Cricket Wireless 2010 Annual Report Download - page 134

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A summary of the Company’s restricted stock award activity as of and for the years ended December 31, 2010
and 2009 is as follows (in thousands, except per share data):
Number of
Shares
Weighted-
Average
Grant Date
Fair Value
Per Share
Restricted stock awards outstanding at December 31, 2008 ............. 1,377 48.60
Shares issued ............................................. 627 27.76
Shares forfeited ........................................... (98) 43.46
Shares vested ............................................. (175) 50.33
Restricted stock awards outstanding at December 31, 2009 ............. 1,731 $41.17
Shares issued ............................................. 982 15.27
Shares forfeited ........................................... (201) 38.90
Shares vested ............................................. (394) 45.69
Restricted stock awards outstanding at December 31, 2010 ............. 2,118 $28.54
The following table summarizes information about restricted stock awards that vested during the years ended
December 31, 2010, 2009 and 2008 (in thousands):
2010 2009 2008
Year Ended December 31,
Fair value on vesting date of vested restricted stock awards ........ $4,965 $3,912 $24,104
At December 31, 2010, total unrecognized compensation cost related to unvested restricted stock awards was
$31.5 million, which is expected to be recognized over a weighted-average period of 2.4 years.
The terms of the restricted stock grant agreements allow the Company to repurchase unvested shares at the
option, but not the obligation, of the Company for a period of sixty days, commencing ninety days after the
employee has a termination event. If the Company elects to repurchase all or any portion of the unvested shares, it
may do so at the original purchase price per share.
Employee Stock Purchase Plan
The Company’s Employee Stock Purchase Plan (the “ESP Plan”) allows eligible employees to purchase shares
of common stock during a specified offering period. The purchase price is 85% of the lower of the fair market value
of such stock on the first or last day of the offering period. Employees may authorize the Company to withhold up to
15% of their compensation during any offering period for the purchase of shares under the ESP Plan, subject to
certain limitations. A total of 800,000 shares of common stock were reserved for issuance under the ESP Plan, and a
total of 368,147 shares remained available for issuance under the ESP Plan as of December 31, 2010. The most
recent offering period under the ESP Plan was from July 1, 2010 through December 31, 2010.
128
LEAP WIRELESS INTERNATIONAL, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)