iHeartMedia 2009 Annual Report Download - page 133

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A summary of CCO’s nonvested options at and changes during the year ended December 31, 2009, is presented below:
R
estricted Stock Awards
CCO also grants restricted stock awards to employees and directors of CCO and its affiliates. These common shares hold a legend
which restricts their transferability for a term of up to five years and are forfeited, except in certain circumstances, in the event the
employee terminates his or her employment or relationship with CCO prior to the lapse of the restriction. Restricted stock awards are
granted under the CCO equity incentive plan.
The following table presents a summary of CCO’s restricted stock outstanding at and restricted stock activity during the year ended
December 31, 2009 (“Price” reflects the weighted average share price at the date of grant):
128
(2) No CCO options exercised during the post-merger year ended December 31, 2009. Cash received from CCO option exercises
during the pre-merger period from January 1, 2008 through July 30, 2008, was $4.3 million. Cash received from CCO option
exercises during the pre-merger year ended December 31, 2007, was $10.8 million. The total intrinsic value of CCO options
exercised during the pre-merger period from January 1, 2008 through July 30, 2008, was $0.7 million. The total intrinsic value
of CCO options exercised during the pre-merger year ended December 31, 2007 was $2.0 million.
(In thousands, except per share data)
Options
Weighted
Average
Grant Date
Fair Value
Nonvested, January 1, 2009
4,734
$7.40
Granted
2,388 3.38
Vested
(1,332)
7.43
Forfeited
(167)
6.43
Nonvested, December 31, 2009
5,623
5.71
(1) The total fair value of CCO options vested during the post-merger year ended December 31, 2009 was $9.9 million. The total
fair value of CCO options vested during the pre-merger period from January 1, 2008 through July 30, 2008 was $5.7 million.
The total fair value of CCO options vested during the post-merger period from July 31 through December 31, 2008 was $2.3
million. The total fair value of CCO options vested during the pre-merger year ended December 31, 2007 was $2.0 million.
(In thousands, except per share data)
Awards
Price
Post-Mer
g
er
Outstanding, January 1, 2009
351
$24.54
Granted
150 9.03
Vested (restriction lapsed)
(122)
24.90
Forfeited
(14)
22.11
Outstanding, December 31, 2009
365
18.14
(1)