Plantronics 2011 Annual Report Download - page 78

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The total intrinsic values of stock options exercised during fiscal years 2011, 2010 and 2009 were $26.2 million, $9.0 million and
$2.0 million, respectively. The total cash received from employees as a result of employee stock option exercises during fiscal
2011 was $50.1 million.
Restricted Stock
The following is a summary of the Company’s restricted stock award activity during fiscal 2011:
Non-vested at March 31, 2010
Granted
Vested
Forfeited
Non-vested at March 31, 2011
Number of
Shares
(in thousands)
361
491
(137)
(27)
688
Weighted Average
Grant Date Fair Value
$ 21.41
$ 33.54
$ 22.14
$ 27.72
$ 29.52
The weighted average grant-date fair value of restricted stock awards is based on the quoted market price of the Company's common
stock on the date of grant. The weighted average grant-date fair values of restricted stock awards granted during fiscal years 2011,
2010 and 2009 were $33.54, $24.62 and $14.50, respectively. The total grant-date fair values of restricted stock awards that vested
during fiscal years 2011, 2010 and 2009 were $3.1 million, $3.1 million and $2.5 million, respectively.
Stock-Based Compensation
The following table summarizes the amount of stock-based compensation expense included in the consolidated statements of
operations, including both continuing and discontinued operations for the periods presented:
(in thousands)
Cost of revenues
Research, development and engineering
Selling, general and administrative
Stock-based compensation expense included in operating expenses
Total stock-based compensation
Income tax benefit
Total stock-based compensation expense, net of tax
Fiscal Year Ended March 31,
2011
$ 2,202
3,765
9,906
13,671
15,873
(4,892)
$ 10,981
2010
$ 1,929
3,505
9,443
12,948
14,877
(4,746)
$ 10,131
2009
$ 2,265
3,663
9,814
13,477
15,742
(4,940)
$ 10,802
There was no stock-based compensation included in discontinued operations for the year ended March 31, 2011. For the years
ended March 31, 2010 and 2009, stock-based compensation presented in the table above includes amounts recorded in discontinued
operations of $1.2 million and $1.0 million, respectively. Of the $1.2 million in fiscal 2010, $0.3 million related to stock option
modification charges as a result of the sale of the AEG segment and was included in the costs incurred upon closing of the sale.
As of March 31, 2011, the total unrecognized compensation cost related to unvested stock options was $9.4 million which is
expected to be recognized over a weighted average period of 1.7 years, and the total unrecognized compensation cost related to
non-vested restricted stock awards was $13.5 million which is expected to be recognized over a weighted average period of 2.8
years.
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