Computer Associates 2013 Annual Report Download - page 99

Download and view the complete annual report

Please find page 99 of the 2013 Computer Associates annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 114

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

of the awards is determined and fixed based on the market value of the Company’s stock on the grant date reduced by the
present value of dividends expected to be paid on the Company’s stock prior to vesting of the RSUs which is calculated
using a risk-free interest rate.
The following table summarizes the activity of RSAs under the Plans:
WEIGHTED
NUMBER AVERAGE
OF SHARES GRANT DATE
(in millions) FAIR VALUE
Outstanding at March 31, 2010 5.3 $ 20.73
RSA granted 4.7 21.41
RSA released (3.3) 22.00
RSA forfeitures (0.9) 20.72
Outstanding at March 31, 2011 5.8 $ 20.56
RSA granted 3.8 24.54
RSA released (3.0) 21.57
RSA forfeitures (0.9) 22.33
Outstanding at March 31, 2012 5.7 $ 22.41
RSA granted 3.5 26.21
RSA released (3.6) 22.22
RSA forfeitures (0.6) 24.69
Outstanding at March 31, 2013 5.0 $ 24.98
The following table summarizes the activity of RSUs under the Plans:
WEIGHTED
NUMBER AVERAGE
OF SHARES GRANT DATE
(in millions) FAIR VALUE
Outstanding at March 31, 2010 0.9 $ 20.51
RSU granted 0.6 21.30
RSU released (0.4) 23.47
RSU forfeitures (0.1) 19.05
Outstanding at March 31, 2011 1.0 $ 20.03
RSU granted 0.7 24.06
RSU released (0.3) 20.70
RSU forfeitures (0.2) 21.61
Outstanding at March 31, 2012 1.2 $ 21.91
RSU granted 0.9 23.72
RSU released (0.6) 21.03
RSU forfeitures (0.1) 23.38
Outstanding at March 31, 2013 1.4 $ 23.28
The total vesting date fair value of RSAs and RSUs released during fiscal years 2013, 2012 and 2011 was approximately
$92 million, $73 million and $82 million, respectively.
Performance Awards: The Company rewards certain senior executives with performance awards under its long-term incentive
plans. These Performance Share Units (PSUs) include 1-year and 3-year performance periods for senior executives and a
1-year performance period for members of the sales team. These PSUs are granted at the conclusion of the performance
period and after approval by the Compensation Committee.
83