Comcast 2011 Annual Report Download - page 117

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We also maintain a deferred stock option plan for certain employees and directors that allowed the optionees
to defer the receipt of shares of Class A or Class A Special common stock that would otherwise be deliver-
able when the stock options are exercised. As of December 31, 2011, approximately 1.9 million shares of
Class A Special common stock were issuable under exercised options, the receipt of which was irrevocably
deferred by participants.
Restricted Stock Plan
We maintain a restricted stock plan under which certain employees and directors (each, a “participant”) may
be granted RSU awards in units of Class A common stock. Under the restricted stock plan, a combined total
of approximately 69 million shares of our Class A and Class A Special common stock are reserved for issu-
ance, including those RSU awards outstanding as of December 31, 2011. RSUs are valued based on the
closing price on the date of grant and discounted for the lack of dividends, if any, during the vesting period
and entitle participants to receive, at the time of vesting, one share of common stock for each RSU. The
awards vest annually, generally over a period not to exceed 5 years, and do not have voting or dividend rights
prior to vesting. The table below presents the weighted-average fair value on the date of grants of the RSUs.
2011 2010 2009
Weighted-average fair value at grant date $ 22.78 $ 16.94 $ 13.60
2011 Restricted Stock Plan Activity
Nonvested Restricted
Share Unit Awards
(in thousands)
Weighted-Average
Fair Value
at Grant Date
Class A Common Stock
Nonvested awards outstanding as of January 1, 2011 29,551 $ 16.94
Granted 10,847 $ 22.78
Vested (8,058) $ 18.16
Forfeited (2,455) $ 17.83
Nonvested awards outstanding as of December 31, 2011 29,885 $ 18.65
Vested Restricted Share Units
Year ended December 31 (in millions) 2011 2010 2009
Intrinsic value of RSUs vested $ 197 $99 $61
Tax benefit of RSUs vested $69 $36 $22
The restricted stock plan also allows certain employees and directors to defer the receipt of shares of Class A
or Class A Special common stock that would otherwise be deliverable when their RSUs vest. As of
December 31, 2011, approximately 1.6 million and 34,000 shares of Class A common stock and Class A
Special common stock, respectively, were issuable under vested RSU awards, the receipt of which was irrev-
ocably deferred by participants.
Employee Stock Purchase Plans
We maintain employee stock purchase plans that allow employees to purchase shares of our Class A com-
mon stock at a 15% discount. We recognize the fair value of the discount associated with shares purchased
under the plan as share-based compensation expense. In 2011, 2010 and 2009, the employee costs asso-
ciated with participation in the plans were satisfied with payroll deductions of approximately $58 million, $50
million and $48 million, respectively.
115 Comcast 2011 Annual Report on Form 10-K