DIRECTV 2010 Annual Report Download - page 112

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DIRECTV
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
Per Share cancelled without the delivery of shares of common stock or otherwise result in the
Income Shares Amounts return of such shares to us will be authorized for grant subject to the approval of
(Dollars and Shares in Millions, the Compensation Committee of our Board of Directors.
Except Per Share Amounts)
Year Ended December 31, 2008: Under both the DIRECTV Plan and the LEI Plan, we issue new shares of our
DIRECTV Group Common Stock: Class A common stock when restricted stock units are earned and when stock
Basic EPS
Income from continuing operations attributable to DIRECTV . $1,515 1,110 $ 1.36 options are exercised.
Effect of Dilutive Securities
Dilutive effect of stock options and restricted stock units ..... — 4 — Restricted Stock Units
Diluted EPS The Compensation Committee has granted restricted stock units under our
Adjusted income from continuing operations attributable to
DIRECTV .............................. $1,515 1,114 $ 1.36 stock plans to certain of our employees and executives. Annual awards are mostly
performance-based, vest over three years and provide for final payments in shares of
our Class A common stock. Final payment can be reduced or increased from the
Note 15: Share-Based Payment target award amounts based on our company’s performance over a three year
As a result of the Liberty Transaction completed on November 19, 2009, performance period in comparison with pre-established targets. We determine the
DIRECTV assumed share based payment awards granted under plans of both the fair value of restricted stock units based on the closing stock price of our Class A
DIRECTV Group and LEI. See Note 3 for additional information regarding the common shares on the date of grant.
Liberty Transaction. Changes in the status of outstanding restricted stock units were as follows:
Under The DIRECTV Group, Inc. Amended and Restated 2004 Stock Plan,
Weighted-Average
or the DIRECTV Plan, as approved by DIRECTV Group stockholders on June 5, Grant-Date
2007, shares, rights or options to acquire up to 21 million shares of common stock Stock Units Fair Value
plus the number of shares that were granted under a former plan but which, after Nonvested at January 1, 2010 ............... 7,464,713 $22.80
December 22, 2003 are forfeited, expire or are cancelled without the delivery of Granted ............................. 3,515,837 30.83
shares of common stock or otherwise result in the return of such shares to us, were Vested and Distributed .................... (2,444,155) 24.21
authorized for grant through June 4, 2017, subject to the approval of the Forfeited ............................. (318,836) 24.93
Compensation Committee of our Board of Directors. Nonvested at December 31, 2010 ............ 8,217,559 25.74
As part of the Liberty Transaction on November 19, 2009, we assumed the
Liberty Entertainment Transitional Stock Plan, or the LEI Plan. Under the LEI The weighted average grant-date fair value of restricted stock units granted
Plan, we assumed 16.7 million stock options and stock appreciation rights, or during the year ended December 31, 2009 was $21.57. The weighted average
SARs, and issued 1.1 million shares of Class A common stock to holders of grant-date fair value of restricted stock units granted during the year ended
restricted stock units issued under the LEI Plan. We are authorized to issue shares, December 31, 2008 was $23.19.
rights or options to acquire up to 21 million shares of common stock under the
LEI Plan. Equity instruments from the LEI Plan that are forfeited, expire or are
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