Comfort Inn 2013 Annual Report Download - page 103
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Table of Contents
PVRSU grants totaling 39,070 units were forfeited since the Company did not achieve the minimum performance conditions contained in the stock awards
and 4,109 were terminated related to employee terminations.
A summary of stock-based award activity as of December 31, 2013, 2012 and 2011 and the changes during the years are presented below:
Outstanding at January 1, 2013
Granted
Performance-Based Leveraging* —
—
—
$ —
Exercised/Vested
Expired
—
$ —
—
$ —
Forfeited
Outstanding at December 31, 2013
Options exercisable at
December 31, 2013
_________________
* PVRSU units outstanding have been increased by 9,192 units due to the Company exceeding the targeted performance conditions contained in PVRSU's
granted in prior periods during the year ended December 31, 2013.
Outstanding at January 1, 2012 1,573,726
$33.30
565,627
$34.43
109,769
$35.57
Granted 160,408
$ 35.60
266,159
$35.76
117,523
$ 35.27
Special Dividend Adjustment 497,497
$ 25.31
—
$ —
—
$ —
Exercised/Vested (266,754)
$26.57
(198,415)
$33.75
—
$ —
Forfeited (30,843)
$36.97
(26,824)
$ 36.06
(57,176)
$34.98
Outstanding at December 31, 2012 1,934,034
$ 25.80
4.0 years
606,547
$ 35.17
170,116
$35.56
Options exercisable at
December 31, 2012 1,302,624
$25.62
3.1 years
(1) The weighted average exercise price for options outstanding and exercisable reflect the reduction of the option price for outstanding options as described under "Special
Dividend Adjustment". The weighted average exercise price for options granted, exercised or forfeited reflects the option price in effect at the time of the transaction.
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