Albertsons 2012 Annual Report Download - page 69

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Restricted Stock Awards
Restricted stock award activity consisted of the following:
Restricted
Stock
(In thousands)
Weighted Average
Grant-Date
Fair Value
Outstanding, February 26, 2011 855 $ 17.86
Granted 13 9.07
Lapsed (400) 10.22
Canceled and forfeited (24) 19.81
Outstanding, February 25, 2012 444 $ 17.96
Compensation Expense
The components of pre-tax stock-based compensation expense (included primarily in Selling and administrative
expenses in the Consolidated Statements of Earnings) and related tax benefits were as follows:
2012 2011 2010
Stock-based compensation $ 13 $ 15 $ 31
Income tax benefits (5) (6) (12)
Stock-based compensation (net of tax) $ 8 $ 9 $ 19
The Company realized excess tax shortfalls of $2, $2, and $1 related to stock-based awards during fiscal 2012,
2011 and 2010, respectively.
Unrecognized Compensation Expense
As of February 25, 2012, there was $25 of unrecognized compensation expense related to unvested stock-based
awards granted under the Company’s stock plans. The expense is expected to be recognized over a weighted
average remaining vesting period of approximately two years.
NOTE 10—TREASURY STOCK PURCHASE PROGRAM
On June 24, 2010, the Board of Directors of the Company adopted and announced a new annual share purchase
program authorizing the Company to purchase up to $70 of the Company’s common stock. Stock purchases will
be made primarily from the cash generated from the settlement of stock options. This annual authorization
program replaced the previously existing share purchase program and expired June 30, 2011.
During fiscal 2011, the Company purchased 0.2 shares under the previously existing share purchase program at
an average cost of $12.97 per share. The Company did not purchase any shares during fiscal 2012 or 2010.
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