Delta Airlines 2007 Annual Report Download - page 118

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Table of Contents
Index to Financial Statements
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Equity-Based Compensation
Successor
Upon emergence from Chapter 11, we adopted with Bankruptcy Court approval new compensation programs, the Non-contract Program and the
Management Program. The Non-contract Program included the grant of unrestricted common stock to our approximately 39,000 non-contract, non-
management employees. The Management Program covers our approximately 1,200 officers, director level employees and management personnel. Under the
Management Program, officers received restricted stock, stock options and performance shares; director level employees received restricted stock and stock
options; and management personnel received restricted stock. All of these awards were made under the Delta Air Lines, Inc. 2007 Performance Compensation
Plan (the "2007 Plan") described below.
The following table shows the total compensation cost related to the 2007 Plan during the eight months ended December 31, 2007:
(in millions)
Compensation
Cost
Restricted Stock $ 90
Stock options 11
Performance shares 8
Total $ 109
As of December 31, 2007, approximately $117 million of total unrecognized costs related to unvested shares and options are expected to be recognized
over the remaining weighted-average period of 1.5 years. Approximately $69 million is expected to be recognized in 2008.
Up to 30 million shares of common stock are available for issuance under the 2007 Plan. Shares of common stock issued under the 2007 Plan may be
made available from authorized but unissued common stock or common stock we acquire. If any shares of our common stock are covered by an award under
the 2007 Plan that is cancelled, forfeited or otherwise terminates without delivery of shares (including shares surrendered or withheld for payment of the
exercise price of an award or taxes related to an award), then such shares will again be available for issuance under the 2007 Plan.
The following table shows the equity transactions under the 2007 Plan during the eight months ended December 31, 2007:
Shares
(000)
Authorized under the 2007 Plan 30,000
Awarded(1) (27,583)
Forfeited 99
Returned to Treasury 6,221
Available for Future Grants 8,737
(1) Awards include unrestricted common stock, restricted stock, stock options and performance shares.
Stock Grants. Under the Plan of Reorganization, approximately 14 million shares of common stock were issued as a part of the Non-contract Program.
Employees may hold or sell these shares without restriction.
F-58