Archer Daniels Midland 2009 Annual Report Download - page 67

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61
Archer Daniels Midland Company
Notes to Consolidated Financial Statements (Continued)
Note 9.
Shareholders’ Equity (Continued)
The fair value of Restricted Stock Awards is determined based on the market value of the Company’s shares on
the grant date. The weighted-average grant-date fair values of awards granted during 2009 and 2008, were
$26.03 and $34.45, respectively.
A summary of Restricted Stock Awards activity during 2009 is presented below:
Restricted
Weighted Average
Stock Awards
Grant-Date Fair Value
(In thousands, except per share amounts)
Non-vested at June 30, 2008
4,536
$30.00
Granted
1,144
26.03
Vested
(2,241)
21.96
Forfeited
(26)
32.91
Non-vested at June 30, 2009
3,413
$33.81
At June 30, 2009 there was $19 million of total unrecognized compensation expense related to Restricted Stock
Awards. Amounts to be recognized as compensation expense during the next three fiscal years are $13 million,
$5 million, and $1 million, respectively. The total fair value of Restricted Stock Awards vested during 2009 was
$49 million.