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TABLE OF CONTENTS
JAMBA, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE FISCAL YEARS ENDED DECEMBER 31, 2013, JANUARY 1, 2013 AND
JANUARY 3, 2012
12. SHARE-BASED COMPENSATION – (continued)
Restricted Stock — Information regarding activities during fiscal 2013 and fiscal 2012 for outstanding RSUs granted under the 2006
and 2013 Plans is as follows (shares in thousands):
Number of shares
of RSUs
Weighted-Average
Grant Date Fair
Value (per share)
RSUs outstanding as of January 3, 2012 10 $ 8.95
RSUs granted 145 $ 12.30
RSUs forfeited (canceled) (3) $ 12.70
RSU vested (37) $ 11.19
RSUs outstanding as of January 1, 2013 115 $ 15.16
RSUs granted 190 $ 10.17
RSUs forfeited (canceled) (33) $ 13.25
RSU vested (63) $ 13.63
RSUs outstanding as of December 31, 2013 209 $ 11.39
On August 8, 2013, the Company granted 130,000 RSUs to participants in its 2012 Management Incentive Plan at grant date fair value
of $13.49. The RSUs vest over three years. Share-based compensation expense is recognized ratably over the vesting periods. In August 6,
2012, the Company granted 106,500 RSUs to participants in its 2012 Management Incentive Plan at grant date fair value of $12.70. These
RSUs vest over three years. The aggregate grant date fair value of the RSUs granted during the year ended December 31, 2013 was $2.5
million. The aggregate intrinsic value of RSUs outstanding as of December 31, 2013, was $2.4 million.
Information regarding activities during fiscal 2013 and fiscal 2012 for outstanding performance stock units (“PSUs”) under the 2006
and 2013 Plans is as follows (shares in thousands):
Number of shares
of PSUs
Weighted-Average
Grant Date Fair
Value (per share)
PSUs outstanding as of January 1, 2013 68 $ 12.70
PSUs granted 84 $ 13.49
PSUs forfeited (canceled) (23) $ 13.19
PSUs vested (22) $ 12.88
PSUs outstanding as of December 31, 2013 107 $ 13.18
On August 8, 2013, the Company issued 84,000 performance stock units (“PSUs”). These PSUs are RSUs with performance
requirements based on external performance criteria, and were granted to Plan participants at the levels of Vice President and above. These
PSUs vesting schedule is based on the Company’s total shareholder return (“TSR”), relative to a defined group of peer companies over a
three-year performance period. The Company records expenses related to the PSUs with criteria based on market performance by
recognizing grant date fair value over the service period. Fair value was determined using Monte Carlo Simulation Analysis which
incorporated the Company’s TSR relative to the defined peer group at the end of each of the three years of performance.
In August 2012, the Company granted 70,500 PSUs to plan participants at the levels of Vice President and above. The PSUs vest over
three years from the date when the performance criteria were satisfied. The PSUs granted in fiscal 2012 had performance criteria that
required the Company to achieve predetermined EBITDA targets for the second half of fiscal 2012 and the first half of fiscal 2013. The
Company records
F-22