Hertz 2012 Annual Report Download - page 160

HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
A summary of option activity under the Stock Incentive Plan and the Omnibus Plan as of December 31,
2012 is presented below.
Weighted-
Weighted- Average
Average Remaining Aggregate Intrinsic
Exercise Contractual Value (In thousands
Options Shares Price Term (years) of dollars)
Outstanding at January 1, 2012 ........ 15,142,061 $10.60 6.3 $41,110
Granted ......................... 35,492 0.17
Exercised ........................ (1,740,447) 5.75
Forfeited or Expired ................. (248,431) 14.66
Outstanding at December 31, 2012 ...... 13,188,675 11.13 5.4 $74,681
Exercisable at December 31, 2012 ...... 10,321,945 10.83 4.7 $63,086
A summary of non-vested options as of December 31, 2012, and changes during the year, is presented
below.
Weighted-
Weighted- Average Grant-
Non-vested Average Date Fair
Shares Exercise Price Value
Non-vested as of January 1, 2012 ................. 4,915,825 $12.04 $4.86
Granted .................................... 35,492 0.17 0.17
Vested ..................................... (1,959,032) 11.56 4.59
Forfeited ................................... (125,555) 11.91 4.84
Non-vested as of December 31, 2012 .............. 2,866,730 $12.23 4.98
Additional information pertaining to option activity under the plans is as follows (in millions of dollars):
Years ended
December 31,
2012 2011 2010
Aggregate intrinsic value of stock options exercised .................. $15.1 $15.0 $ 8.1
Cash received from the exercise of stock options .................... 11.2 13.1 7.9
Fair value of options that vested ................................ 9.0 17.4 21.6
Tax benefit realized on exercise of stock options .................... 0.9 0.5 0.3
Performance Stock, Performance Stock Units, Restricted Stock and Restricted Stock Units
Performance stock, PSUs and performance units granted under the Omnibus Plan will vest based on the
achievement of pre-determined performance goals over performance periods determined by the
Compensation, Nominating and Governance Committee. Each of the units granted under the Omnibus
Plan represent the right to receive one share of our common stock on a specified future date. In the event
of an employee’s death or disability, a pro rata portion of the employee’s performance stock,
performance stock units and performance units will vest to the extent performance goals are achieved at
the end of the performance period. Restricted Stock and RSUs granted under the Omnibus Plan will vest
based on a minimum period of service or the occurrence of events (such as a change in control, as
defined in the Omnibus Plan) specified by the Compensation, Nominating and Governance Committee.
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