KeyBank 2013 Annual Report Download - page 204

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Other Restricted Stock Awards
We also may grant, upon approval by the Compensation and Organization Committee (or our Chief Executive
Officer with respect to her designated authority), other time-lapsed restricted stock or unit awards under various
programs to recognize outstanding performance.
The following table summarizes activity and pricing information for the nonvested shares granted under these
restricted stock or unit awards for the year ended December 31, 2013.
Number of
Nonvested
Shares
Weighted-Average
Grant-Date
Fair Value
Outstanding at December 31, 2012 2,716,654 $ 7.84
Granted 261,679 9.33
Vested (1,588,427) 7.51
Forfeited (23,436) 8.55
Outstanding at December 31, 2013 1,366,470 $ 8.48
The weighted-average grant-date fair value of awards granted was $9.33 during 2013, $7.98 during 2012, and
$9.25 during 2011. As of December 31, 2013, unrecognized compensation cost related to nonvested restricted
stock or units expected to vest under these special awards totaled $4 million. We expect to recognize this cost
over a weighted-average period of 2.4 years. The total fair value of restricted stock or units vested was $12
million during 2013, $14 million during 2012, and $29 million during 2011.
Deferred Compensation Plans
Our deferred compensation arrangements include voluntary and mandatory deferral programs for common shares
awarded to certain employees and directors. Mandatory deferred incentive awards vest at the rate of 25% per
year beginning one year after the deferral date for awards granted in 2012 and after, and 33-1/3% per year
beginning one year after the deferral date for awards granted prior to 2012. Deferrals under the voluntary
programs are immediately vested.
Several of our deferred compensation arrangements allow participants to redirect deferrals from common shares
into other investments that provide for distributions payable in cash. We account for these participant-directed
deferred compensation arrangements as stock-based liabilities and re-measure the related compensation cost
based on the most recent fair value of our common shares. The compensation cost of all other nonparticipant-
directed deferrals is measured based on the closing price of our common shares on the deferral date. We did not
pay any stock-based liabilities during 2013, 2012, or 2011.
The following table summarizes activity and pricing information for the nonvested shares in our deferred
compensation plans for the year ended December 31, 2013.
Number of
Nonvested
Shares
Weighted-Average
Grant-Date
Fair Value
Outstanding at December 31, 2012 1,195,849 $ 7.00
Granted 774,028 11.18
Dividend equivalents 53,213 11.18
Vested (661,372) 8.48
Forfeited (17,620) 7.94
Outstanding at December 31, 2013 1,344,098 $ 9.06
The weighted-average grant-date fair value of awards granted was $11.18 during 2013, $6.63 during 2012, and
$8.03 during 2011. As of December 31, 2013, unrecognized compensation cost related to nonvested shares
expected to vest under our deferred compensation plans totaled $6 million. We expect to recognize this cost over
189