Nautilus 2013 Annual Report Download - page 55

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In February and August 2012, we granted PSU awards to certain executive officers covering a total of 82,000
shares of our common stock. The
PSUs vest based on achievement of certain operating income and return on asset goals established for a three-
year performance period. The
number of PSUs that ultimately vest following conclusion of the performance period will be determined based on the level at which the financial
goals are achieved. The number of PSUs that vest can range from 60% of the PSUs if minimum thresholds are achieved to a maximum of 150%
.
In May 2013, we granted PSU awards to certain of our executive officers covering a total of 24,500
shares of our common stock. The PSUs vest
based on achievement of certain operating income and return on asset goals established for a three-
year performance period. The number of
shares vesting under the PSU awards following conclusion of the performance period will be determined based on the level at which the
financial goals are achieved. The number of shares vesting can range from 60%
of the PSU awards if minimum thresholds are achieved to a
maximum of 150% .
Following is a summary of PSU activity (shares in thousands):
Stock
-Based Compensation
We receive income tax deductions as a result of the exercise of certain stock options and vesting of RSUs and PSUs. Stock-
based compensation
expense, primarily included in general and administrative expense, was as follows (in thousands):
Certain other information regarding our stock-based compensation was as follows (in thousands, except per share amounts):
As of December 31, 2013 , unrecognized compensation expense for outstanding, but unvested stock-based awards was $0.5 million , which is
expected to be recognized over a weighted average period of 1.5 years.
48
PSUs
Outstanding
Weighted-
Average
Grant Date Fair
Value per Share
Outstanding at December 31, 2012
132
$
2.59
Granted
25
6.62
Forfeited, canceled or expired
(17
)
3.56
Vested
(56
)
2.32
Outstanding at December 31, 2013
84
3.76
Year Ended December 31,
2013
2012
2011
Stock options
$
337
$
355
$
26
Restricted stock units
54
188
150
Performance stock units
63
87
130
$
454
$
630
$
306
Year Ended December 31,
2013
2012
2011
Weighted average grant-date per share fair value of stock options granted
$
4.37
$
1.89
$
1.86
Total intrinsic value of stock options exercised
451
33
2
Fair value of RSUs vested
545
405
—
Fair value of PSUs vested
386
—
—