Virgin Media 2013 Annual Report Download - page 72

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VIRGIN MEDIA INC.
(See note 1)
Notes to Consolidated Financial Statements — (Continued)
December 31, 2013, 2012 and 2011
II - 47
Virgin Media Incentive Awards
Equity awards were granted to certain of our employees prior to the LG/VM Transaction under certain incentive plans
maintained and administered by our company and no new grants will be made under these incentive plans. The equity awards
granted include stock options, restricted shares, RSUs and performance awards. In accordance with the terms of the LG/VM
Transaction, Liberty Global issued Liberty Global share-based incentive awards (Virgin Media Replacement Awards) to employees
and former directors of our company in exchange for corresponding Old Virgin Media awards.
The following tables summarize the share-based award activity during the twelve months ended December 31, 2013:
Number of
shares
Weighted
average
exercise
price
Weighted
average
remaining
contractual
term
Aggregate
intrinsic
value
in years in millions
Options — Old Virgin Media
Outstanding at January 1, 2013........................................................... 11,842,974 $ 18.75
Granted .......................................................................................... 1,070,934 $ 37.87
Cancelled ....................................................................................... (318,263) $ 21.93
Exercised........................................................................................ (2,732,654) $ 16.43
Outstanding at June 7, 2013................................................................ 9,862,991 $ 21.36
Options — Liberty Global Class A ordinary shares
Issued in exchange for Old Virgin Media options on June 7, 2013.... 3,934,574 $ 31.16
Cancelled ....................................................................................... (144,329) $ 52.78
Exercised........................................................................................ (1,753,245) $ 27.96
Transfers ........................................................................................ (16,390) $ 43.38
Outstanding at December 31, 2013 (a) ............................................... 2,020,610 $ 32.30 6.9 $ 114.6
Exercisable at December 31, 2013...................................................... 981,259 $ 26.64 5.7 $ 61.2
Options — Liberty Global Class C ordinary shares
Issued in exchange for Old Virgin Media options on June 7, 2013.... 2,935,250 $ 27.16
Cancelled ....................................................................................... (107,690) $ 48.77
Exercised........................................................................................ (1,341,102) $ 24.52
Transfers ........................................................................................ (12,235) $ 42.35
Outstanding at December 31, 2013 (a) ............................................... 1,474,223 $ 27.86 7.1 $ 83.2
Exercisable at December 31, 2013...................................................... 699,443 $ 21.50 6.0 $ 43.9
______________
(a) The pound sterling equivalent amounts for aggregate intrinsic value for outstanding Liberty Global Class A ordinary share
options and outstanding Liberty Global Class C ordinary share options are £69.2 million and £50.2 million, respectively.