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SPECTRUM BRANDS HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(Amounts in thousands, except per share figures)
(t) Stock Compensation
The Company measures the cost of its stock-based compensation plans, which include restricted stock awards
and restricted stock units, based on the fair value of the awards at the date of grant and recognizes these costs
over the requisite service period of the awards.
In June 2010, SB Holdings adopted the Spectrum Brands Holdings, Inc. 2007 Omnibus Equity Award Plan
(formerly known as the Russell Hobbs Inc. 2007 Omnibus Equity Award Plan, as amended on June 24, 2008)
(the “RH Plan”). Prior to October 21, 2010, up to 600 shares of common stock, net of forfeitures and
cancellations, could have been issued under the RH Plan. After October 21, 2010, no further awards may be
made under the RH Plan.
On October 21, 2010, the Board adopted the Spectrum Brands Holdings, Inc. 2011 Omnibus Equity Award
Plan (the “2011 Plan”), which was approved at the Annual Meeting of Stockholders on March 1, 2011. During
Fiscal 2014, the 2011 Plan was amended to increase the shares issuable by 1,000. Including the amendment to the
2011 Plan, up to 5,626 shares of common stock of SB Holdings, net of cancellations, may be issued under the
2011 Plan.
Total stock compensation expense associated with restricted stock units recognized by the Company during
Fiscal 2014, Fiscal 2013 and Fiscal 2012, was $46,809, $43,861 and $29,164, respectively. The amounts before
tax are included in General and administrative expenses in the accompanying Consolidated Statements of
Operations. The remaining unrecognized pre-tax compensation cost related to restricted stock units at
September 30, 2014 was $11,815.
The Company granted approximately 669 restricted stock units during Fiscal 2014. The 669 restricted stock
units granted during Fiscal 2014 include 203 restricted stock units that vested immediately and 143 restricted
stock units that vest over a one year period. The remaining 323 restricted stock units are performance-based and
vest over a two year period. The total market value of the restricted stock units on the date of the grant was
approximately $50,507.
The Company granted approximately 700 restricted stock units during Fiscal 2013. Of these grants, 48
restricted stock units are time-based and vest over a period of one year. Of the remaining 652 restricted stock
units, 90 are performance-based and vest over a one year period and 562 are both performance and time-based
and vest over a one year performance-based period followed by a one year time-based period. The total market
value of the restricted stock units on the date of the grant was approximately $32,176.
The Company granted approximately 863 restricted stock units during Fiscal 2012. Of these grants, 160
restricted stock units are time-based and vest over a period ranging from one to two years. The remaining 703
restricted stock units are both performance and time-based and vest over a one year performance-based period
followed by a one year time-based period. The total market value of the restricted stock units on the date of the
grant was approximately $24,408.
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