ManpowerGroup 2012 Annual Report Download - page 66

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RESTRICTED STOCK
We grant restricted stock and restricted stock unit awards to certain employees and to non-employee directors who may
elect to receive restricted stock rather than deferred stock as described above. Restrictions lapse over periods ranging up
to six years, and in some cases upon retirement. We value restricted stock awards at the closing market value of our
common stock on the date of grant.
A summary of restricted stock activity is as follows:
Shares (000) Wtd. Avg.
Price Per Share
Wtd. Avg.
Remaining
Contractual
Term (years)
Aggregate
Intrinsic Value
(in millions)
Unvested, January 1, 2010 369 $43 1.6
Granted 21 56
Vested (86) 41
Forfeited (9) 31
Unvested, December 31, 2010 295 $45 0.9
Granted 264 $67
Vested (143) 46
Forfeited (7) 52
Unvested, December 31, 2011 409 $59 1.8
Granted 309 $44
Vested (124) 40
Forfeited (5) 67
Unvested, December 31, 2012 589 $55 1.7 $25
During 2012, 2011 and 2010, we recognized $10.0, $7.0 and $4.4, respectively, of expense related to restricted stock
awards. As of December 31, 2012, there was approximately $14.0 of total unrecognized compensation cost related to
unvested restricted stock, which we expect to recognize over a weighted-average period of approximately 1.9 years.
PERFORMANCE SHARE UNITS
Our 2003 Plan and our 2011 Plan allow us to grant performance share units. We grant performance share units with a
performance period ranging from one to three years. Vesting of units occurs at the end of the performance period or after
a subsequent holding period, except in the case of termination of employment where the units are forfeited immediately.
Upon retirement, a prorated number of units vest depending on the period worked from the grant date to retirement date.
In the case of death or disability, the units immediately vest at the Target Award level if the death or disability date is during
the performance period, or at the level determined by the performance criteria met during the performance period if the
death or disability occurs during the subsequent holding period. The units are settled in shares of our common stock. A
payout multiple is applied to the units awarded based on the performance criteria determined by the Executive Compensation
and Human Resources Committee of the Board of Directors at the time of grant.
In the event the performance criteria exceed the target performance level, an additional number of shares, up to the
Outstanding Award level, may be granted. In the event the performance criteria falls below the target performance level, a
reduced number of shares, as low as the Threshold Award level, may be granted. If the performance criteria falls below the
threshold performance level, no shares will be granted.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
in millions, except share and per share data
64 ManpowerGroup 2012 Annual Report Notes to Consolidated Financial Statements