NetZero 2011 Annual Report Download - page 140
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Table of Contents
UNITED ONLINE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
8. STOCKHOLDERS' EQUITY (Continued)
In January 2012, the Board of Directors declared a quarterly cash dividend of $0.10 per share of common stock. The record date for the
dividend is February 14, 2012 and the dividend will be paid on February 29, 2012.
The payment of future dividends is discretionary and is subject to determination by United Online, Inc.'s Board of Directors each quarter
following its review of the Company's financial performance and other factors. Dividends that are declared by the Board of Directors are
currently paid out of the Company's surplus, as defined and computed in accordance with the General Corporation Law of the State of Delaware.
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss was as follows (in thousands):
9. STOCK-BASED COMPENSATION PLANS
The Company has one active equity plan, the 2010 Incentive Compensation Plan (the "Plan"), under which, in general, the Company is
authorized to grant restricted stock units, stock awards and stock options.
Restricted stock units granted to employees generally vest over a one- to four-year period under a variety of vesting schedules and are
canceled upon termination of employment. Restricted stock units granted to non-employee members of United Online, Inc.'s Board of Directors
generally vest annually over a one-year period.
Stock options granted to employees generally vest over a three- or four-year period under a variety of vesting schedules and are canceled
upon termination of employment. Stock option grants expire after ten years unless canceled earlier due to termination of employment.
Upon the exercise of a stock option award, the vesting of a restricted stock unit or the award of common stock or restricted stock, shares of
common stock are issued from authorized but unissued shares. Pursuant to the Plan, each restricted stock unit and stock award granted decreases
shares
F-32
Change in gains on
derivative instruments, net
of tax
Foreign Currency
Translation Accumulated Other
Comprehensive Loss
Balance at
January 1, 2009
$
$
(47,019
)
$
(47,019
)
Current period
change
—
20,056
20,056
Balance at
December 31,
2009
—
(
26,963
)
(26,963
)
Current period
change
—
(
6,665
)
(6,665
)
Balance at
December 31,
2010
—
(
33,628
)
(33,628
)
Current period
change
11
(1,776
)
(1,765
)
Balance at
December 31,
2011
$
11
$
(35,404
)
$
(35,393
)