Dollar General 2015 Annual Report Download - page 146
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10-K
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
10. Share-based payments (Continued)
The weighted average grant date fair value per share of performance share units granted was
$74.72, $57.91 and $48.11 during 2015, 2014, and 2013, respectively.
A summary of restricted stock unit award activity during the year ended January 29, 2016 is as
follows:
Units Intrinsic
(Intrinsic value amounts reflected in thousands) Issued Value
Balance, January 30, 2015 ............................ 714,858
Granted ......................................... 383,134
Converted to common stock .......................... (326,383)
Canceled ........................................ (130,699)
Balance, January 29, 2016 ............................ 640,910 $48,107
The weighted average grant date fair value per share of restricted stock units granted was $74.67,
$57.87 and $48.20 during 2015, 2014 and 2013, respectively.
At January 29, 2016, 173,091 MSA Time Options were outstanding, all of which were exercisable,
with an average exercise price of $20.36, an average remaining contractual term of 3.8 years, and an
aggregate intrinsic value of $9.5 million. The intrinsic value of MSA Time Options exercised during
2015, 2014 and 2013 was $6.6 million, $6.8 million and $39.4 million, respectively.
At January 29, 2016, 151,097 MSA Performance Options were outstanding, all of which were
exercisable, with an average exercise price of $21.23, an average remaining contractual term of
3.9 years, and an aggregate intrinsic value of $8.1 million. The intrinsic value of MSA Performance
Options exercised during 2015, 2014 and 2013 was $4.9 million, $4.9 million and $39.1 million,
respectively.
In March 2012, the Company issued a performance-based award of 326,037 shares of restricted
stock to its former Chairman and Chief Executive Officer. The restricted stock award had a fair value
on the grant date of $45.25 per share, with the award scheduled to vest in one-half increments
contingent upon, among other things, meeting certain specified earnings per share targets for 2014 and
2015. The target for 2014 was met and the applicable shares vested. Certain conditions relating to the
2015 tranche of the award were not satisfied and therefore the applicable shares did not vest.
At January 29, 2016, the total unrecognized compensation cost related to nonvested stock-based
awards was $48.2 million with an expected weighted average expense recognition period of 1.7 years.
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