Starwood 2008 Annual Report Download - page 46
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the payment of this consideration directly to the holders of the Class B Shares. In order to preserve the value of
the Company’s restricted stock and options immediately before and after the Host Transaction, the Company
increased the number of shares of restricted stock and adjusted its stock options to reduce the strike price and
increase the number of stock options using the intrinsic value method based on the Company’s stock price
immediately before and after the transaction. The stock and option information above reflects the number of
shares and options granted and the option exercise prices after these adjustments were made.
(2) These options generally vest in equal installments on the first, second, third and fourth anniversary of their
grant.
(3) These shares of restricted stock or restricted stock units granted prior to 2007 generally vest upon the third
anniversary of their grant date. For awards granted in 2007, the restricted stock or restricted stock units
generally vest 50% on each of the third and fourth anniversaries of their grant date. For awards granted in 2008,
the restricted stock or restricted stock units generally vest 75% on the third anniversary and 25% on the fourth
anniversary of the date of grant, provided that Mr. Avril’s September 2, 2008 award and Mr. McAveety’s
April 1, 2008 award will vest on the third anniversary of the grant date.
(4) These deferred restricted stock units vest in equal installments on the first, second and third fiscal year-ends
following the date of grant, subject to acceleration in the event certain performance criteria are met.
(5) These shares of restricted stock generally vest in equal installments on the first and second anniversary of their
grant.
VII. OPTION EXERCISES AND STOCK VESTED
The following table discloses, for each Named Executive Officer, (i) shares of Company stock acquired
pursuant to exercise of stock options during 2008, (ii) shares of restricted Company stock that vested in 2008, and
(iii) shares of Company stock acquired in 2008 on account of vesting of restricted stock units. The table also
discloses the value realized by the Named Executive Officer for each such event, calculated prior to the deduction of
any applicable withholding taxes and brokerage commissions.
Name
Number of
Shares
Acquired Upon
Exercise
(#)
Value Realized
on Exercise
($)
Number of Shares
Acquired Upon
Vesting
(#)
Value Realized
on Vesting
($)
Option Awards
Stock Awards
van Paasschen .............. — — — —
Prabhu .................... — — 31,409 1,436,540
Siegel ..................... — — 34,055 1,555,801
Avril ...................... 13,686 254,356 65,626 3,291,009
McAveety .................. — — — —
Turner .................... — — — —
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