Albertsons 2014 Annual Report Download - page 94

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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 23, 2013 1,443 $ 7.83
Granted 491 6.98
Lapsed (967) 6.23
Canceled and forfeited (30) 6.08
Outstanding, February 22, 2014 937 $ 9.09
In fiscal 2013, the Company granted restricted stock awards of 1 shares to certain employees under the
Company’s fiscal 2012 bonus plan at a fair value of $6.15 per share. The restricted stock awards will vest over a
three year period from the date of grant.
Stock-Based Compensation Expense
The components of pre-tax stock-based compensation expense are included primarily in Selling and
administrative expenses in the Consolidated Statements of Operations, the expense recognized and related tax
benefits were as follows:
2014 2013 2012
Stock-based compensation $ 22 $ 13 $ 13
Income tax benefits (8) (5) (5)
Stock-based compensation (net of tax) $ 14 $ 8 $ 8
The Company realized excess tax shortfalls of $1 related to stock-based awards during fiscal 2014, and $2 during
each of fiscal 2013 and 2012.
Unrecognized Stock-Based Compensation Expense
As of February 22, 2014, there was $18 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.
Long-Term Incentive Plans
In fiscal 2013, the Company granted 5 performance award units to certain employees under the SUPERVALU
INC. 2007 Stock Plan as part of the Company’s long-term incentive program (“2013 LTIP”). Payout of the award
was based on the increase in share price over the three-year service period ending May 1, 2015, and will be
settled in the Company’s stock. Due to the deemed change in control along with certain other events discussed
above, the 2013 and 2012 long-term incentive program awards were immediately accelerated for the vast
majority of the outstanding awards in fiscal 2014.
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