SkyWest Airlines 2015 Annual Report Download - page 87

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83
The following table summarizes the status of the Company’s non-vested stock options as of December 31,
2015:
Weighted-Average
Number of
Grant-Date
Shares
Fair Value
N
on-vested shares at beginning of year ............... 563,738 $ 4.56
Granted ......................................... 267,433 4.92
Vested ......................................... (187,403) 4.43
Cancelled ....................................... (64,086) 4.65
N
on-vested shares at end of year .................... 579,682 $ 4.75
The following table summarizes information about the Company’s stock options outstanding at December 31,
2015:
Options Outstanding
Options Exercisable
Weighted Average
Number
Remaining Weighted Average
Number
Weighted Average
Range of Exercise Prices
Outstanding
Contractual Life Exercise Price
Exercisable
Exercise Price
$8 to $11 19,458 5.4 years $ 11.10 — $ —
$12 to $14 859,595 4.1 years 13.31 305,331 13.90
$15 to $18 185,376 1.4 years 15.43 179,416 15.64
$8 to $18 1,064,429 3.7 years $ 13.64 484,747 $ 14.46
Taxes
The Company’s treatment of stock option grants of non- qualified options, restricted stock units and
performance shares results in the creation of a deferred tax asset, which is a temporary difference, until the time that the
option is exercised or the restrictions lapse.
(10) Retirement Plans and Employee Stock Purchase Plans
SkyWest Retirement Plan
The Company sponsors the SkyWest, Inc. Employees’ Retirement Plan (the “SkyWest Plan”). Employees who
have completed 90 days of service and are at least 18 years of age are eligible for participation in the SkyWest Plan.
Employees may elect to make contributions to the SkyWest Plan. Generally, the Company matches 100% of such
contributions up to 2%, 4% or 6% of the individual participant’s compensation, based upon length of service for non-
pilot employees and up to 3%, 5% or 7% of the individual participant’s compensation, based upon length of service for
pilot employees. Additionally, a discretionary contribution may be made by the Company. The Company’s combined
contributions to the SkyWest Plan were $20.4 million, $19.3 million and $18.3 million for the years ended December 31,
2015, 2014 and 2013, respectively.
ExpressJet and Atlantic Southeast Retirement Plans
ExpressJet (formerly Atlantic Southeast) sponsors the Atlantic Southeast Airlines, Inc. Investment Savings Plan
(the “Atlantic Southeast Plan”). Employees who have completed 90 days of service and are 18 years of age are eligible
for participation in the Atlantic Southeast Plan. Employees may elect to make contributions to the Atlantic Southeast
Plan; however, ExpressJet limits the amount of company match at 6% of each participant’s total compensation, except
for those with ten or more years of service whose company match is limited to 8% of total compensation. Additionally,
ExpressJet matches the individual participant’s contributions from 20% to 75%, depending on the length of the
participant’s service. Additionally, participants are 100% vested in their elective deferrals and rollover amounts and from
10% to 100% vested in company matching contributions based on length of service.