CompUSA 2015 Annual Report Download - page 65
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Thetotalintrinsicvalueofoptionsexercisedwasdeminimisfor2015and$0.2millionfor2014and2013.
Thefollowingtablesummarizesinformationaboutoptionsvestedandexercisableornonvestedthatareexpectedtovest(nonvestedoutstandinglessexpected
forfeitures)atDecember31,2015:
Range of Exercise Prices
Number
Exercisable
Weighted
Average
Exercise
Price
Weighted Average
Remaining
Contractual Life
Aggregate
Intrinsic
Value (in
millions)
$ 5.00 to $ 10.00 47,202 $ 9.51 7.46 $ -
$ 10.01 to $ 15.00 390,950 $ 12.84 4.98 -
$ 15.01 to $ 20.00 431,763 $ 18.22 3.93 -
$ 20.01 to $ 20.15 100,000 $ 20.15 1.04 -
$ 5.00 to $ 20.15 969,915 $ 15.83 4.22 $ -
Theaggregateintrinsicvalueinthetablesaboverepresentsthetotalpretaxintrinsicvalue(thedifferencebetweentheclosingstockpriceonthelastdayof
tradingin2015andtheexerciseprice)thatwouldhavebeenreceivedbytheoptionholdershadalloptionsbeenexercisedonDecember31,2015.Thisvalue
willchangebasedonthefairmarketvalueoftheCompany’scommonstock.
Thefollowingtablereflectstheactivityforallunvestedstockoptionsduring2015:
Shares
Weighted
Average Grant-
Date Fair Value
UnvestedatJanuary1,2015 287,750 $ 8.21
Granted 25,000 $ 4.44
Vested (132,125) $ 8.67
Forfeited (58,125) $ 7.22
UnvestedatDecember31,2015 122,500 $ 7.40
AtDecember31,2015,therewasapproximately$0.2millionofunrecognizedcompensationcostsrelatedtounvestedstockoptions,whichisexpectedtobe
recognizedover a weighted average periodof1.48years. The total fairvalueof stock options vested during2015,2014and 2013 was $1.1 million, $1.2
millionand$1.6million,respectively.
Restricted Stock and Restricted Stock Units
InAugust2010,theCompanygranted175,000RSUsunderthe2010PlantoakeyemployeewhoisalsoaCompanydirector.TheseRSUshavenoneofthe
rightsasothersharesofcommonstock,otherthanrightstocashdividends,untilcommonstockisdistributed.ThisRSUawardwasanon-performanceaward
whichvestsintenequalannualinstallmentsof17,500unitsbeginningMay15,2011andeachMay15,thereafter.CompensationexpenserelatedtothisRSU
awardwasapproximately$0.2millionduringeachof2015and2014and$0.3millionin2013.
InOctober2011,theCompanygranted100,000RSUsunderthe2010Planto,atthattime,akeyemployee.ThisRSUawardwasanon-performanceaward
whichvestedintenequalannualinstallmentsof10,000unitsbeginningOctober3,2012andeachOctober3thereafter.Theterminationwithoutcauseofthis
keyemployeeduring2013causedtheacceleratedvestingoftheremaining90,000sharesinaccordancewiththerestrictedstockagreementwiththeCompany.
Compensationexpenserelatedtotheserestrictedstockawardswaszeroduringeachof2015and2014andapproximately$0.8millionin2013.
InNovember2011,theCompanygranted100,000RSUsunderthe2010PlantoakeyemployeewhoisalsoaCompanydirector.ThisRSUawardwasanon-
performance award which vests in ten equal annual installments of 10,000 units beginning November 14, 2012 and each November 14 thereafter.
CompensationexpenserelatedtothisRSUawardwasapproximately$0.2millionduringeachof2015,2014and2013.
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