Big Lots 2013 Annual Report Download - page 202

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The number of stock options expected to vest was based on our annual forfeiture rate assumption.
A summary of the nonvested awards other than stock options activity for fiscal years 2011, 2012, and 2013 is as follows:
Number of
Shares
Weighted
Average
Grant-Date
Fair Value Per
Share
Outstanding non-vested awards other than stock options at January 29, 2011 503,784 $ 35.88
Grante
d
564,589 40.76
Ves ted (271,784)35.84
Forfeited (55,300) 38.72
Outstanding non-vested awards other than stock options at January 28, 2012 741,289 $ 39.40
Grante
d
589,784 42.90
Ves ted (477,664)38.52
Forfeited (69,800) 43.04
Outstanding non-vested awards other than stock options at February 2, 2013 783,609 $ 42.25
Grante
d
496,376 35.47
Ves ted (64,784)37.79
Forfeited (513,300) 41.86
Outstanding non-vested awards other than stock options at February 1, 2014 701,901 $ 38.15
The non-vested restricted stock awards granted to employees (other than the awards granted to Mr. Fishman, our former CEO in
2011 and 2012) vest if certain financial performance objectives are achieved. If we meet a threshold financial performance
objective and the grantee remains employed by us, the restricted stock will vest on the opening of our first trading window five
years after the grant date of the award. If we meet a higher financial performance objective and the grantee remains employed by
us, the restricted stock will vest on the first trading day after we file our Annual Report on Form 10-K with the SEC for the fiscal
year in which the higher objective is met.
On the grant date of the 2011 restricted stock awards (other than the award granted to Mr. Fishman), we estimated a three-year
period for vesting based on the assumed achievement of the higher financial performance objective. In the fourth quarter of 2012,
based on operating results and future projections, we changed the estimated vesting period of the 2011 restricted stock awards to
four years. In the fourth quarter of 2013, based on operating results and future projections, we changed the estimated vesting period
of the 2011 restricted stock awards to five years. The impact of this change in estimate will be recognized ratably over the
remaining vesting period.
On the grant date of the 2012 restricted stock awards (other than the award granted to Mr. Fishman), we estimated a three-year
period for vesting based on the assumed achievement of the higher financial performance objective. In the fourth quarter of 2012,
based on operating results and future projections, we changed the estimated vesting period of the 2012 restricted stock awards to
four years. In the fourth quarter of 2013, based on operating results and future projections, we changed the estimated vesting period
of the 2012 restricted stock awards to five years. The impact of this change in estimate will be recognized ratably over the
remaining vesting period.
On the grant date of the 2013 restricted stock awards, we estimated a three-year period for vesting based on the assumed
achievement of the higher financial performance objective. In the fourth quarter of 2013, based on operating results and future
projections, we changed the estimated vesting period of the 2013 restricted stock awards to five years. The impact of this change in
estimate will be recognized ratably over the remaining vesting period.