Jack In The Box 2010 Annual Report Download - page 70

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Table of Contents


$0.6 million, $0.7 million and $0.9 million, respectively. In 2010, 2009 and 2008, the total grant date fair value of shares issued
was $0.7 million, $1.0 million and $2.0 million, respectively.
Nonvested stock awards We generally issued nonvested stock awards (“RSAs”) to certain executives under our share ownership
guidelines. Effective February 2008, we no longer issue these awards which have been replaced by grants of nonvested stock units.
Our RSAs vest, subject to the discretion of our Board of Directors in certain circumstances, upon retirement or termination based
upon years of service or ratably over a three-year period for non-ownership grants as provided in the award agreements. These
awards are amortized to compensation expense over the estimated vesting period based upon the fair value of our common stock on
the award date.
The following is a summary of RSA activity for fiscal 2010:



 
Nonvested stock awards outstanding at September 27, 2009 426,285 $ 15.04
Released (31,168) 17.75
Nonvested stock awards outstanding at October 3, 2010 395,117 $ 14.82
Vested at October 3, 2010 104,645 $ 12.19
As of October 3, 2010, there was approximately $2.7 million of total unrecognized compensation cost related to RSAs, which is
expected to be recognized over a weighted-average period of 5.4 years. During 2008, we granted 64,545 shares of RSAs with a grant
date fair value of $26.35. No shares of RSAs were granted in 2010 or 2009. The total fair value of RSAs that vested was
$0.2 million during 2010 and 2009 and $0.4 million during 2008. In 2010, 2009 and 2008, the total grant date fair value of shares
released was $0.6 million, $1.3 million and $0.04 million, respectively.
Nonvested stock units In February 2009, the Board of Directors approved the issuance of a new type of stock award, nonvested
stock units (“RSUs”). RSUs replace RSAs previously issued to certain executives under our share ownership guidelines and annual
option grants previously granted to our non-management directors. Our RSUs vest, subject to the discretion of our Board of
Directors in certain circumstances, upon retirement or termination based upon years of service. No such units were vested as of
October 3, 2010. These awards are amortized to compensation expense over the estimated vesting period based upon the fair value of
our common stock on the award date.
The following is a summary of RSU activity for fiscal 2010:



 
Nonvested stock units outstanding at September 27, 2009 61,854 $ 21.46
Granted 96,949 21.05
Released (5,000) 20.07
Nonvested stock units outstanding at October 3, 2010 153,803 $ 21.25
As of October 3, 2010, there was approximately $1.5 million of total unrecognized compensation cost related to RSUs, which is
expected to be recognized over a weighted-average period of 7.0 years. During 2009, we granted 61,854 shares of RSUs with a grant
date fair value of $21.46. The total fair value of RSUs that vested and were released during 2010 was $0.1 million. No such awards
vested or were released in 2009.
Non-management directors’ deferred compensation All awards outstanding under our directors’ deferred compensation plan
are accounted for as equity-based awards and deferred amounts are converted into stock
F-30