GameStop 2010 Annual Report Download - page 98

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Table of Contents
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
amount of $12.2 million, $11.5 million and $15.4 million, respectively, in selling, general and administrative expenses. As of January 29, 2011, the
unrecognized compensation expense related to the unvested portion of the Company's stock options was $9.3 million, which is expected to be
recognized over a weighted average period of 1.7 years.
Restricted Stock Awards
The Company grants restricted stock awards to certain of its employees, officers and non-employee directors. Restricted stock awards
generally vest over a three-year period on the anniversary of the date of issuance.
The following table presents a summary of the Company's restricted stock awards activity:
Weighted-
Average
Grant Date
Shares Fair Value
(Millions of shares)
Nonvested shares at February 2, 2008 1.3 $ 25.46
Granted 0.6 $ 49.20
Vested (0.6) $ 16.57
Forfeited — $ 29.53
Nonvested shares at January 31, 2009 1.3 $ 35.89
Granted 0.6 $ 25.82
Vested (0.6) $ 31.91
Forfeited — $ 33.78
Nonvested shares at January 30, 2010 1.3 $ 32.94
Granted 0.7 $ 20.43
Vested (0.6) $ 33.05
Forfeited (0.2) $ 23.07
Nonvested shares at January 29, 2011 1.2 $ 26.27
The restricted stock granted in the 52 weeks ended January 29, 2011, January 30, 2010 and January 31, 2009 vest in equal annual installments
over three years.
During the 52 weeks ended January 29, 2011, January 30, 2010 and January 31, 2009, the Company included compensation expense relating
to the grant of these restricted shares in the amounts of $17.4 million, $26.3 million and $19.9 million, respectively, in selling, general and
administrative expenses in the accompanying consolidated statements of operations. As of January 29, 2011, there was $14.8 million of
unrecognized compensation expense related to nonvested restricted stock awards that is expected to be recognized over a weighted average period of
1.7 years.
Subsequent to the fiscal year ended January 29, 2011, an additional 287 thousand shares of restricted stock were granted under the Incentive
Plan, which vest in equal annual installments over three years. Also subsequent to the fiscal year ended January 29, 2011, an additional 161 thousand
shares of restricted stock were granted under the Incentive Plan, of which 50% vest in equal annual installments over three years and 50% are
subject to performance targets with such targets to be measured following the completion of the 52 weeks ending January 28, 2012. Shares subject to
performance measures may be earned in greater or lesser percentages if targets are exceeded or not achieved by specified amounts. Any shares
earned will be vested in equal annual installments over three years. F-28