AMD 2012 Annual Report Download - page 114

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The summary of the changes in restricted stock and restricted stock units outstanding, including the market-
based restricted stock units, during 2012, 2011 and 2010 is presented below:
2012 2011 2010
Number
of Shares
Weighted-
Average
Fair
Value
Number
of Shares
Weighted-
Average
Fair
Value
Number
of Shares
Weighted-
Average
Fair
Value
(In millions except share price)
Unvested balance at beginning of
period ......................... 24 $7.07 24 $6.50 22 $5.32
Granted ...................... 17 $5.43 14 $7.34 12 $8.54
Forfeited ..................... (5) $6.84 (4) $6.66 (2) $6.13
Vested ....................... (11) $6.05 (10) $6.25 (8) $6.41
Unvested balance at end of period ..... 25 $6.41 24 $7.07 24 $6.50
Included in the table above are approximately 322,000 shares of restricted stock granted upon the
acquisition of SeaMicro (See Note 4). The weighted-average estimated fair value of the restricted stock was
$4.03.
The total fair value of restricted stock and restricted stock units vested during 2012, 2011 and 2010 was $60
million, $74 million and $61 million, respectively. Compensation expense recognized for the restricted stock and
restricted stock units for 2012, 2011 and 2010 was approximately $77 million, $73 million and $61 million,
respectively.
As of December 29, 2012, the Company had $44 million of total unrecognized compensation expense, net
of estimated forfeitures, related to stock options that will be recognized over the weighted-average period of 2.20
years.
As of December 29, 2012, the Company had $97 million of total unrecognized compensation expense, net
of estimated forfeitures, related to restricted stock and restricted stock units that will be recognized over the
weighted-average period of 1.97 years.
NOTE 14: Other Employee Benefit Plans
Retirement Savings Plan. The Company has a retirement savings plan, commonly known as a 401(k) plan
that allows participating employees in the United States to contribute up to 100% of their pre-tax salary subject to
Internal Revenue Service limits. The Company matched 75% of employees’ contributions up to 6% of their
compensation, to a maximum match of $11,250, $11,025 and $11,025 for 2012, 2011 and 2010, respectively,
which is 4.5% (75% of the 6%) of the Internal Revenue Service compensation limit. The Company’s
contributions to the 401(k) plan were approximately $22 million in 2012, $20 million in 2011 and $9 million in
2010.
In 2009, as part of its cost cutting efforts, the Company temporarily suspended the matching contributions
for its 401(k) plan, effective February 2, 2009. In January 2010, the Company announced the partial
reinstatement of the Section 401(k) plan matching contributions for 2010. At the end of 2010, the Company
looked back at all employee contributions and made a one-time match equivalent to half of the full-year amount.
This Company match was one-half of 75% of contributions through December 31, 2010, up to the first 6% of pay
deferred.
106