Hertz 2014 Annual Report Download - page 157

Table of Contents




 




Expected volatility 39.3%

N/A

81.5%
Expected dividend yield —%

N/A

—%
Expected term (years) 3

N/A

3
Risk-free interest rate 0.96%

N/A

0.40%
Weighted-average grant date fair value $ 7.14

N/A

$ 14.62
A summary of option activity under the Stock Incentive Plan and the Omnibus Plan as of December 31, 2014 is presented below.
 














Outstanding at January 1, 2014 9,997,360

$ 11.55

4.5

$ 170
Granted 500,000

22.75

—

—
Exercised (1,392,048)

11.03

—

—
Forfeited or Expired (209,791)

14.42

—

—
Outstanding at December 31, 2014 8,895,521

12.62

3.6

106
Exercisable at December 31, 2014 8,206,279

11.21

3.4

102
A summary of non-vested options as of December 31, 2014, and changes during the year, is presented below.












Non-vested as of January 1, 2014 1,472,012

$ 12.60

$ 5.13
Granted 500,000

22.75

7.14
Vested (1,045,847)

11.84

4.83
Forfeited (236,923)

13.77

5.98
Non-vested as of December 31, 2014 689,242

$ 20.51

$ 6.81
Additional information pertaining to option activity under the plans is as follows:



 




Aggregate intrinsic value of stock options exercised $ 24

$ 42

$ 15
Cash received from the exercise of stock options 18

27

11
Fair value of options that vested 5

6

9
Tax benefit realized on exercise of stock options 1

1

1

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. Each of the units granted under the Omnibus Plan
represent the right to receive one share of the Company's 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
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Source: HERTZ GLOBAL HOLDINGS INC, 10-K, July 16, 2015 Powered by Morningstar® Document Research℠
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