Comfort Inn 2011 Annual Report Download - page 92
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Table of Contents
Outstanding at January 1, 2010 1,658,844
$30.05
539,341
$ 31.68
118,385
$34.58
Granted 261,137
$32.84
279,157
$33.07
33,517
$32.60
Exercised/Vested (123,109)
$19.96
(184,571)
$33.71
(10,880)
$ 40.65
Forfeited/Expired (64,198)
$23.53
(41,796)
$30.31
(13,110)
$35.70
Outstanding at December 31, 2010 1,732,674
$31.43
4.4 years
592,131
$31.81
127,912
$33.43
Options exercisable at
December 31, 2010 792,499
$31.73
3.5 years
Outstanding at January 1, 2009 1,950,783
$24.03
482,236
$34.93
129,481
$37.00
Granted 537,006
$27.02
262,128
$ 27.28
9,588
$26.88
Exercised/Vested (764,612)
$11.98
(161,615)
$34.48
(19,761)
$48.72
Performance-Based Leveraging* —
$ —
—
$ —
5,123
$48.72
Forfeited/Expired (64,333)
$37.13
(43,408)
$30.79
(6,046)
$39.95
Outstanding at December 31,
2009 1,658,844
$30.05
5.4 years
539,341
$ 31.68
118,385
$34.58
Options exercisable at
December 31, 2009 576,577
$27.67
4.4 years
____________________________
* PVRSU grants outstanding at January 1, 2009 have been increased by 5,123 units due to the Company exceeding the targeted performance conditions
contained in PVRSUs granted in prior periods during the year ended December 31, 2009.
The components of the Company’s pretax stock-based compensation expense and associated income tax benefits are as follows for the years ended
December 31:
Stock options
$2.4
$ 2.8
Restricted stock
6.8
6.4
Performance vested restricted stock units
(0.3)
(0.2)
Total
$8.9
$ 9.0
Income tax benefits
$3.3
$3.4
During 2011 and 2010, the Company revised its estimate of the projected achievement of various performance conditions that affect the number of
PVRSUs that will ultimately vest. As a result, previously recognized stock-based compensation costs related to these PVRSUs has been increased by $0.1
million during the year ended December 31, 2011 and reduced by $0.8 million and $0.9 million during the years ended December 31, 2010 and 2009,
respectively.
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