Henry Schein 2014 Annual Report Download - page 109

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HENRY SCHEIN, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
(in thousands, except per share data)
95
Note 16 – Employee Benefit Plans – (Continued)
The total intrinsic value per share of restricted stock/units that vested was $119.36, $98.99 and $75.98 during
the years ended December 27, 2014, December 28, 2013 and December 29, 2012. The following table summarizes
the status of our non-vested restricted stock/units for the year ended December 27, 2014:
Time-Based Restricted Stock/Units
Weighted Average
Grant Date Fair Intrinsic Value
Shares/Units Value Per Share Per Share
Outstanding at beginning of period ........................................... 926 $ 70.70
Granted ...................................................................................... 177 119.32
Vested ........................................................................................ (229) 57.69
Forfeited .................................................................................... (38) 86.47
Outstanding at end of period ..................................................... 836 $ 83.86 $ 137.39
Performance-Based Restricted Stock/Units
Weighted Average
Grant Date Fair Intrinsic Value
Shares/Units Value Per Share Per Share
Outstanding at beginning of period ........................................... 1,078 $ 59.85
Granted ...................................................................................... 343 114.06
Vested ........................................................................................ (264) 69.89
Forfeited .................................................................................... (30) 90.77
Outstanding at end of period ..................................................... 1,127 $ 77.19 $ 137.39
401(k) Plans
We offer qualified 401(k) plans to substantially all our domestic full-time employees. As determined by our
Board of Directors, matching contributions to these plans generally do not exceed 100% of the participants’
contributions up to 7% of their base compensation, subject to applicable legal limits. Matching contributions
consist of cash and were allocated entirely to the participants’ investment elections on file, subject to a 20%
allocation limit to the Henry Schein Stock Fund. Forfeitures attributable to participants whose employment
terminates prior to becoming fully vested are used to reduce our matching contributions and offset administrative
expenses of the 401(k) plans.
Assets of the 401(k) and other defined contribution plans are held in self-directed accounts enabling
participants to choose from various investment fund options. Matching contributions and administrative expenses
related to these plans charged to operations during the years ended December 27, 2014, December 28, 2013 and
December 29, 2012 amounted to $28.6 million, $25.3 million and $23.8 million.
Supplemental Executive Retirement Plan
We offer an unfunded, non-qualified supplemental executive retirement plan to eligible employees. This plan
generally covers officers and certain highly-compensated employees after they have reached the maximum IRS
allowed pre-tax 401(k) contribution limit. Our contributions to this plan are equal to the 401(k) employee-elected
contribution percentage applied to base compensation for the portion of the year in which such employees are not
eligible to make pre-tax contributions to the 401(k) plan. The amounts charged to operations during the years
ended December 27, 2014, December 28, 2013 and December 29, 2012 amounted to $1.9 million, $4.1 million and
$2.1 million.