Graco 2010 Annual Report Download - page 78

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Newell Rubbermaid Inc. 2010 Annual Report
>
74 NEWELL RUBBERMAID 2010 Annual Report
The following table summarizes the changes in the number of shares of restricted stock, restricted stock units and
performance-based restricted stock units for the following periods (shares in millions):
Weighted-
Average Grant
Shares Date Fair Value
Outstanding at December 31, 2007 2.6 $26
Granted 1.4 20
Vested (0.4) 23
Forfeited (0.4) 26
Outstanding at December 31, 2008 3.2 $24
Granted 2.8 8
Vested (0.9) 24
Forfeited (0.5) 22
Outstanding at December 31, 2009 4.6 $15
Granted 2.2 14
Vested (1.1) 24
Forfeited (0.5) 13
Outstanding at December 31, 2010 5.2 $13
Expected to vest at December 31, 2010 4.9 $13
During the years ended December 31, 2010 and 2009, the Company awarded approximately 0.9 million and 1.2 million
performance-based restricted stock units, respectively, which entitle recipients to shares of the Company’s common stock at
the end of a three-year vesting period if specified market conditions are achieved. The performance-based restricted stock units
entitle recipients to shares of common stock equal to 0% to 200% of the number of units granted at the vesting date depending
on the level of achievement of the specified conditions. As of December 31, 2010, 1.8 million performance-based restricted stock
units were outstanding, and based on performance through December 31, 2010, recipients of performance-based restricted
stock units would be entitled to 2.7 million shares at the vesting date of the awards. The performance-based restricted stock
units are included in the preceding table as if the participants earned shares equal to 100% of the units granted.
The following table summarizes the Company’s total unrecognized compensation cost related to stock-based compensation
as of December 31, 2010 (in millions):
Weighted-Average
Unrecognized Period of
Compensation Expense Recognition
Cost (in years)
Stock options $13.9 1
Restricted stock and time-based and performance-based restricted stock units 29.4 1
Total $43.3