Health Net 2015 Annual Report Download - page 204

HEALTH NET, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
F-43
The following table presents the number of stock options, RSUs and PSUs granted during the years ended
December 31:
2015 2014 2013
Options granted................................................ ———
RSUs and PSUs granted .................................. 701,069 881,338 1,143,881
A summary of RSU and PSU activity under our various plans as of December 31, 2015, and changes during the
year then ended is presented below:
Number of
Restricted
Stock Units
and
Performance
Share Units
Weighted
Average
Grant-Date
Fair Value
Weighted
Average
Purchase
Price
Weighted Average
Remaining
Contractual Term
(Years)
Aggregate
Intrinsic Value
Outstanding at January 1, 2015 ........... 1,724,295 $ 30.82 $—
Granted ................................................ 701,069 57.98 —
Vested.................................................. (807,626) 31.36 —
Forfeited .............................................. (68,002) 31.26 —
Outstanding at December 31, 2015 ..... 1,549,736 $ 42.80 — 0.81 $106,094,927
Expected to vest at December 31,
2015 (reflecting estimated forfeiture
rates effective in 2015)........................ 1,474,095 $ 42.77 $— 0.85 $100,916,537
The fair values of RSUs and PSUs are determined based on the market value of the underlying shares of common
stock on the date of grant.
The weighted-average grant-date fair values and aggregate intrinsic values of RSUs and PSUs vested during the
years ended December 31, are as follows:
2015 2014 2013
Weighted-average grant-date fair values of RSUs and PSUs vested....... $ 31.36 $ 29.68 $ 29.43
Aggregate intrinsic value of RSUs and PSUs vested (in millions) ......... $ 45.9 $ 30.5 $ 18.5
Share-based compensation expense recorded for the years ended December 31, is as follows:
2015 2014 2013
(Amounts in thousands)
Compensation expense - options....................................................... $ 28 $ 574 $ 3,711
Compensation expense - RSUs and PSUs......................................... $ 29,424 $ 27,759 $ 26,219
As of December 31, 2015, the remaining unrecognized compensation costs and the respective weighted-average
recognition periods are as follows:
Non-vested Options Non-vested RSUs & PSUs
Remaining unrecognized compensation cost (in millions)...................... $ — $ 41.4
Remaining weighted-average period (in years)....................................... 0 0.99