World Fuel Services 2008 Annual Report Download - page 81

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WORLD FUEL SERVICES CORPORATION AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Restricted Stock Awards
The following table summarizes the status of our unvested restricted stock outstanding and related
transactions for each of the following years (in thousands, except weighted average grant-date fair value price
and weighted average remaining vesting term data):
Unvested Restricted Stock Outstanding
Unvested
Restricted
Stock
Weighted
Average
Grant-
date Fair
Value
Price
Aggregate
Intrinsic
Value
Weighted
Average
Remaining
Vesting
Term
(in Years)
At December 31, 2005 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 428 $16.97 $14,387 1.9
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 198 40.70
Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (71) 10.06
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (13) 35.11
At December 31, 2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 542 26.40 24,097 2.1
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108 38.24
Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (222) 16.29
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (54) 36.51
At December 31, 2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 374 34.69 10,825 2.8
Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (58) 24.70
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (11) 34.95
At December 31, 2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305 $37.45 $11,427 2.2
Included in the above table are 38,000 shares of restricted stock granted in connection with our acquisition
of Tramp Oil in April 2004. This restricted stock was granted outside of any of our share-based payment plans,
had a fair value of $0.8 million at the date of grant and will vest in April 2009.
The aggregate value of restricted stock which vested during 2008, 2007 and 2006 was $1.6 million, $9.6
million and $3.1 million, respectively, based on the average high and low market price of our common stock at
the vesting date.
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