Huntington National Bank 2009 Annual Report Download - page 178

Huntin
g
ton’s stock option activit
y
and related information for the
y
ear ended December 31, 2009, was a
s
f
o
ll
o
w
s
:
Op
t
i
on
s
We
i
ghted
-
A
vera
g
e
Exercise
P
r
i
c
e
W
e
ig
hted
-
A
verag
e
Remainin
g
C
ontractua
l
Life
(
Years
)
A
gg
re
g
at
e
I
ntrinsic
V
a
l
u
e
(
In thousands, exce
p
t
p
er share amounts
)
Outstandin
g
at January 1, 2009
...............
2
6
,
289 $19.4
5
Granted
..................................
3
,
106 4.2
4
Ex
e
r
cised
.................................
——
For
f
e
i
te
d
/ex
pi
re
d
............................
(5
,673
)
20.4
9
O
utstand
i
n
g
at December 31, 200
9
.............
23
,
722
$
17.21 3.4
$
3
4
Exerc
i
sable at December 31
,
200
9
..............
19
,
218
$
19.71 2.8
$—
The a
gg
re
g
ate intrinsic value represents the amount b
y
which the fair value of underl
y
in
g
stock exceed
s
the “in-the-mone
y
” option exercise price. There were no exercises of stock options for the
y
ears ended
December 31, 2009 or 2008. The total intrinsic value of stock options exercised durin
g
2007 was
$
4.3 million
.
Hunt
i
n
g
ton a
l
so
g
rants restr
i
cte
d
stoc
k
un
i
ts an
d
awar
d
s. Restr
i
cte
d
stoc
k
un
i
ts an
d
awar
d
s are
i
ssue
d
a
t
no cost to t
h
e rec
i
p
i
ent, an
d
can
b
e sett
l
e
d
on
ly i
ns
h
ares at t
h
een
d
o
f
t
h
e vest
i
n
g
per
i
o
d
. Restr
i
cte
d
stoc
k
awards provide the holder with full votin
g
ri
g
hts and cash dividends durin
g
the vestin
g
period. Restricted stoc
k
units do not provide the holder with votin
g
ri
g
hts or cash dividends durin
g
the vestin
g
period and are sub
j
ec
t
to certa
i
n serv
i
ce restr
i
ct
i
ons. T
h
e
f
a
i
rva
l
ue o
f
t
h
e restr
i
cte
d
stoc
k
un
i
ts an
d
awar
d
s
i
st
h
ec
l
os
i
n
g
mar
k
e
t
pr
i
ce o
f
t
h
e Compan
y
’s common stoc
k
on t
h
e
d
ate o
f
awar
d.
T
h
e
f
o
ll
ow
i
n
g
ta
bl
e summar
i
zes t
h
e status o
f
Hunt
i
n
g
ton’s restr
i
cte
d
stoc
k
un
i
ts an
d
restr
i
cte
d
stoc
k
awards as of December 31, 2009, and activit
y
for the
y
ear ended December 31, 2009
:
R
es
tri
c
t
ed
S
toc
k
U
n
i
t
s
We
ig
hted
-
A
vera
g
e
G
rant Dat
e
Fa
i
r
V
alue
p
er
S
har
e
R
es
tr
ic
t
ed
S
toc
k
Awa
r
ds
We
i
ghted
-
Avera
ge
G
rant Date
Fa
i
r
V
alu
e
p
er
S
hare
(
In thousands, exce
p
t
p
er share amounts
)
Nonvested at Januar
y
1, 200
9
................
1
,
823 $14.64 — $ —
G
ranted
.................................
1
,
543 3.81 274 2.93
Veste
d
..................................
(
413
)
21.
6
1
(
100
)
2.0
2
For
f
e
i
te
d
................................
(
23
6)
13.90 —
—
Nonvested at December
31, 2009
.............
2
,
717
$
7.50 174
$
3.45
The wei
g
hted-avera
g
e
g
rant date fair value of nonvested shares
g
ranted for the
y
ears ended December 31
,
2009, 2008 and 2007, were
$
3.68,
$
7.09 and
$
20.67, respectivel
y
. The total fair value of awards vested durin
g
the
y
ears ended December 31, 2009, 2008 and 2007, was
$
1.8 million,
$
0.4 million, and
$
3.5 million,
respectivel
y
. As of December 31, 2009, the total unreco
g
nized compensation cost related to nonvested awards
was
$
9.6 million with a wei
g
hted-avera
g
e expense reco
g
nition period of 1.8
y
ears.
17
0