Dollar Tree 2012 Annual Report Download - page 48
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Please find page 48 of the 2012 Dollar Tree annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Notes to Consolidated Financial Statements
the retirement eligibility of the grantee. e Company
recognized$0.9millionand$5.4millionofexpense
relatedtotheseRSUsin2012and2011,respectively.
e fair value of these RSUs was determined using the
Company’sclosingstockpriceonthegrantdate.
In2010,theCompanygranted0.4millionRSUs
fromtheEIPandtheEOEPtocertainocersofthe
Company, contingent on the Company meeting certain
performancetargetsin2010andfutureserviceofthese
ocersthroughMarch2013.eCompanymetthese
performancetargetsinscal2010;therefore,thefair
valueoftheseRSUsof$7.8millionisbeingexpensed
over the service period or a shorter period based on
the retirement eligibility of the grantee. e Company
recognized$1.0million,$1.8millionand$4.8millionof
expenserelatedtotheseRSUsin2012,2011and2010,
respectively. e fair value of these RSUs was determined
usingtheCompany’sclosingstockpriceonthegrantdate.
In2012,theCompanygrantedRSUswithan
estimatedvalueof$1.7millionfromtheOmnibusPlan
tocertainocersoftheCompany.Eachocerhasthe
opportunitytoearnanamountbetweenzeropercent
(0%)andtwohundredpercent(200%)oftheindividual
target award contingent on the Company meeting certain
performance targets for the period beginning on January
29,2012andendingonJanuary31,2015.Providingthe
vestingconditionsaresatised,theawardswillvestatthe
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.
eCompanyrecognized$1.0millionofexpenserelated
totheseRSUsin2012.eestimatedvalueofthese
RSUswasdeterminedusingtheCompany’sclosingstock
price on the grant date.
In2011,theCompanygrantedRSUswithan
estimatedvalueof$0.7millionfromtheOmnibusPlan
tocertainocersoftheCompany.Eachocerhasthe
opportunitytoearnanamountbetweenzeropercent
(0%)andtwohundredpercent(200%)oftheindividual
target award contingent on the Company meeting certain
performance targets for the period beginning on January
30,2011andendingonFebruary1,2014.Providingthe
vestingconditionsaresatised,theawardswillvestatthe
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.
eCompanyrecognized$0.2millionand$0.4million
ofexpenserelatedontheseRSUsin2012and2011,
respectively. e estimated value of these RSUs was
determinedusingtheCompany’sclosingstockpriceon
the grant date.
In2012,theCompanygranted0.2millionRSUs
withafairvalueof$10.0millionfromtheOmnibus
PlantotheChiefExecutiveOceroftheCompany,
contingent on the Company meeting certain performance
targetsfortheperiodbeginningJuly29,2012andending
onAugust3,2013andthegranteecompletingave-year
service requirement. e fair value of these RSUs is
beingexpensedratablyovertheve-yearvestingperiod.
eCompanyrecognized$1.3millionofexpenserelated
totheseRSUsin2012.efairvalueoftheseRSUswas
determinedusingtheCompany’sclosingstockpriceon
the grant date.
efollowingtablesummarizesthestatusof
RSUsasofFebruary2,2013,andchangesduringthe
year then ended:
Shares
Weighted
Average
Grant
Date Fair
Value
NonvestedatJanuary28,2012
2,511,450 $ 22.49
Granted 933,346 48.43
Vested (1,315,755) 20.24
Forfeited (74,868) 31.41
NonvestedatFebruary2,2013
2,054,173 $ 35.37
InconnectionwiththevestingofRSUsin2012,
2011and2010,certainemployeeselectedtoreceive
shares net of minimum statutory tax withholding
amountswhichtotaled$22.1million,$13.2million
and$11.1million,respectively.etotalfairvalue
of the restricted shares vested during the years ended
February2,2013,January28,2012andJanuary29,
2011was$26.6million,$20.9millionand$19.1million,
respectively.
Stock Options
In2012,2011and2010,theCompanygrantedless
than0.1millionservicebasedstockoptionsfromthe
OmnibusPlan,EIP,EOPandtheNEDP,respectively.
All options granted to directors vest immediately and
areexpensedonthegrantdate.During2012,2011and
2010,theCompanyrecognized$1.2million,$1.1million
and$2.3million,respectivelyofexpenserelatedto
service-based stock option grants.
efollowingtablessummarizetheCompany’s
various option plans and information about options
outstandingatFebruary2,2013andchangesduringthe
year then ended.
46 Dollar Tree, Inc.