Redbox 2012 Annual Report Download

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Table of contents

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  • Page 6
    ...2012 (the last business day of the registrant's most recently completed second fiscal quarter), based upon the closing price as reported in the NASDAQ Global Select Market System, was approximately $2.1 billion. The number of shares outstanding of the registrant's Common Stock as of February 1, 2013...

  • Page 7
    ... and Issuer Purchases of Equity Securities ...Selected Financial Data ...Management's Discussion and Analysis of Financial Condition and Results of Operations ... 20 22 23 42 43 85 85 85 Item 7A. Quantitative and Qualitative Disclosures About Market Risk ...Item 8. Item 9. Financial Statements and...

  • Page 8
    ... with Verizon Ventures IV LLC ("Verizon") with respect to a joint venture, Redbox Instant™ by Verizon. We entered into an asset purchase agreement with NCR Corporation ("NCR") (the "NCR Agreement") to acquire NCR's self-service entertainment DVD kiosk business. 1 2009 • • 2010 2011 2012

  • Page 9
    ...and pick it up at the selected Redbox location. Tickets sold via our kiosks or online are offered at face value plus applicable sales taxes and a nominal per ticket fee (currently $1 per ticket). We generate revenue primarily through fees charged to rent or purchase a movie or video game, and we pay...

  • Page 10
    ... growth and external investment. Our New Ventures segment consists primarily of our coffee, refurbished electronics and photo self-service concepts. We generate revenue primarily through fees charged for products and services offered to consumers in select test markets where we are testing business...

  • Page 11
    ... arrangements with other studios that make DVDs available for rent 28 days or more after the street date. If we are unable to maintain or renew our current relationships to obtain movie or video game content on acceptable terms, our business, financial condition and results of operations may suffer...

  • Page 12
    ... business, financial condition and operating results. Our inability to receive delivery of DVDs on the date of their initial release to the general public, or shortly thereafter, for home entertainment viewing could adversely affect our Redbox business. Traditionally, businesses that rented movies...

  • Page 13
    ... of these new businesses could create conflicting priorities, constrain limited resources, and negatively impact our core businesses. We may use our financial resources and managements time and focus to invest in other companies offering automated retail services, such as our investment in ecoATM...

  • Page 14
    ... affect our operations and could damage our business, reputation, financial position and results of operations. As our business expands to provide new products and services, such as Redbox Instant by Verizon, Redbox Tickets, and Coin-to-Commerce, we are increasing the amount of consumer data that we...

  • Page 15
    ..., class action lawsuits, cease and desist orders and civil and criminal liability. The occurrence of one or more of these events, as well as the increased cost of compliance, could materially adversely affect our business, financial condition and results of operations. If we cannot manage our growth...

  • Page 16
    ... most effective plan for locating kiosks, or the optimum market density. Because the DVD kiosk market and our business model for Redbox is continually evolving, we have incomplete data and track records for predicting kiosk and market performance in future periods. As a result, we may make errors in...

  • Page 17
    ... closed; impairment of relationships with employees, retailers and affiliates of our business and the acquired business; • We have indebtedness, which may limit our ability to obtain future financings and may negatively impact our business, financial condition, results of operations and growth...

  • Page 18
    ... make cash payments of up to $1,000 for each $1,000 in principal amount of such Notes (as well as deliver shares of our common stock if applicable). For example, at June 30, 2012, our Notes became convertible in and for the third quarter of 2012 at the option of each holder because the closing sale...

  • Page 19
    ..., our operational and financial performance is a direct reflection of consumer use of and the ability to operate and service our kiosks used in our business. Severe weather, natural disasters and other events beyond our control can, for extended periods of time, significantly reduce consumer use of...

  • Page 20
    ... technologies when our related patents expire. For example, certain United States patent rights based on an early patent application primarily relating to our coin-counting business expired in September 2012 and a patent relating to Redbox's "Rent and Return Anywhere" feature expired in June 2010...

  • Page 21
    ...factors, an increase in service fees paid, or other financial concessions made, to our retailers could significantly increase our direct operating expenses in future periods and harm our business. In addition, we accept payment for DVD and game rentals through debit and credit card transactions. For...

  • Page 22
    ...our financial condition, operating results and liquidity, as well as our business generally. Our future operating results may fluctuate. Our future operating results will depend significantly on our ability to continue to drive new and repeat use of our Redbox and Coin kiosks, our ability to develop...

  • Page 23
    ..., however, may be minimized by the actual release slate and the relative attractiveness of movie titles in a particular quarter or year. Our Coin segment generally experiences its highest revenue in the second half of the year due to increased retailer foot traffic and holiday shopping in the fourth...

  • Page 24
    ...administrative, marketing and product development facility in Bellevue, Washington is located in three office buildings, totaling 118,712 square feet under three leases two of which expire December 31, 2019 and the third will expire December 31, 2017. Our Coin and New Ventures segments each use part...

  • Page 25
    ...under a lease that expires on July 31, 2021. Our Redbox and New Ventures segments each use part of this space. ITEM 3. LEGAL PROCEEDINGS In October 2009, an Illinois resident, Laurie Piechur, individually and on behalf of all others similarly situated, filed a putative class action complaint against...

  • Page 26
    ... behalf of all others similarly situated, filed a putative class action complaint against our Redbox subsidiary in the U.S. District Court for the Northern District of Illinois. The plaintiff alleges that Redbox retains personally identifiable information of consumers for a time period in excess of...

  • Page 27
    ... symbol "CSTR." The following table sets forth the high and low bid prices per share as reported by the NASDAQ Global Select Market for our common stock for each quarter during the last two fiscal years. The quotations represent inter-dealer prices without retail markup, markdown or commission and...

  • Page 28
    ... information regarding shares repurchased during the quarter ended December 31, 2012: Total Number of Shares Purchased as Part of Publicly Announced Repurchase Plans or Programs(2) Maximum Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs(4) Total Number...

  • Page 29
    ... and Analysis of Financial Condition and Results of Operations and the consolidated financial statements and notes thereto included elsewhere in this Form 10-K. (In thousands, except per share data) Statement of Net Income Data 2012 Year Ended December 31, 2011 2010 2009 2008 Revenue ...$2,202...

  • Page 30
    ...revenue for retailers. Our core offerings in automated retail include our Redbox segment where consumers can rent or purchase movies and video games and, in certain markets, purchase tickets from self-service kiosks; and our Coin segment where consumers can convert their coin to cash or stored value...

  • Page 31
    ... Notes to Consolidated Financial Statements for additional details. • • Comparing 2012 to 2011 Revenue increased $356.7 million, or 19.3%, primarily due to same store sales growth and new kiosk installations in our Redbox segment as well as new kiosk installations and an increased number of...

  • Page 32
    ... equity method investments. Comparing 2011 to 2010 Revenue increased $409.0 million, or 28.5%, primarily due to new kiosk installations and same store sales growth in our Redbox segment. Operating income increased $66.7 million, or 46.6% primarily due to our Redbox segment, where revenue growth was...

  • Page 33
    ... our shared service support function's allocation methods used for segment reporting purposes, which may result in changes to segment allocations in future periods. We also review same store sales which we calculate for our segments on a location basis. Most of our locations have a single kiosk, but...

  • Page 34
    ... been operating for more than 13 months by the end of the reporting period compared with the same locations in the same period of the prior year. Revenue Our Redbox segment generates revenue primarily through fees charged to rent or purchase a movie or video game, and we pay retailers a percentage...

  • Page 35
    ... 30, 2014 expiration. The amended agreement also gave us the option to license Blu-ray product. We view Blu-ray as an important growth opportunity because of the high video quality relative to other formats and the higher daily rental fee it provides; On June 22, 2012, we completed the NCR Asset...

  • Page 36
    ... of NCR kiosks; $157.7 million from same store sales growth of 10.2% due primarily to the increase in the standard definition daily rental fee in late October 2011, offset in part by fewer rentals in the third quarter due to a less favorable movie release schedule as the studios released fewer new...

  • Page 37
    ... direct operating expenses attributable to revenue growth, including higher than optimal DVD product costs related to purchases of December 2010 and January 2011 titles, as well as increased video game product costs in support of our national rollout in June 2011, increased revenue share and payment...

  • Page 38
    Coin Dollars in thousands, except kiosk counts and average transaction size Year Ended December 31, 2012 2011 2010 2012 vs. 2011 $ % 2011 vs. 2010 $ % Revenue ...Expenses: Direct operating ...Marketing ...Research and development ...General and administrative ...Litigation ...Segment operating ...

  • Page 39
    ... shared service support function for data center expansion and ERP system implementation costs, as well as higher depreciation from an increase in the number of kiosks deployed primarily due to the new Safeway relationship we entered in 2011. • • New Ventures Dollars in thousands Year Ended...

  • Page 40
    ... to test markets, increased shared services support costs related primarily to deployment of new kiosks and customer service related activity that were not allocated to this segment in 2011; offsetting the increases was a $0.7 million charge in the second quarter of 2011 for purchases of additional...

  • Page 41
    ...our Notes to Consolidated Financial Statements. Interest Expense Dollars in thousands Year Ended December 31, 2012 2011 2010 2012 vs. 2011 $ % 2011 vs. 2010 $ % Cash interest expense ...Non-cash interest expense ...Loss from early retirement of debt ...Interest income ...Total interest expense, net...

  • Page 42
    ...i) deal fees primarily related to the NCR Asset Acquisition, ii) income or loss from equity method investments, which represents our share of income or loss from entities we do not consolidate or control, and iii) a gain on the grant of a license to use certain Redbox trademarks to Redbox Instant by...

  • Page 43
    ..., the most comparable GAAP financial measure, is presented in the following table: Dollars in thousands Year Ended December 31, 2012 2011 2010 2012 vs. 2011 $ % 2011 vs. 2010 $ % Diluted EPS from continuing operations ...Non-core adjustments, net of tax:(1) Deal fees ...Loss from equity method...

  • Page 44
    ...use of our services, the timing and number of machine installations, the number of available installable kiosks, the type and scope of service enhancements and the cost of developing potential new product service offerings and enhancements and cash required to fund future acquisitions and investment...

  • Page 45
    ... stock option exercises and excess tax benefits on share-based payments. Cash and Cash Equivalents As of December 31, 2012, our cash and cash equivalent balance was $282.9 million, of which $91.8 million was identified for settling our payable to the retailer partners in relation to our Coin kiosks...

  • Page 46
    ... trading days prior to each quarter-end date. If the Notes become convertible and should the Note holders elect to convert, we will be required to pay them up to the full face value of the Notes in cash as well as deliver shares of our common stock for any excess conversion value. The number...

  • Page 47
    ...our financial statements. Content Library Our content library, which we called our DVD library in prior years, consists of movies and video games available for rent or purchase. We obtain our movie and video game content through revenue sharing agreements and license agreements with studios and game...

  • Page 48
    ... the fair value of our reporting units using both the income and market approaches. Our estimates of fair value can change significantly based on factors such as revenue growth rates, profit margins, discount rates, market conditions, market prices, and changes in business strategies. As the...

  • Page 49
    ..., is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. We do not believe our adoption of ASU 2012-02 in the first quarter of 2013 will have a material impact on our financial position, results of operations or cash flows. ITEM 7A...

  • Page 50
    ... Unaudited quarterly financial data for each of the eight quarters in the two-year period ended December 31, 2012 is as follows: 2012 (In thousands, except per share data) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Revenue ...Income from continuing operations before income taxes ...Income tax...

  • Page 51
    ... of comprehensive income, stockholders' equity, and cash flows for each of the years in the three-year period ended December 31, 2012, and our report dated February 8, 2013 expressed an unqualified opinion on those consolidated financial statements. /s/ KPMG LLP Seattle, Washington February...

  • Page 52
    ...financial statements referred to above present fairly, in all material respects, the financial position of Coinstar, Inc. and subsidiaries as of December 31, 2012 and 2011, and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 2012...

  • Page 53
    ... current liabilities ...Long-term debt and other long-term liabilities ...Capital lease obligations ...Deferred tax liabilities ...Total liabilities ...Commitments and contingencies (Note 19) ...Stockholders' Equity: Preferred stock, $0.001 par value-5,000,000 shares authorized; no shares issued...

  • Page 54
    COINSTAR, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in thousands, except per share data) 2012 Year Ended December 31, 2011 2010 Revenue ...Expenses: Direct operating(1) ...Marketing ...Research and development ...General and administrative ...Depreciation and other(1) ...Amortization of...

  • Page 55
    ... data) Common Stock Shares Amount Accumulated Other Retained Comprehensive Earnings Loss Treasury Stock Total BALANCE, December 31, 2009 ...31,076,784 $406,333 $ (40,831) $ 33,858 Proceeds from exercise of options, net ...1,324,756 31,686 - - Share-based payments expense ...485,582 16,234 - - Tax...

  • Page 56
    ... costs associated with credit facility ...Excess tax benefits related to share-based payments ...Repurchases of common stock and ASR program ...Proceeds from exercise of stock options ...Net cash flows from financing activities from continuing operations ...Effect of exchange rate changes on cash...

  • Page 57
    ...Repurchases of Common Stock ...Share-Based Payments ...Income Taxes ...Discontinued Operations and Sale of Business ...Earnings Per Share ...Other Comprehensive Income ...Business Segments and Enterprise-Wide Information ...Retirement Plans ...Derivative Instruments ...Fair Value ...Commitments and...

  • Page 58
    ... FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 NOTE 1: ORGANIZATION AND BUSINESS Description of Business We are a leading provider of automated retail solutions offering convenient products and services that benefit consumers and drive incremental retail traffic and revenue...

  • Page 59
    ...): Dollars in thousands Year Ended December 31, 2012 2011 2010 Amount expensed for uncollectible accounts ...Amount charged against the allowance ...Content Library $417 $- $455 $- $272 $- Our content library consists of movies and video games available for rent or purchase. We obtain our movie...

  • Page 60
    ... acquisitions. We used expectations of future cash flows to estimate the fair value of the acquired retailer relationships. We amortize our intangible assets on a straight-line basis over their expected useful lives. Goodwill Goodwill represents the excess purchase price of an acquired enterprise or...

  • Page 61
    ... of a consumer's rental transaction. Revenue from a direct sale out of the kiosk of previously rented movies or video games is recognized at the time of sale. On rental transactions for which the related movie or video game has not yet been returned to the kiosk at month-end, revenue is recognized...

  • Page 62
    ... kiosks is completed. Consumers either pay cash or use credit or debit cards when they purchase products or services from our New Venture segment. Our New Venture segment currently offers coffee, refurbished electronics, beauty samples, and photo services to our consumers. Fees Paid to Retailers...

  • Page 63
    ... information see Note 10: Share-Based Payments. Fair Value of Financial Instruments The carrying amounts for cash equivalents approximate fair value, which is the amount for which the instrument could be exchanged in a current transaction between willing parties. Our available-for-sale securities...

  • Page 64
    ... 31, 2012, and December 31, 2011, we have revised our 2009 year-end financial statements in the following tables: Dollars in thousands As Reported December 31, 2009 Adjustment As Revised Noncurrent deferred income tax assets ...Total assets ...Retained earnings ...Total equity ...Total liabilities...

  • Page 65
    ...-service entertainment DVD kiosk business are included in our Redbox segment results. The purchase price is preliminarily allocated based on the fair value of the assets acquired and liabilities assumed at the NCR Asset Acquisition date as follows: Dollars in thousands June 22, 2012 Assets acquired...

  • Page 66
    ... assets: Purchase Price Estimated Useful Life in Years Dollars in thousands Intangible assets: Retailer relationships ...Patents ...Trademark and trade name ...Internal use software ...Total ... $40,000 6,300 500 160 $46,960 10 8 1 1 The estimated weighted-average useful life of the acquired...

  • Page 67
    ... DVD kiosk business acquired from NCR as if the NCR Asset Acquisition was consummated as of January 1, 2011. There are no material non-recurring pro forma adjustments and the pro forma information may differ from actual results. Dollars in thousands Year Ended December 31, 2012 2011 Revenue...

  • Page 68
    ... of the LLC Agreement). Other Equity Method Investments We make strategic equity investments in external companies that provide automated self-service kiosk solutions. During the first quarter of 2012, we increased our ownership percentage in ecoATM, Inc. ("ecoATM") through the purchase of $10...

  • Page 69
    ... the fair value of our reporting units using both the income and market approaches. Our estimates of fair value can change significantly based on factors such as revenue growth rates, profit margins, discount rates, market conditions, market prices, and changes in business strategies. As the...

  • Page 70
    ... 1-40 years Year Ended December 31, 2012 2011 2010 Retailer relationships ...Other ...Total amortization of intangible assets ...Expected future amortization is as follows: Dollars in thousands $4,456 922 $5,378 $2,457 283 $2,740 $3,022 283 $3,305 Retailer Relationships Other 2013 ...2014...

  • Page 71
    ... loan in 2012 and 2011. The following is the term loan repayment schedule: Dollar in Thousand Repayment Amount Amount paid in 2011 and 2012 ...2013 ...2014 ...2015 ...2016 ...Total Term Loan ... $ 15,313 15,312 19,687 21,875 102,813 $175,000 Our obligations under the Credit Facility are secured by...

  • Page 72
    ... trading days prior to each quarter-end date. If the Notes become convertible and should the Note holders elect to convert, we will be required to pay them up to the full face value of the Notes in cash as well as deliver shares of our common stock for any excess conversion value. The number...

  • Page 73
    ...the right to purchase DVD rental kiosks to be located at selected McDonald's restaurant sites for which Redbox subsequently received proceeds. The proceeds under the Rollout Agreement are classified as debt and the interest rate is based on similar rates that Redbox has with its kiosk sale-leaseback...

  • Page 74
    ... shares Repurchased Average Price per Share Total Purchase Price Year Ended December 31, 2010 ...2011 ...2012 ...Total ... 1,072,037 1,374,036 2,799,115 5,245,188 $45.94 46.10 49.92 $ 49,245 63,349 139,724 $252,318 Repurchased shares become a part of treasury stock. The shares tendered for tax...

  • Page 75
    ...: Dollars in thousands except per share data Year Ended December 31, 2012 2011 2010 Share-based payments expense: Share-based compensation-stock options ...Share-based compensation-restricted stock ...Share-based payments for content arrangements ...Total share-based payments expense ...Tax benefit...

  • Page 76
    ... over three years from the date of grant. The restricted shares require no payment from the grantee. The fair value of the awards is based on the market price on the grant date and is recognized on a straight-line basis over the vesting period or based on achieving performance conditions. The...

  • Page 77
    ...the number of unvested shares and market price of our common stock each reporting period. During 2010 and 2009, we entered into agreements with SPHE Scan Based Trading Corporation ("Sony") and Paramount Home Entertainment, Inc. ("Paramount"). During the third quarters of 2011 and 2012, our agreement...

  • Page 78
    ...changes in the balance of unrecognized tax benefits were as follows: Dollars in thousands Year ended December 31, 2012 2011 2010 Balance, beginning of the year ...Additions based on tax positions related to the current year ...Additions for tax positions related to prior years ...Reductions for tax...

  • Page 79
    ... of Previously Issued Financial Statements section of Note 2: Summary of Significant Accounting Policies for more information. Dollars in thousands December 31, 2012 2011 Deferred tax assets: Income tax loss carryforwards ...Credit carryforwards ...Accrued liabilities and allowances ...Stock-based...

  • Page 80
    ...federal tax credits as well as the expiration periods: Dollars in thousands December 31, 2012 Amount Expiration U.S Federal tax credits: Foreign tax credits ...Research and development tax credits ...Other general business tax credits ...Alternative minimum tax credits ...Illinois state tax credits...

  • Page 81
    ... based on the discounted cash flows of the future note payments and was not an exit price based measure of fair value or the stated value on the face of the Sigue Note. The discount rate used in our fair value estimate was the market rate for similar risk profile companies and represented our best...

  • Page 82
    .... The following table sets forth the components of discontinued operations included in our Consolidated Statements of Comprehensive Income: Dollars in thousands Year Ended December 31, 2012 2011 2010 Revenue: Money Transfer Business ...E-Pay Business ...Total revenue ...Pre-tax gain (loss) from...

  • Page 83
    ... presented. The following table sets forth the computation of shares used for the basic and diluted EPS calculations: In thousands Year Ended December 31, 2012 2011 2010 Weighted average shares used for basic EPS ...Dilutive effect of stock options and other share-based awards ...Dilutive effect...

  • Page 84
    ... expenses relate to share-based compensation. In thousands Year Ended December 31, 2012 Redbox Coin New Ventures Corporate Unallocated Total Revenue ...Expenses: Direct operating ...Marketing ...Research and development ...General and administrative ...Segment operating income (loss) ...Less...

  • Page 85
    ...) $ 108,926 Our Redbox and Coin kiosks are primarily located within retailers. The following retailers accounted for 10% or more of our consolidated revenue from continuing operations: 2012 Year Ended December 31, 2011 2010 Walgreen Co...Wal-Mart Stores Inc...The Kroger Company ... 16.0% 16.0% 10...

  • Page 86
    ... interest rate swap agreement with Wells Fargo Bank to hedge against the variable-rate interest payments on our revolving credit facility expired on March 20, 2011. As of December 31, 2012, we had no interest rate swaps outstanding that were accounted for as cash flow hedges. The fair value of the...

  • Page 87
    ... fair value using the information available on the grant date, which consisted of the expected future discounted and tax-effected cash flows attributable to the projected gross revenue stream of the Joint Venture, estimated market royalty rates of approximately 1.5%, as well as a discount rate...

  • Page 88
    ... 31, 2012, our future minimum lease payments are as follows: Dollars in thousands $ 48,636 $ 46,173 (18,974) (19,257) $ 29,662 $ 26,916 Capital Leases Operating Leases (1) 2013 ...2014 ...2015 ...2016 ...2017 ...Thereafter ...Total minimum lease commitments ...Less: amounts representing interest...

  • Page 89
    ... will be fully utilized over the five year period by our purchases of goods and services from NCR at fair market value. Content License Agreements We have entered into certain license agreements to obtain content for movie and video game rentals. A summary of the estimated commitments in relation...

  • Page 90
    ... certain of its current and former directors and officers. Coinstar was named as a nominal defendant. On April 12, 2011, the court consolidated these actions as a single action entitled In re Coinstar, Inc. Derivative Litigation. A third substantially similar complaint was later filed in the same...

  • Page 91
    ... behalf of all others similarly situated, filed a putative class action complaint against our Redbox subsidiary in the U.S. District Court for the Northern District of Illinois. The plaintiff alleges that Redbox retains personally identifiable information of consumers for a time period in excess of...

  • Page 92
    ... management, including our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting as of December 31, 2012 as required by the Exchange Act Rule 13a-15(c). In making this assessment, we used the criteria set...

  • Page 93
    ... herein by reference to the Proxy Statement relating to our 2013 Annual Meeting of Stockholders. ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES The information required by this item is incorporated herein by reference to the Proxy Statement relating to our 2013 Annual Meeting of Stockholders. 86

  • Page 94
    ... 2.3 Limited Liability Company Agreement of Verizon and Redbox Digital Entertainment Services, LLC, dated as of February 3, 2012.(27) Asset Purchase Agreement by and among Redbox Automated Retail, LLC and NCR Corporation, dated as of February 3, 2012.(27) First Amendment to Asset Purchase Agreement...

  • Page 95
    ...Inc. and Paramount Home Entertainment Inc.(21) Restricted Stock Purchase Agreement, dated October 26, 2011, between Coinstar, Inc. and Paramount Home Entertainment Inc.(26) Amended and Restated 1997 Non-Employee Directors' Stock Option Program.(6) Executive Deferred Compensation Plan, as amended and...

  • Page 96
    ... Award and Form of Restricted Stock Award Agreement under the 1997 Amended and Restated Equity Incentive Plan for Performance-Based Awards to Executives other than the CEO, COO or CFO.(7) Amended and Restated Equity Grant Program for Nonemployee Directors under the Coinstar, Inc. 1997 Amended and...

  • Page 97
    ... Stock Award Agreement under the 2011 Incentive Plan for Performance-Based Awards to Executives other than the CEO, COO or CFO.(27) Offer Letter for Maria Stipp, dated June 1, 2011.(29) Change of Control Agreement between Coinstar, Inc. and Maria Stipp, dated June 27, 2011.(29) Offer Letter...

  • Page 98
    ...) Stock Purchase Agreement dated as of August 23, 2010, among CUHL Holdings, Inc., Coinstar E-Payment Services Inc., Coinstar, Inc., Coinstar UK Holdings Limited, and Sigue Corporation.(18) First Amendment to Stock Purchase Agreement dated as of May 31, 2011, by and between Coinstar, Inc., Coinstar...

  • Page 99
    ...2011 (File Number 000-22555). (26) Incorporated by reference to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2011 (File Number 000-22555). (27) Incorporated by reference to the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2012 (File Number...

  • Page 100
    ... by the undersigned thereunto duly authorized. COINSTAR, INC. By: /S/ J. SCOTT DI VALERIO J. Scott Di Valerio Chief Financial Officer February 8, 2013 Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the...

  • Page 101
    .... All values assume reinvestment of dividends and are plotted below as of December 31 of each fiscal year shown. The stock price performance shown in the graph is historical and not necessarily indicative of future price performance. COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN AMONG COINSTAR, INC...

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