XM Radio 2015 Annual Report Download - page 119

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The following table summarizes stock option activity under our share-based plans for the years
ended December 31, 2015, 2014 and 2013:
Options
Weighted-Average
Exercise
Price
Per Share
Weighted-Average
Remaining
Contractual
Term
(Years)
Aggregate
Intrinsic
Value
Outstanding at the beginning of January 1,
2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 274,512 $1.92
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57,228 $3.59
Exercised. . . . . . . . . . . . . . . . . . . . . . . . . . . . . (61,056) $1.31
Forfeited, cancelled or expired. . . . . . . . . (6,445) $2.02
Outstanding as of December 31, 2013 . . . . . 264,239 $2.42
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61,852 $3.39
Exercised. . . . . . . . . . . . . . . . . . . . . . . . . . . . . (46,943) $1.63
Forfeited, cancelled or expired. . . . . . . . . (11,294) $4.08
Outstanding as of December 31, 2014 . . . . . 267,854 $2.72
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145,366 $3.95
Exercised. . . . . . . . . . . . . . . . . . . . . . . . . . . . . (57,667) $1.88
Forfeited, cancelled or expired. . . . . . . . . (17,072) $4.60
Outstanding as of December 31, 2015 . . . . . 338,481 $3.29 7.49 $267,813
Exercisable as of December 31, 2015. . . . . . 121,751 $2.51 5.50 $194,362
The weighted average grant date fair value per share of options granted during the years
ended December 31, 2015, 2014 and 2013 was $1.11, $1.05 and $1.48, respectively. The total
intrinsic value of stock options exercised during the years ended December 31, 2015, 2014 and
2013 was $117,944, $89,428 and $142,491, respectively. During the years ended December 31,
2015, 2014 and 2013, the number of net settled shares which were issued as a result of stock
option exercises was 17,652, 15,228 and 32,650, respectively.
We recognized share-based payment expense associated with stock options of $70,084,
$69,754 and $66,231 for the years ended December 31, 2015, 2014 and 2013, respectively.
The following table summarizes the restricted stock unit and stock award activity under our
share-based plans for the years ended December 31, 2015, 2014 and 2013:
Shares
Grant Date
Fair Value
Per Share
Nonvested at the beginning of January 1, 2013 . . . . . . . . . . . . . . . . . . . . . . 429 $3.25
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,873 $3.59
Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (192) $3.27
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (126) $3.61
Nonvested as of December 31, 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,984 $3.58
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,108 $3.38
Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,138) $3.62
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (379) $3.52
Nonvested as of December 31, 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,575 $3.47
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,961 $3.92
Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3,464) $3.44
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (984) $3.52
Nonvested as of December 31, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,088 $3.73
F-28
SIRIUS XM HOLDINGS INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(Dollars and shares in thousands, except per share amounts)