Hertz 2013 Annual Report Download - page 119
Download and view the complete annual report
Please find page 119 of the 2013 Hertz annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
 |
 |
Table of Contents
A summary of non-vested options as of December 31, 2013, and changes during the year, is presented below.
Non-vested as of January 1, 2013 2.9
$12.23
$4.98
Granted —
—
—
Vested (1.3)
11.69
4.77
Forfeited (0.1)
12.1
5.42
Non-vested as of December 31, 2013 1.5
$12.60
5.13
Additional information pertaining to option activity under the plans is as follows (in millions of dollars):
Aggregate intrinsic value of stock options exercised $42.0
$15.1
$15.0
Cash received from the exercise of stock options 26.9
11.2
13.1
Fair value of options that vested 6.0
9.0
17.4
Tax benefit realized on exercise of stock options 1.3
0.9
0.5
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 Committee of the Board of Directors of Hertz Holdings. Each
of the units granted under the Omnibus Plan represent the right to receive one share of Hertz Holdings' 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 of the Board of Directors of Hertz
Holdings.
A summary of the PSU activity under the Omnibus Plan as of December 31, 2013 is presented below.
Outstanding at January 1, 2013 2.3
$12.18
$37.4
Granted 1.7
19.95
Vested (0.4)
10.40
Forfeited or Expired (0.3)
15.24
Outstanding at December 31, 2013 3.3
$15.68
$95.8
115
Source: HERTZ CORP, 10-K, March 31, 2014 Powered by Morningstar® Document Research℠
The information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. The user assumes all risks for any damages or losses arising from any use of this information,
except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.