Dollar Tree 2014 Annual Report Download - page 75

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59
shorter period based on the retirement eligibility of the grantee. The Company recognized $1.0 million of expense related to
these RSUs in 2014. The estimated fair value of these RSUs was determined using the Company's closing stock price on the
grant date.
In 2013, the Company granted RSUs with an estimated fair value of $1.7 million from the Omnibus Plan to certain officers
of the Company. Each officer 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 February 3, 2013 and ending on January 30, 2016. Providing the vesting conditions are satisfied, the awards will vest at the
end of the performance period. The estimated value is being expensed over the performance period or a shorter period based
on the retirement eligibility of the grantee. The Company recognized $0.4 million and $1.0 million of expense related to these
RSUs in 2014 and 2013. The estimated 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 fair value of $1.7 million from the Omnibus Plan to certain officers
of the Company. Each officer had 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. The estimated fair value was being expensed over the performance
period or a shorter period based on the retirement eligibility of the grantee. The Company recognized $0.2 million, $0.2
million and $1.0 million of expense related on these RSUs in 2014, 2013 and 2012, respectively. The estimated fair 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 Officer 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 five-year service requirement. The fair value of
these RSUs is being expensed ratably over the five-year vesting period. The Company recognized $2.0 million, $2.0 million
and $1.3 million of expense related to these RSUs in 2014, 2013 and 2012. The fair value of these RSUs was determined
using the Company's closing stock price on the grant date.
The following table summarizes the status of RSUs as of January 31, 2015, and changes during the year then ended:
Shares
Weighted
Average
Grant
Date Fair
Valu e
Nonvested at February 1, 2014 1,723,634 $ 41.64
Granted 751,606 52.52
Vested (798,015) 39.91
Forfeited (93,945) 48.38
Nonvested at January 31, 2015 1,583,280 $ 48.48
In connection with the vesting of RSUs in 2014, 2013 and 2012, certain employees elected to receive shares net of
minimum statutory tax withholding amounts which totaled $15.8 million, $18.6 million and $22.1 million, respectively. The
total fair value of the restricted shares vested during the years ended January 31, 2015, February 1, 2014 and February 2, 2013
was $31.8 million, $29.7 million and $26.6 million, respectively.