Northrop Grumman 2010 Annual Report Download - page 114

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Stock award activity for the years ended December 31, 2010, 2009, and 2008, is presented in the table below.
Vested awards include stock awards fully vested during the year and net adjustments to reflect the final
performance measure for issued shares.
Stock
Awards
(in thousands)
Weighted-Average
Grant Date
Fair Value
Weighted-Average
Remaining
Contractual Term
Outstanding at January 1, 2008 5,144 $67 1.3 years
Granted 1,505 80
Vested (2,950) 64
Forfeited (423) 65
Outstanding at December 31, 2008 3,276 $75 1.4 years
Granted 2,356 45
Vested (1,645) 71
Forfeited (329) 66
Outstanding at December 31, 2009 3,658 $58 1.6 years
Granted 2,317 60
Vested (1,319) 79
Forfeited (356) 56
Outstanding at December 31, 2010 4,300 $53 1.5 years
Available for grant at December 31, 2010 2,110
The company issued 1.3 million, 2.5 million, and 2.9 million shares to employees in settlement of prior year
stock awards that were fully vested, which had total fair values at issuance of $76 million, $111 million, and
$233 million and grant date fair values of $91 million, $161 million, and $155 million during the years ended
December 31, 2010, 2009, and 2008, respectively. The differences between the fair values at issuance and the
grant date fair values reflect the effects of the performance adjustments and changes in the fair market value of
the company’s common stock.
In 2011, the company expects to issue to employees 1.3 million shares of common stock that vested as of
December 31, 2010, with a grant date fair value of $101 million.
-104-
NORTHROP GRUMMAN CORPORATION