Virgin Media 2012 Annual Report Download - page 104
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F-33
Restricted Stock Grants
A summary of the status of our non-vested shares of restricted stock as of December 31, 2012, and of changes during
the year ended December 31, 2012, is provided below:
Non-
performance
Based Performance
Based Total
Weighted
Average
Grant-date
Fair Value
Non-vested—beginning of year 100,000 212,500 312,500 $ 10.71
Granted ————
Vested (100,000) (203,050) (303,050) 10.72
Forfeited or Expired — (9,450) (9,450) 10.30
Non-vested—end of year — — — $ —
As of December 31, 2012, there was no unrecognized compensation cost related to non-vested shares of restricted
stock granted for which a measurement date has been established.
The total fair value of shares of restricted stock vested during the years ended December 31, 2012, 2011 and 2010,
was £5.2 million, £5.1 million and £7.0 million, respectively.
Note 10—Employee Benefit Plans
Defined Benefit Plans
Certain of our subsidiaries operate two defined benefit pension plans in the U.K. The assets of the plans are held
separately from those of ourselves and are invested in portfolios under the management of investment groups. The
pension cost is calculated using the projected unit method. Our defined benefit pension plans use a measurement
date of December 31. Our funding requirements are reviewed and generally revised based on a valuation that is
performed every three years. The current triennial funding valuation is being performed as of December 31, 2011 and
we expect our funding requirements arising from this valuation to be determined prior to March 31, 2013. Our policy
is to fund amounts to the defined benefit plans necessary to comply with the funding requirements as prescribed by
the laws and regulations in the U.K.
Employer Contributions
For the year ended December 31, 2012, we contributed £17.7 million to our pension plans. We presently anticipate
contributing a total of £17.0 million to fund our pension plans in 2013, but this is subject to the outcome of the on-going
triennial valuation.
Table of Contents
VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
Note 9—Stock-Based Compensation Plans (continued)