XM Radio 2015 Annual Report Download - page 118

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Stock-based awards granted under the 2015 Plan are generally subject to a vesting requirement.
Stock options generally expire ten years from the date of grant. Each restricted stock unit entitles
the holder to receive one share of common stock upon vesting. As of December 31, 2015, 246,778
shares of common stock were available for future grants under the 2015 Plan.
Other Plans
We maintain four other share-based benefit plans—the Sirius XM Radio Inc. 2009 Long-Term
Stock Incentive Plan, the XM 2007 Stock Incentive Plan, the Amended and Restated Sirius Satellite
Radio 2003 Long-Term Stock Incentive Plan and the XM 1998 Shares Award Plan. No further
awards may be made under these plans.
The following table summarizes the weighted-average assumptions used to compute the fair
value of options granted to employees and members of our board of directors:
2015 2014 2013
For the Years Ended December 31,
Risk-free interest rate . . . . . . . . . . . . . . . . . . . . . . . . . . 1.4% 1.6% 1.4%
Expected life of options—years . . . . . . . . . . . . . . . . . 4.17 4.72 4.73
Expected stock price volatility. . . . . . . . . . . . . . . . . . . 26% 33% 47%
Expected dividend yield . . . . . . . . . . . . . . . . . . . . . . . . 0% 0% 0%
The following table summarizes the weighted-average assumptions used to compute the fair
value of options granted to third parties, other than non-employee members of our board of
directors:
2015
For the Year Ended
December 31,
Risk-free interest rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.0%
Expected life of options—years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.00
Expected stock price volatility. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37%
Expected dividend yield . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0%
There were no options granted to third parties during the years ended December 31, 2014 and
2013. We do not intend to pay regular dividends on our common stock. Accordingly, the dividend
yield used in the Black-Scholes-Merton option value was zero for all periods.
F-27
SIRIUS XM HOLDINGS INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Dollars and shares in thousands, except per share amounts)