MetLife 2011 Annual Report Download - page 223

MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
financial strength and credit ratings, general market conditions and the market price of MetLife, Inc.’s common stock compared to management’s
assessment of the stock’s underlying value and applicable regulatory approvals, as well as other legal and accounting factors.
Dividends
The table below presents declaration, record and payment dates, as well as per share and aggregate dividend amounts, for the common stock:
Dividend
Declaration Date Record Date Payment Date Per Share Aggregate
(In millions, except per
share data)
October 25, 2011 November 9, 2011 December 14, 2011 $0.74 $787
October 26, 2010 November 9, 2010 December 14, 2010 $0.74 $784(1)
October 29, 2009 November 9, 2009 December 14, 2009 $0.74 $610
(1) Includes dividends on convertible preferred stock (see “— Convertible Preferred Stock” above).
Stock-Based Compensation Plans
Description of Plans for Employees and Agents — General Terms
The MetLife, Inc. 2000 Stock Incentive Plan, as amended (the “2000 Stock Plan”) authorized the granting of awards to employees and agents in the
form of options to buy shares of MetLife, Inc. common stock (“Stock Options”) that either qualify as incentive Stock Options under Section 422A of the
Code or are non-qualified. By December 31, 2009 all awards under the 2000 Stock Plan had either vested or been forfeited. No awards have been
made under the 2000 Stock Plan since 2005.
Under the MetLife, Inc. 2005 Stock and Incentive Compensation Plan (the “2005 Stock Plan”), awards granted to employees and agents may be in
the form of Stock Options, Stock Appreciation Rights, Restricted Stock or Restricted Stock Units, Performance Shares or Performance Share Units,
Cash-Based Awards and Stock-Based Awards (each as defined in the 2005 Stock Plan with reference to MetLife, Inc. common stock).
The aggregate number of shares authorized for issuance under the 2005 Stock Plan is 68,000,000, plus those shares available but not utilized
under the 2000 Stock Plan and those shares utilized under the 2000 Stock Plan that are recovered due to forfeiture of Stock Options. Each share
issued under the 2005 Stock Plan in connection with a Stock Option or Stock Appreciation Right reduces the number of shares remaining for issuance
under that plan by one, and each share issued under the 2005 Stock Plan in connection with awards other than Stock Options or Stock Appreciation
Rights reduces the number of shares remaining for issuance under that plan by 1.179 shares. At December 31, 2011, the aggregate number of shares
remaining available for issuance pursuant to the 2005 Stock Plan was 31,803,801. Stock Option exercises and other awards settled in shares are
satisfied through the issuance of shares held in treasury by the Company or by the issuance of new shares.
Compensation expense related to awards under the 2005 Stock Plan is recognized based on the number of awards expected to vest, which
represents the awards granted less expected forfeitures over the life of the award, as estimated at the date of grant. Unless a material deviation from the
assumed forfeiture rate is observed during the term in which the awards are expensed, any adjustment necessary to reflect differences in actual
experience is recognized in the period the award becomes payable or exercisable.
Compensation expense related to awards under the 2005 Stock Plan is principally related to the issuance of Stock Options, Performance Shares
and Restricted Stock Units. The majority of the awards granted each year under the 2005 Stock Plan are made in the first quarter of each year.
Certain stock-based awards provide solely for cash settlement based on changes in the price of MetLife, Inc. common stock and other factors
(“Phantom Stock-Based Awards”). Such awards are made under the MetLife, Inc. International Unit Option Incentive Plan, the MetLife International
Performance Unit Incentive Plan, and the MetLife International Restricted Unit Incentive Plan.
Description of Plans for Directors — General Terms
The MetLife, Inc. 2000 Directors Stock Plan, as amended (the “2000 Directors Stock Plan”) authorized the granting of awards in the form of MetLife,
Inc. common stock, non-qualified Stock Options, or a combination of the foregoing to non-management Directors of MetLife, Inc. As of December 31,
2009, all awards under the 2000 Directors Stock Plan had either vested or been forfeited. No awards have been made under the 2000 Directors Stock
Plan since 2004.
Under the MetLife, Inc. 2005 Non-Management Director Stock Compensation Plan (the “2005 Directors Stock Plan”), awards granted may be in the
form of non-qualified Stock Options, Stock Appreciation Rights, Restricted Stock or Restricted Stock Units, or Stock-Based Awards (each as defined in
the 2005 Directors Stock Plan with reference to MetLife, Inc. common stock) to non-management Directors of MetLife, Inc. The number of shares
authorized for issuance under the 2005 Directors Stock Plan is 2,000,000. There were no shares carried forward from the 2000 Directors Stock Plan to
the 2005 Directors Stock Plan. At December 31, 2011, the aggregate number of shares remaining available for issuance pursuant to the 2005 Directors
Stock Plan was 1,777,288. Stock Option exercises and other awards settled in shares are satisfied through the issuance of shares held in treasury by
the Company or by the issuance of new shares.
Compensation expense related to awards under the 2005 Directors Plan is recognized based on the number of shares awarded. The Stock-Based
Awards granted under the 2005 Directors Plan have vested immediately. The majority of the awards granted each year under the 2005 Directors Stock
Plan are made in the second quarter of each year.
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