SanDisk 2013 Annual Report Download - page 204

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
At December 29, 2013, the total unrecognized compensation cost related to stock options, net of
estimated forfeitures, was approximately $47.4 million, and this amount is expected to be recognized over a
weighted average period of approximately 2.2 years. As of December 29, 2013, the Company had fully
expensed all of its SARs awards.
Restricted Stock Units. RSUs are settled in shares of the Company’s common stock upon vesting on a
one-for-one basis. Typically, vesting of RSUs is subject to the employee’s continuing service to the
Company. The cost of these awards is determined using the fair value of the Company’s common stock on
the date of grant, and compensation is recognized on a straight-line basis over the requisite vesting period.
A summary of the changes in RSUs outstanding under the Company’s share-based compensation
plans during the three fiscal years ended December 29, 2013 is presented below (in thousands, except for
weighted average grant date fair value):
Weighted
Average Grant Aggregate
Shares Date Fair Value Intrinsic Value
Non-vested share units at January 2, 2011 ................ 1,244 $ 28.64 $ 62,007
Granted ................................... 1,335 47.56
Vested .................................... (396) 29.63 19,309
Forfeited ................................... (132) 37.24
Non-vested share units at January 1, 2012 ................ 2,051 40.22 100,913
Granted ................................... 1,840 45.04
Vested .................................... (646) 47.75 29,479
Forfeited ................................... (227) 42.85
Assumed through acquisition ..................... 59 46.63
Non-vested share units at December 30, 2012 ............. 3,077 43.51 131,622
Granted ................................... 2,665 53.99
Vested .................................... (950) 41.97 50,268
Forfeited ................................... (338) 46.93
Non-vested share units at December 29, 2013 ............. 4,454 49.87 221,457
At December 29, 2013, the total unrecognized compensation cost related to RSUs, net of estimated
forfeitures, was approximately $144.5 million, and this amount is expected to be recognized over a
weighted average period of approximately 2.6 years.
Employee Stock Purchase Plan. At December 29, 2013, the total unrecognized compensation cost related
to ESPP was approximately $0.9 million, and this amount is expected to be recognized over a period of one
month.
F-38