Starwood 2010 Annual Report Download - page 51

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 . . . . . . . . . . . . . . . 2/28/2007 34,538 — 65.15 2/28/2015
2/28/2008 21,219 9,642 48.61 2/28/2016
2/27/2009 — 234,684 11.39 2/27/2017
2/26/2010 5,825 25,233 38.24 2/26/2018
2/28/2008 9,642(3) 586,041
3/02/2009 5,813(4) 353,314
2/26/2010 27,952(3) 1,698,923
3/01/2010 2,992(4) 181,854
Turner . . . . . . . . . . . . . . 5/07/2008 — 67,612 53.25 5/07/2016
2/27/2009 — 411,726 11.39 2/27/2017
2/26/2010 — 127,501 38.24 2/26/2018
3/02/2009 4,328(4) 263,056
2/26/2010 17,000(3) 1,033,260
3/01/2010 3,041(4) 184,832
(1) In connection with the sale of 33 hotels to Host Hotels & Resorts, Inc. (or “Host”), Company stockholders
received 0.6122 Host shares and $0.503 in cash for each of their Class B Shares. Holders of Company 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
provided reflects the number of options granted and the option exercise prices after these adjustments were
made. As of December 31, 2010, this impacts Mr. Prabhu’s holdings only.
(2) These options generally vest in equal installments on the first, second, third and fourth anniversary of their
grant. As of September 4, 2010, Mr. Siegel’s 2008, 2009 and 2010 awards vest quarterly in equal installments
over four years due to his retirement eligible status, as defined in the LTIP.
(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 and 2010, the restricted stock or restricted stock units generally vest 100% on the third
anniversary of their grant. As of September 4, 2010, Mr. Siegel’s 2008 and 2010 awards vest quarterly in equal
installments over four and three years, respectively, due to his retirement eligible status as defined in the LTIP.
(4) These 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.
VIII. OPTION EXERCISES AND STOCK VESTED
The following table discloses, for each Named Executive Officer, (i) option awards representing Shares
acquired pursuant to exercise of stock options during 2010; and (ii) stock awards representing (A) Shares of
restricted Company stock that vested in 2010 and (B) Shares acquired in 2010 on account of vesting of restricted
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