Albertsons 2016 Annual Report Download - page 87

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85
2016 2015 2014
Dividend yield —% —% —%
Volatility rate 49.0 – 56.5% 50.8 – 53.2% 49.3 – 51.3%
Risk-free interest rate 1.2 – 1.4% 1.2 – 1.6% 0.6 – 1.0%
Expected option life 4.0 – 4.0 years 4.0 – 5.0 years 4.0 – 6.0 years
Restricted Stock
Restricted stock awards and restricted stock unit activity consisted of the following:
Restricted
Stock Units
(In thousands)
Restricted
Stock Awards
(In thousands)
Weighted
Average Grant
Date Fair
Value(1)
Outstanding, February 23, 2013 972 1,443 $ 7.83
Granted 296 491 6.98
Lapsed (1,268)(967) 6.23
Canceled and forfeited — (30) 6.08
Outstanding, February 22, 2014 — 937 9.09
Granted 2,274 18 7.11
Lapsed (133)(417) 6.54
Canceled and forfeited (90)(2) 6.09
Outstanding, February 28, 2015 2,051 536 11.02
Granted 65 2,339 8.74
Lapsed (742)(456) 6.82
Canceled and forfeited (125)(239) 8.79
Outstanding, February 27, 2016 1,249 2,180 $ 8.68
(1) Weighted average grant date fair value is only used for restricted stock awards.
In fiscal 2016, the Company granted 2 shares of restricted stock awards to certain employees under the Company's 2012 Stock
Plan. The restricted stock awards vest over a three year period from the date of the grant.
In fiscal 2015, the Company granted 2 shares of restricted stock units to certain employees under the Company's 2012 Stock
Plan. The restricted stock awards vest over a three year period from the date of the 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:
2016 2015 2014
Stock-based compensation $ 25 $ 23 $ 22
Income tax benefits (10)(9)(8)
Stock-based compensation, net of tax $ 15 $ 14 $ 14
The Company realized excess tax shortfalls of $1, $1 and $1 on the exercise of stock-based awards in fiscal 2016, 2015 and
2014, respectively.
Unrecognized Stock-Based Compensation Expense
As of February 27, 2016, there was $31 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.