Logitech 2014 Annual Report Download - page 262

LOGITECH INTERNATIONAL S.A.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
The following table summarizes total unamortized share-based compensation expense and the remaining
months over which such expense is expected to be recognized, on a weighted-average basis by type of grant (in
thousands, except number of months):
March 31, 2014
Unamortized
Expense
Remaining
Months
Stock options and ESPP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 980 17
Premium-priced stock options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 789 19
Market-based stock options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,304 9
Time-based RSUs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37,379 22
Market-based RSUs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,901 27
$45,353
Under the 1996 ESPP and 2006 ESPP plans, eligible employees may purchase shares at the lower of 85% of the
fair market value at the beginning or the end of each six-month offering period. Subject to continued participation
in these plans, purchase agreements are automatically executed at the end of each offering period. An aggregate of
29,000,000 shares was reserved for issuance under the 1996 and 2006 ESPP plans. As of March 31, 2014, a total of
8,266,700 shares were available for issuance under these plans.
The 2006 Plan provides for the grant to eligible employees and non- employee directors of stock options,
stock appreciation rights, restricted stock and RSUs. Awards under the 2006 Plan may be conditioned on continued
employment, the passage of time or the satisfaction of performance vesting criteria. The 2006 Stock Plan has
an expiration date of June 16, 2016. Stock options granted under the 2006 Plan generally vest over three years
for non- executive Directors and over four years for employees. All stock options under this plan have terms
not exceeding ten years and are issued at exercise prices not less than the fair market value on the date of grant.
Premium-priced stock options granted to executives under the 2006 Plan vest only when performance criteria is
met as determined by a third party vendor. Time-based RSUs granted to employees under the 2006 Plan generally
vest in four equal annual installments on the grant date anniversary. Time-based RSUs granted to non-executive
board members under the 2006 Plan vest in one annual installment on the grant date anniversary. Market-based
options and RSUs granted under the 2006 Plan vest at the end of the performance period upon meeting certain share
price performance criteria measured against market conditions. The performance period is four years for market-
based options granted in fiscal year 2013. The performance period is three years for market-based RSU grants
made in fiscal years 2014, 2013 and 2012. An aggregate of 24,800,000 shares was reserved for issuance under the
2006 Plan. As of March 31, 2014, a total of 9,136,223 shares were available for issuance under this plan.
Under the 2012 Stock Inducement Equity Plan, stock options and RSUs may be granted to eligible employees
to serve as inducement material to enter into employment with the Company. Awards under the 2012 Stock
Inducement Equity Plan may be conditioned on continued employment, the passage of time or the satisfaction of
performance vesting criteria, based on individual written employment offer letter. The 2012 Stock Inducement
Equity Plan has an expiration date of March 28, 2022. An aggregate of 1,800,000 shares was reserved for issuance
under the 2012 Stock Inducement Equity Plan. As of March 31, 2014, no shares were available for issuance under
this plan.
Note 5 — Employee Benefit Plans (Continued)
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