First Data 2014 Annual Report Download - page 81
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approximately one year with the remainder recognized upon the occurrence of certain liquidity or employment termination events.
During 2014, 2013, and 2012, the Company paid $5 million, $6 million, and $2 million, respectively, to repurchase stock awards from employees that
terminated employment with the Company.
A summary of FDH restricted stock award and restricted stock unit activity for the year ended December 31, 2014 is as follows:
Non-vested as of January 1, 2014
16.9
$ 3.18
Granted
37.2
$ 4.00
Vested
(3.8)
$ 3.18
Cancelled / Forfeited
(3.8)
$ 3.81
Non-vested as of December 31, 2014
46.5
$ 3.79
The total fair value of shares vested (measured as of the date of vesting) during the twelve months ended December 31, 2014, 2013, and 2012 was $15
million, $18 million, and $3 million, respectively.
FDC maintains defined contribution savings plans covering virtually all of the Company’s U.S. employees and defined contribution pension plans for
international employees primarily in the United Kingdom and Australia. The plans provide tax-deferred amounts for each participant, consisting of employee
elective contributions, Company matching and discretionary Company contributions. As of January 1, 2014, the Company suspended matching
contributions for all U.S. participants. As a result, the U.S. Plan is no longer a safe harbor plan.
The following table presents the aggregate amounts charged to expense in connection with these plans:
2014 $ 14.8
2013 45.5
2012 45.2
The Company has defined benefit pension plans which are frozen and covers certain full-time employees in the United Kingdom and the U.S. The Company
also has separate plans covering certain employees located primarily in Germany, Greece, and Austria.
The Company uses December 31 as the measurement date for its plans.
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