Macy's 2012 Annual Report Download - page 86

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
F-39
Compensation expense is recorded for all restricted stock and restricted stock unit awards based on the amortization of
the fair market value at the date of grant over the period the restrictions lapse or over the performance period of the
performance-based restricted stock units.
Activity related to restricted stock awards for 2012 is as follows:
Shares
Weighted
Average
Grant Date
Fair Value
(thousands)
Nonvested, beginning of period ...................................................................................... 213.6 $ 22.23
Granted ............................................................................................................................ — —
Forfeited .......................................................................................................................... (10.8) 21.46
Vested.............................................................................................................................. (60.5) 22.07
Nonvested, end of period................................................................................................. 142.3 $ 22.36
Activity related to restricted stock units for 2012 is as follows:
Shares
Weighted
Average
Grant Date
Fair Value
(thousands)
Nonvested, beginning of period ...................................................................................... 4,806.3 $ 12.47
Granted – performance-based.......................................................................................... 398.7 39.68
Performance adjustment.................................................................................................. — —
Granted – time-based....................................................................................................... 287.3 39.31
Dividend equivalents....................................................................................................... 54.4 38.46
Forfeited .......................................................................................................................... (55.7) 25.15
Vested.............................................................................................................................. (2,642.5) 4.52
Nonvested, end of period................................................................................................. 2,848.5 $ 26.61
12. Shareholders’ Equity
The authorized shares of the Company consist of 125 million shares of preferred stock (“Preferred Stock”), par value of
$.01 per share, with no shares issued, and 1,000 million shares of Common Stock, par value of $.01 per share, with 444.6
million shares of Common Stock issued and 387.7 million shares of Common Stock outstanding at February 2, 2013, and with
487.3 million shares of Common Stock issued and 414.2 million shares of Common Stock outstanding at January 28, 2012
(with shares held in the Company’s treasury being treated as issued, but not outstanding).
The Company retired 42.7 million and 7.7 million shares of Common Stock during 2012 and 2011, respectively.