Priceline 2010 Annual Report Download - page 166

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92
be determined upon completion of the performance period, assuming there is no accelerated vesting for, among
other things, a termination of employment under certain circumstances, or a change in control.
2010 Performance Share Units
During the year ended December 31, 2010, stock-based awards included grants of 110,430 performance
share units with a grant date fair value of $26.0 million, based on a weighted average grant date fair value of
$235.34 per share. The actual number of shares will be determined upon completion of the performance period
which ends December 31, 2012.
At December 31, 2010, there were 108,702 unvested performance share units outstanding, net of actual
forfeitures and vesting. During the year ended December 31, 2010, the number of shares estimated as probable to be
issued at the end of the performance period increased by 154,177 shares.
As of December 31, 2010, the number of shares estimated to be issued at the end of the performance period
is a total of 262,879 shares. If the maximum performance thresholds are met at the end of the performance period, a
maximum number of 268,611 total shares could be issued.
2008 Performance Share Units
During the year ended December 31, 2008, stock-based awards included grants of 183,067 performance
share units at a weighted average grant date fair value of $114.11 per share. The actual number of shares will be
determined in 2011, upon completion of the service period, and based on the performance period which ended
December 31, 2010.
At December 31, 2010, 2009 and 2008, there were 162,147, 167,259 and 176,459 unvested performance
share units outstanding, net of actual forfeitures and vesting, respectively. During the years ended December 31,
2010, 2009 and 2008, the number of shares estimated as probable to be issued at the end of the performance period
increased by 100,651 shares, decreased by 57,586 shares and increased by 120,027 shares, respectively.
The number of shares estimated to be issued at the end of the service period is 302,441 shares.
2007 Performance Share Units
During the year ended December 31, 2007, stock-based awards included grants of 276,100 performance
share units at a weighted average grant date fair value of $97.63 per share. During the twelve months ended
December 31, 2010, 81,250 performance share units vested resulting in the issuance of 168,000 shares of common
stock. The actual number of shares to be issued for the remaining performance share units granted will be
determined in 2011, upon completion of the service period, and based on the performance period which ended
December 31, 2010.
As of December 31, 2010, 2009 and 2008, there were 155,332 shares, 238,582 shares, and 240,082 shares
of unvested performance share units outstanding, net of actual forfeitures and vesting, respectively. During the
years ended December 31, 2010, 2009 and 2008, the number of shares estimated as probable to be issued at the end
of the performance period increased by 5,994 shares, 1,332 shares and 91,310 shares, respectively.
The number of shares estimated to be issued at the end of the service period is 470,658 shares.
Other Stock-based Payments
In 2010, the Company granted 5,555 RSUs with a total grant date fair value of $1.6 million to an
advertising partner. Expense is amortized over the service period and is charged to offline advertising expense.