Comfort Inn 2014 Annual Report Download - page 101
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Table of Contents
During the year ended December 31, 2014 and 2013, PVRSU grants totaling 22,099 units and 3,334 units, respectively, were forfeited due to
termination of employment. During the year ended December 31, 2012, PVRSU grants totaling 57,176 units were terminated in accordance with an amended
and restated employment agreement of an executive officer.
A summary of stock-based award activity as of December 31, 2014, 2013 and 2012 and the changes during the years are presented below:
Outstanding at January 1, 2014
Granted
Performance-Based Leveraging* —
—
—
$ —
Exercised/Vested
Expired
—
$ —
—
$ —
Forfeited
Outstanding at December 31, 2014
Options exercisable at
December 31, 2014
* PVRSU units outstanding have been increased by 10,251 units during the year ended December 31, 2014, due to the Company exceeding the targeted
performance conditions contained in PVRSU's granted in prior periods.
Outstanding at January 1, 2013 1,934,034
$ 25.80
606,547
$ 35.17
170,116
$ 35.56
Granted 173,413
$ 36.76
225,240
$ 37.74
80,184
$ 39.48
Performance-Based Leveraging* —
—
—
—
9,192
$ 32.60
Exercised/Vested (347,180)
$ 25.54
(227,890)
$ 33.94
(39,816)
$ 32.60
Expired (75,473)
$ 36.99
—
—
—
—
Forfeited (22,842)
$ 28.94
(40,552)
$ 35.85
(3,334)
$ 41.25
Outstanding at December 31,
2013 1,661,952
$ 26.44
3.0 years
563,345
$ 36.64
216,342
$ 37.34
Options exercisable at
December 31, 2013 1,181,374
$ 24.61
2.2 years
* PVRSU units outstanding have been increased by 9,192 units during the year ended December 31, 2013, due to the Company exceeding the targeted
performance conditions contained in PVRSU's granted in prior periods.
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