Avid 2008 Annual Report Download - page 83

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78
Information with respect to non-vested restricted stock units for the year ended December 31, 2008 is as follows:
Non-Vested Restricted Stock Units
Shares
Weighted-
Average
Grant-Date
Fair Value
Weighted-
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
(in thousands)
N
on-vested at December 31, 2007 647,501 $35.39
Granted 784,254 $22.96
Vested (187,803) $35.19
Forfeited (254,180) $29.86
N
on-vested at December 31, 2008 989,772 $27.28 1.46 $10,789
Expected to vest 854,866 $27.45 1.37 $9,318
The weighted-average grant date fair value of restricted stock units granted during the years ended December 31, 2007
and 2006 was $33.76 and $47.01, respectively. The total fair value of restricted stock units vested during the years
ended December 31, 2008, 2007, and 2006, was $4.3 million, $1.9 million, and $0.1 million, respectively.
Information with respect to non-vested restricted stock for the year ended December 31, 2008 is as follows:
Non-Vested Restricted Stock
Shares
Weighted-
Average
Grant-Date
Fair Value
Weighted-
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
(in thousands)
N
on-vested at December 31, 2007 106,463 $26.72
Granted — —
Vested (4,309) $47.01
Forfeited (2,154) $47.01
N
on-vested at December 31, 2008 100,000 $25.41 2.97 $1,090
The weighted-average grant date fair value of restricted stock granted during the years ended December 31, 2007 and
2006 was $25.41 and $47.01, respectively. The total fair value of restricted stock vested during the years ended
December 31, 2008, 2007 and 2006, was $0.1 million, $0.1 million, and $0.4 million, respectively.
Employee Stock Purchase Plans
On February 27, 2008, the Company’s board of directors approved the Company’s Second Amended and Restated
1996 Employee Stock Purchase Plan (as amended, the “ESPP”). The amended plan became effective May 1, 2008, the
first day of the next offering period under the plan, and offers shares for purchase at a price equal to 85% of the
closing price on the applicable offering termination date. Shares issued under the ESPP are considered compensatory
under SFAS 123(R). Accordingly, the Company is required to assign fair value to, and record compensation expense
for, shares issued from the ESPP starting May 1, 2008. Prior to May 1, 2008, shares were authorized for issuance at a
price equal to 95% of the closing price on the applicable offering termination date, and shares offered under this
arrangement were considered noncompensatory under SFAS 123(R).