GameStop 2014 Annual Report Download - page 106

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was $3.6 million of unrecognized compensation expense related to the unvested portion of our stock options that is expected to
be recognized over aweighted-average period of 1.8 years.
Restricted Stock Awards
We grant restricted stock awards to certain of our employees, officers and non-employee directors. Restricted stock awards
generally vest over athree-year period on the anniversary of the date of issuance, subject to continued service to the Company
and, in some cases, subject to the attainment of certain performance measures.
The following table presents asummary of ourrestricted stock awards activity during the 52 weeks ended January 31, 2015:
Shares
(Millions)
Weighted-
Average
Grant Date
Fair Value
Nonvested shares at February 1, 2014 ........................................................................ 2.3$ 24.10
Granted ..................................................................................................................... 0.638.61
Vested........................................................................................................................ (0.6) 23.55
Forfeited.................................................................................................................... (0.1) 29.37
Nonvested shares at January 31, 2015 ........................................................................ 2.2$ 28.14
Of the shares granted during fiscal 2014, 434 thousand shares of restricted stock were granted under the 2011Incentive Plan,
which vest in equal annual installments over three years. At the same time, an additional 182 thousand shares of restricted stock
were granted under the 2011Incentive Plan, of which 91 thousand shares vest in equal annual installments over three years based
on performance targets measured at the end of fiscal 2014. The remaining 91 thousand shares of restricted stock granted are subject
to performance targets which will be measured following the completion of the 52 weeks ending January 28, 2017. These grants
will vest immediately upon measurement to the extent earned. Shares subject to performance measures may generally be earned
in greater or lesser percentages if targets are exceeded or not achieved by specified amounts.
During the 52 weeks ended February 1, 2014, we granted 1.2 million shares of restricted stock with aweighted-average grant
date fair value of $24.82 per common share with fair value being determined by the quoted market price of our common stock on
the date of grant. Of these shares, 916 thousand shares of restricted stock were granted under the 2011Incentive Plan, which vest
in equal annual installments over three years. At the same time, an additional 262 thousand shares of restricted stock were granted
under the 2011Incentive Plan, of which 131 thousand shares are subject to performance targets which will be measured following
the completion of the 52 weeks ending January 30, 2016. The remaining 131 thousand shares vest in equal annual installments
over three years based on performance targets that were achieved based on fiscal 2013 performance. This award achieved 102.5%
of the target amount, which resulted in the incremental awarding of an additional 3thousandsharesthatvestinequal annual
installments over three years.
During the 52 weeks ended January 31, 2015, the 52 weeks ended February 1, 2014 and the 53 weeks ended February 2, 2013,
we included compensation expense relating to the grants of restricted shares in the amounts of $19.4 million, $18.4 million and
$17.5 million, respectively,inselling, general and administrative expenses in the accompanying consolidated statements of
operations. As of January 31, 2015, there was $24.7 million of unrecognized compensation expense related to nonvested restricted
shares that is expected to be recognized over aweighted-average period of 1.7 years.
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
F-29
15. Employees’ Defined ContributionPlan
We sponsor adefined contribution plan (the “Savings Plan”) for the benefit of substantially all of our U.S. employees who
meet certain eligibility requirements, primarily age and length of service. The Savings Plan allows employees to invest up to 60%,
for amaximum of $17.5 thousand ayearfor 2014,oftheireligible gross cash compensation invested on apre-tax basis. Our
optional contributions to the Savings Plan are generally in amounts based upon acertain percentage of the employees’ contributions.
Our contributions to the Savings Plan during the 52 weeks ended January 31, 2015, the 52 weeks ended February 1, 2014 and the
53 weeks ended February 2, 2013, were $5.2 million, $4.8 million and $4.6 million, respectively.