Cablevision 2011 Annual Report Download - page 200

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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except per share amounts)
I-76
The following table summarizes activity relating to Company employees who held Cablevision restricted
shares for the year ended December 31, 2011:
Number of
Restricted
Shares
Number of
Performance
Restricted
Shares
Weighted
Average Fair
Value Per
Share at Date of
Grant(b)
Unvested award balance, December 31, 2010 .................
.
6,032,120 606,600
$16.24
Granted .........................................................................
.
952,300 331,200 36.01
Vested .........................................................................
.
(1,713,240) (153,400) 19.89
Awards forfeited ..........................................................
.
(356,838) (243,700) 15.68
Transfers(a) ..................................................................
.
(145,860) -
14.44
Unvested award balance, December 31, 2011 .................
.
4,768,482 540,700 $13.89
______________
(a) Represents the transfer of restricted stock awards for employees who transferred from/to Cablevision affiliated
entities to/from AMC Networks during the period.
(b) Restricted share grant date fair values relating to activity occurring on and subsequent to the AMC Networks
Distribution date were adjusted to 73.59% of their pre-AMC Networks Distribution grant date fair value per share
amount.
As with options (discussed above), Cablevision restricted shares held by AMC Networks and Madison
Square Garden employees are not expensed by the Company, however such restricted shares do have a
dilutive effect on net income per share attributable to Cablevision stockholders. The following table
summarizes activity relating to AMC Networks and Madison Square Garden employees who held
Cablevision restricted shares for the year ended December 31, 2011:
Number of
Restricted
Shares
Number of
Performance
Restricted
Shares
Weighted
Average Fair
Value Per
Share at Date of
Grant(b)
Unvested award balance, December 31, 2010 .................
.
2,914,770 - $14.48
Granted .........................................................................
.
303,530 76,090 36.10
Vested ..........................................................................
.
(749,390) - 19.69
Transfers, net(a) ...........................................................
.
145,860 -
14.44
Awards forfeited ..........................................................
.
(200,700) - 12.13
Awards forfeited in connection with the AMC
Networks Distribution(c) ..........................................
.
(327,620) (76,090)
26.57
Unvested award balance, December 31, 2011 .................
.
2,086,450 - $ 9.37
_________________
(a) Represents the transfer of restricted stock awards for employees who transferred from/to Cablevision affiliated
entities to/from AMC Networks during the period.
(b) Restricted share grant date fair values relating to activity occurring on and subsequent to the AMC Networks
Distribution date were adjusted to 73.59% of their pre-AMC Networks Distribution grant date fair value per share
amount.
(c) Represents restricted shares granted in March 2011 to AMC Networks' employees (including employees transferred
from Cablevision) which were cancelled and replaced with AMC Networks shares in connection with the AMC
Networks Distribution.
Cablevision recognizes compensation expense for restricted shares issued to its employees using a
straight-line amortization method, based on the grant date price of CNYG Class A common stock over the
service period.