Crucial 2012 Annual Report Download - page 79
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78
Restricted Stock and Restricted Stock Units ("Restricted Stock Awards")
As of August 30, 2012, there were 9.4 million shares of Restricted Stock Awards outstanding, of which 2.2 million were
performance-based Restricted Stock Awards. For service-based Restricted Stock Awards, restrictions generally lapse in one-
fourth increments during each year of employment after the grant date. For performance-based Restricted Stock Awards,
vesting is contingent upon meeting certain performance goals. Restricted Stock Awards activity for 2012 is summarized as
follows:
Number of
Shares
Weighted-
Average Grant
Date Fair
Value Per
Share
Outstanding at September 1, 2011 8.8 $ 8.17
Granted 5.8 5.43
Restrictions lapsed (4.7) 7.47
Cancelled (0.5) 7.26
Outstanding at August 30, 2012 9.4 6.87
Expected to vest after August 30, 2012 8.1 $ 6.75
Restricted Stock Awards granted for 2012, 2011 and 2010 were as follows:
For the year ended 2012 2011 2010
Service-based awards 3.9 4.4 5.9
Performance-based awards 1.9 1.2 1.8
Weighted-average grant-date fair values per share $ 5.43 $ 8.72 $ 8.29
Restricted Stock Awards granted during 2010 included 4.1 million of service-based and 0.7 million of performance-based
Restricted Stock Awards as part of our acquisition of Numonyx. The aggregate fair value at the lapse date of awards for which
restrictions lapsed during 2012, 2011 and 2010 was $32 million, $43 million and $65 million, respectively.
Stock-based Compensation Expense
For the year ended 2012 2011 2010
Stock-based compensation expense by caption:
Cost of goods sold $ 23 $ 20 $ 23
Selling, general and administrative 47 38 50
Research and development 17 17 18
Other operating (income) expense — 1 2
$ 87 $ 76 $ 93
Stock-based compensation expense by type of award:
Stock options $ 57 $ 44 $ 37
Restricted stock awards 30 32 56
$ 87 $ 76 $ 93
Selling, general and administrative expense for 2012 included $13 million from the vesting of restricted stock and stock
options in connection with the death of our former Chief Executive Officer.