XM Radio 2015 Annual Report Download - page 51

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(1) Amounts under “Market Value of Shares or Units of Stock that have not Vested” were calculated
based on the closing price on NASDAQ of our common stock on December 31, 2015 of $4.07.
The RSUs are valued at (a) the closing price of the stock at December 31, 2015 multiplied by
(b) the number of RSUs that have not vested.
(2) Outstanding equity awards for Mr. Meyer vest as follows: options granted at an exercise price of
$5.49 vested in four equal annual instalments from the date of grant on February 2, 2006;
options granted at an exercise price of $3.65 vested in four equal annual instalments from the
date of grant on February 1, 2007; options granted at an exercise price of $2.82 vested in four
equal annual instalments from the date of grant on January 23, 2008; options granted at an
exercise price of $0.6235 vested in four equal annual instalments from the date of grant on
August 31, 2009; options granted at an exercise price of $3.30 vested on October 30, 2015; and
options granted at an exercise price of $3.90 vest on April 30, 2018. The RSUs granted to
Mr. Meyer vest on April 30, 2018.
(3) Outstanding equity awards for Mr. Frear vest as follows: options granted at an exercise price of
$3.65 vested in four equal annual instalments from the date of grant on February 1, 2007;
options granted at an exercise price of $2.82 vested in four equal annual instalments from the
date of grant on January 23, 2008; options granted at an exercise price of $3.05 vested in three
equal annual instalments from the date of grant on February 12, 2008; options granted at an
exercise price of $2.13 vested in four equal annual instalments from the date of grant on
July 21, 2011; and options granted at an exercise price of $3.95 vest in three equal instalments
on July 2, 2016, July 2, 2017 and May 30, 2018.
(4) Outstanding equity awards for Ms. Altman vest as follows: options granted at an exercise price
of $1.64 vested in four equal annual instalments from the date of grant on August 23, 2011; and
options granted at an exercise price of $3.87 vest in three equal annual instalments from the
date of grant on June 19, 2015. The RSUs granted to Ms. Altman vest in three equal annual
instalments from the date of grant on June 19, 2015.
(5) Outstanding equity awards for Mr. Cady vest as follows: options granted at an exercise price of
$3.55 vest in four equal annual instalments from the date of grant on February 3, 2014; options
granted at an exercise price of $3.3699 vest in four equal annual instalments from the date of
grant on August 5, 2014; and options granted at an exercise price of $3.95 vest in three equal
annual instalments from the date of grant on July 29, 2015. The RSUs granted to Mr. Cady vest
as follows: 42,194 RSUs vest on July 29, 2016; 9,275 RSUs vest on August 5, 2016; 42,194
RSUs vest on July 31, 2017; 9,275 RSUs vest on August 7, 2017; 42,194 RSUs vest on
July 30, 2018; and 9,275 RSUs vest on August 6, 2018.
(6) Outstanding equity awards for Mr. Verbrugge vest as follows: options granted at an exercise
price of $2.48 vest in four equal instalments from the date of grant on August 14, 2012; options
granted at an exercise price of $3.61 vest in four equal annual instalments from the date of grant
on August 19, 2013; options granted at an exercise price of $3.3699 vest in four equal annual
instalments from the date of grant on August 5, 2014; options granted at an exercise price of
$3.92 vest in four equal annual instalments from the date of grant on August 5, 2015; and
options granted at an exercise price of $4.01 vest in three equal annual instalments from the
date of grant on December 11, 2015. The RSUs granted to Mr. Verbrugge vest as follows:
38,480 RSUs vest on August 5, 2016; 15,585 RSUs vest on August 19, 2016; 103,907 RSUs
vest on December 12, 2016; 38,480 RSUs vest on August 7, 2017; 15,585 RSUs vest on
August 21, 2017; 103,907 RSUs vest on December 11, 2017; 38,480 RSUs vest on August 6,
2018; 103,907 RSUs vest on December 11, 2018; and 19,930 RSUs vest on August 5, 2019.
All equity awards vest subject to the named executive officer’s continued employment though
the applicable vesting date and are subject to earlier vesting upon certain qualifying terminations of
employment. See “Potential Payments or Benefits Upon Termination or Change in Control.”
41