Dollar Tree 2012 Annual Report Download - page 48

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Notes to Consolidated Financial Statements
the retirement eligibility of the grantee. e Company
recognized$0.9millionand$5.4millionofexpense
relatedtotheseRSUsin2012and2011,respectively.
e fair value of these RSUs was determined using the
Company’sclosingstockpriceonthegrantdate.
In2010,theCompanygranted0.4millionRSUs
fromtheEIPandtheEOEPtocertainocersofthe
Company, contingent on the Company meeting certain
performancetargetsin2010andfutureserviceofthese
ocersthroughMarch2013.eCompanymetthese
performancetargetsinscal2010;therefore,thefair
valueoftheseRSUsof$7.8millionisbeingexpensed
over the service period or a shorter period based on
the retirement eligibility of the grantee. e Company
recognized$1.0million,$1.8millionand$4.8millionof
expenserelatedtotheseRSUsin2012,2011and2010,
respectively. e fair value of these RSUs was determined
usingtheCompany’sclosingstockpriceonthegrantdate.
In2012,theCompanygrantedRSUswithan
estimatedvalueof$1.7millionfromtheOmnibusPlan
tocertainocersoftheCompany.Eachocerhasthe
opportunitytoearnanamountbetweenzeropercent
(0%)andtwohundredpercent(200%)oftheindividual
target award contingent on the Company meeting certain
performance targets for the period beginning on January
29,2012andendingonJanuary31,2015.Providingthe
vestingconditionsaresatised,theawardswillvestatthe
end of the performance period. e estimated value is
being expensed over the performance period or a shorter
period based on the retirement eligibility of the grantee.
eCompanyrecognized$1.0millionofexpenserelated
totheseRSUsin2012.eestimatedvalueofthese
RSUswasdeterminedusingtheCompany’sclosingstock
price on the grant date.
In2011,theCompanygrantedRSUswithan
estimatedvalueof$0.7millionfromtheOmnibusPlan
tocertainocersoftheCompany.Eachocerhasthe
opportunitytoearnanamountbetweenzeropercent
(0%)andtwohundredpercent(200%)oftheindividual
target award contingent on the Company meeting certain
performance targets for the period beginning on January
30,2011andendingonFebruary1,2014.Providingthe
vestingconditionsaresatised,theawardswillvestatthe
end of the performance period. e estimated value is
being expensed over the performance period or a shorter
period based on the retirement eligibility of the grantee.
eCompanyrecognized$0.2millionand$0.4million
ofexpenserelatedontheseRSUsin2012and2011,
respectively. e estimated value of these RSUs was
determinedusingtheCompany’sclosingstockpriceon
the grant date.
In2012,theCompanygranted0.2millionRSUs
withafairvalueof$10.0millionfromtheOmnibus
PlantotheChiefExecutiveOceroftheCompany,
contingent on the Company meeting certain performance
targetsfortheperiodbeginningJuly29,2012andending
onAugust3,2013andthegranteecompletingave-year
service requirement. e fair value of these RSUs is
beingexpensedratablyovertheve-yearvestingperiod.
eCompanyrecognized$1.3millionofexpenserelated
totheseRSUsin2012.efairvalueoftheseRSUswas
determinedusingtheCompany’sclosingstockpriceon
the grant date.
efollowingtablesummarizesthestatusof
RSUsasofFebruary2,2013,andchangesduringthe
year then ended:
Shares
Weighted
Average
Grant
Date Fair
Value
NonvestedatJanuary28,2012
 2,511,450 $ 22.49
Granted 933,346   48.43
Vested (1,315,755)   20.24
Forfeited (74,868)   31.41
NonvestedatFebruary2,2013
 2,054,173 $ 35.37
InconnectionwiththevestingofRSUsin2012,
2011and2010,certainemployeeselectedtoreceive
shares net of minimum statutory tax withholding
amountswhichtotaled$22.1million,$13.2million
and$11.1million,respectively.etotalfairvalue
of the restricted shares vested during the years ended
February2,2013,January28,2012andJanuary29,
2011was$26.6million,$20.9millionand$19.1million,
respectively.
Stock Options
In2012,2011and2010,theCompanygrantedless
than0.1millionservicebasedstockoptionsfromthe
OmnibusPlan,EIP,EOPandtheNEDP,respectively.
All options granted to directors vest immediately and
areexpensedonthegrantdate.During2012,2011and
2010,theCompanyrecognized$1.2million,$1.1million
and$2.3million,respectivelyofexpenserelatedto
service-based stock option grants.
efollowingtablessummarizetheCompany’s
various option plans and information about options
outstandingatFebruary2,2013andchangesduringthe
year then ended.
46 Dollar Tree, Inc.