Starwood 2009 Annual Report Download - page 48

Name
(listed alphabetically following
the Chief Executive Officer)
Grant
Date
Number of
Securities
Underlying
Unexercised
Options-
Exercisable
(#)(1)(2)
Number of
Securities
Underlying
Unexercised
Options
Unexercisable
(#)(1)(2)
Option
Exercise
Price
($)(1)
Option
Expiration
Date
Number of
Shares or
Units of Stock
That Have Not
Vested (#)
Market value
of Shares
or Units of
Stock That
Have Not
Vested
($)
Option awards Stock awards
Siegel . . . . . . . . . . . . . . . 2/18/2004 30,550 0 31.71 2/18/2012
2/10/2005 45,824 0 48.39 2/10/2013
2/07/2006 42,264 21,132 48.80 2/07/2014
2/28/2007 17,270 17,268 65.15 2/28/2015
2/28/2008 7,716 23,145 48.61 2/28/2016
2/27/2009 0 417,216 11.39 2/27/2017
2/28/2007 34,538(3) 1,263,055
2/28/2008 30,861(3) 1,128,587
3/03/2008 1,824(4) 66,704
3/02/2009 11,627(4) 425,199
Turner . . . . . . . . . . . . . . 5/07/2008 33,806 101,418 53.25 5/07/2016
2/27/2009 0 548,968 11.39 2/27/2017
3/02/2009 8,656(4) 316,550
(1) In connection with the sale of 33 hotels to Host Hotels & Resorts, Inc., or Host, Starwood’s stockholders
received 0.6122 Host shares and $0.503 in cash for each of their Class B Shares. Holders of Starwood employee
stock options and restricted stock did not receive this consideration while the market price of Shares was
reduced to reflect the payment of this consideration directly to the holders of the Class B Shares. In order to
preserve the value of the Company’s options immediately before and after the Host transaction, the Company
adjusted its stock options to reduce the strike price and increase the number of stock options using the intrinsic
value method based on the Share price immediately before and after the transaction. The option information
above reflects the number of 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) 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 will vest on the third anniversary of the grant date. For
awards granted in 2009, the restricted stock or restricted stock units generally vest 100% on the third
anniversary of their grant.
(4) These deferred restricted stock units vest in equal installments on the first, second and third fiscal year-ends
following the date of grant, and vested units are distributed on the earlier of (i) the third fiscal year-end or (ii) a
termination of employment.
(5) These shares of restricted stock generally vest in equal installments on the first and second anniversary of their
grant.
VIII. OPTION EXERCISES AND STOCK VESTED
The following table discloses, for each Named Executive Officer, (i) Shares acquired pursuant to exercise of
stock options during 2009, (ii) shares of restricted Company stock that vested in 2009, and (iii) Shares acquired in
2009 on account of vesting of restricted stock units. The table also discloses the value realized by the Named
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