XM Radio 2010 Annual Report Download - page 124

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The following table summarizes the nonvested restricted stock and restricted stock unit activity under our
share-based payment plans for the years ended December 31, 2010, 2009 and 2008 (shares in thousands):
Shares
Weighted-Average
Grant Date
Fair Value
Nonvested, January 1, 2008 ................................. 3,623 $3.70
Shares exchanged for non-vested XM holdings shares ............ 33,339 $2.93
Granted .............................................. 3,208 $2.87
Vested restricted stock awards .............................. (15,342) $2.97
Vested restricted stock units ............................... (2,793) $3.55
Forfeited.............................................. (2,104) $2.90
Nonvested, December 31, 2008 ............................... 19,931 $2.84
Granted .............................................. 84,851 $0.37
Vested restricted stock awards .............................. (8,476) $2.98
Vested restricted stock units ............................... (87,036) $0.46
Forfeited.............................................. (2,351) $1.92
Nonvested, December 31, 2009 ............................... 6,919 $2.65
Granted .............................................. — $ —
Vested restricted stock awards .............................. (4,039) $2.85
Vested restricted stock units ............................... (192) $2.92
Forfeited.............................................. (291) $2.72
Nonvested, December 31, 2010 ............................... 2,397 $2.57
The weighted average grant date fair value of restricted stock units granted during the years ended Decem-
ber 31, 2010, 2009 and 2008 was $0, $0.37 and $2.87; no restricted stock units were granted during 2010. The total
intrinsic value of restricted stock and restricted stock units that vested during the years ended December 31, 2010,
2009 and 2008 was $3,927, $45,827 and $21,451, respectively.
We recognized share-based payment expense associated with restricted stock units and shares of restricted
stock of $7,397, $16,632 and $21,813 for the years ended December 31, 2010, 2009 and 2008, respectively.
Total unrecognized compensation costs related to unvested share-based payment awards for stock options and
restricted stock units and shares granted to employees and members of our board of directors at December 31, 2010
and 2009, net of estimated forfeitures, was $108,170 and $114,068, respectively. The weighted-average period over
which the compensation expense for these awards is expected to be recognized is three years as of December 31,
2010.
401(k) Savings Plan
We sponsor the Sirius XM Radio 401(k) Savings Plan (the “Sirius XM Plan”) for eligible employees.
The Sirius XM Plan allows eligible employees to voluntarily contribute from 1% to 50% of their pre-tax
eligible earnings, subject to certain defined limits. We match 50% of an employee’s voluntary contributions, up to
6% of an employee’s pre-tax salary, in the form of shares of common stock. Employer matching contributions under
the Sirius XM Plan vest at a rate of 331⁄3% for each year of employment and are fully vested after three years of
employment for all current and future contributions. Legacy XM Plan participants are fully vested for all current
and future employer contributions. Share-based payment expense resulting from the matching contribution to the
plans was $2,356, $2,895 and $2,735 for the years ended December 31, 2010, 2009 and 2008, respectively.
F-36
SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)