Nautilus 2014 Annual Report Download - page 56

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RSU Activity
Following is a summary of RSU activity (shares in thousands):
PSU Activity
vest.
In April 2010, we granted PSU awards covering a total of 146,000
shares of our common stock to key members of our executive team. The
PSUs were subject to both time-based vesting (one-third annually over three years
) and achievement of a stock price target of two times the
grant date price. If, over the three-
year period, the stock price did not close at or above two times the grant date price over any 20 of 30
consecutive days, the entire award would have been forfeited. These awards vested in full over the three-year vesting period.
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
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%
.
These awards are expected to vest in full at the 150% maximum achievement, with the exception of any forfeitures.
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
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% .
In February 2014, we granted PSU awards to certain of our executive officers covering a total of 82,494
shares of our common stock. The PSUs
vest based on achievement of goals established for operating income and revenue growth for a three-
year performance period. The number of
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):
49
RSUs
Outstanding
Weighted-
Average
Grant Date Fair
Value per Share
Outstanding at December 31, 2013
139
$
3.58
Granted
29
8.86
Forfeited, canceled or expired
—
—
Vested
(81
)
10.78
Outstanding at December 31, 2014
87
$
5.93
PSUs
Outstanding
Weighted-
Average
Grant Date Fair
Value per Share
Outstanding at December 31, 2013
84
$
3.76
Granted
82
8.22
Forfeited, canceled or expired
—
—
Vested
—
—
Outstanding at December 31, 2014
166
$
5.97