Ingram Micro 2013 Annual Report Download - page 66
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Table of Contents
INGRAM MICRO INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
(In 000s, except per share data)
Activity related to restricted stock and restricted stock units was as follows for the three years ended December 28, 2013:
Number of
Shares
Weighted-
Average
Grant Date
Fair Value
Non-vested at January 1, 2011 5,110
$10.84
Granted 1,961
19.37
Vested (1,145)
9.92
Forfeited (1,006)
18.02
Non-vested at December 31, 2011 4,920
12.98
Granted 2,866
17.21
Vested (2,132)
12.79
Forfeited (147)
17.66
Non-vested at December 29, 2012 5,507
15.13
Granted 4,071
19.26
Vested (2,101)
18.34
Forfeited (447)
17.74
Non-vested at December 28, 2013 7,030
16.39
As of December 28, 2013, the unrecognized stock-based compensation cost related to non-vested restricted stock and restricted stock units was
$57,513. We expect this cost to be recognized over a remaining weighted-average period of approximately 1.5 years.
Note 13 — Employee Benefit Plans
Our U.S.-based employee benefit plans permit eligible employees to make contributions up to certain limits, which are matched by us at stipulated
percentages. Our contributions charged to expense were $4,891, $4,350 and $3,859 in 2013, 2012 and 2011, respectively.
Note 14 — Common Stock
In October 2010, our Board of Directors authorized a $400,000 share repurchase program that has been extended to October 27, 2015, of which
$124,095 was remaining for repurchase at December 28, 2013. Under the program, we may repurchase shares in the open market and through privately
negotiated transactions. Our repurchases are funded with available borrowing capacity and cash. The timing and amount of specific repurchase transactions
will depend upon market conditions, corporate considerations and applicable legal and regulatory requirements. Treasury shares are recorded at cost and are
included as a component of stockholders’ equity in our consolidated balance sheet. We have issued shares of common stock out of our cumulative balance of
treasury shares. Such shares are issued to certain of our associates upon the exercise of their options or vesting of their equity awards under the Ingram Micro
Inc. 2011 Incentive Plan, as amended (see Note 12). We did not repurchase shares during the year ended December 28, 2013.
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