectives of the plan as approved by the Management
Development and Compensation Committee of the Board of Directors. The Company recorded consolidated
compensationexpenseof$0.7million,$0.5millionand$0.6millionforSERP contributions for the years ended
December31,2015,2014and2013,respectively.
The Nonqualified Savings Plan and the SERP are nonqualified deferred compensation plans. Benefits under
the Nonqualified Savings Plan and SERP are considered unfunded as the assets in the plans are subject to the claims
of the Company’s general creditors in the event of the Company’s insolvency or bankruptcy. AsofDecember31,
2015 and 2014, the Company held securities in rabbi trusts to pay benefits under these plans. The securities held in
the rabbi trusts are classified as trading securities, and the unrealized gains and losses on these securities are netted
with the costs of the plans in “Operations and administration expense” in the consolidated statements of income.
Amounts included in the consolidated balance sheets relating to the Nonqualified Savings Plan and the
SERPasofDecember31,2015and2014wereasfollows(dollarsinthousands):
As of December 31,
2015 2014
Prepaid expenses and other assets $ 10,576 $ 12,259
Accounts payable and accrued expenses 10,576 12,259
16. Stock-Based Compensation
The Cash America International, Inc. 2014 Long-Term Incentive Plan (the “2014 LTIP”) became effective
on May 22, 2014 when it was approved by the shareholders of the Company, and the 2014 LTIP will terminate May
21, 2024, unless terminated earlier by the Board of Directors. The Company’s previous long-term incentive plan, the
Cash America International, Inc. First Amended and Restated 2004 Long-Term Incentive Plan, as amended,
terminated on April 21, 2014 in accordance with the provisions of that plan, and no new awards may be made under
that plan. Under the 2014 LTIP, the Company is authorized to issue up to 3,400,000 shares of its common stock, and
awards that may be granted under the 2014 LTIP include incentive stock options (intended to qualify under
Section422oftheInternalRevenueCodeof1986,asamended),nonqualifiedstockoptions,stockappreciation
rights, performance units, restricted stock, RSUs and other share-based or share-related awards or in connection
with Director Deferred Shares. AsofDecember31,2015,therewere2,677,126sharesavailableforfuturegrants
under the 2014 LTIP.
The Company has granted RSU awards to Company officers, certain employees and to non-management
members of the Board of Directors. Each vested RSU entitles the holder to receive a share of common stock of the
Company, except for certain RSUs that entitle the holder to receive a share of common stock of the Company and a
fractional share of Enova common stock, as described below. RSUs granted in 2015 were granted under the 2014
LTIP. RSU awards granted in 2015 to Company officers and certain employees vest over a four-year period, and
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
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