OG&E 2010 Annual Report Download - page 71

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Stock Aggregate
Number Conversion Intrinsic
(dollars in millions) of Units Ratio (A) Value
Units Outstanding at 12/31/09 38,962 1:1
Granted (B) 14,344 1:1
Converted (6,507) 1:1 $ 0.1
Forfeited (390) 1:1
Employee migration (C) (3,591) 1:1
Units Outstanding at 12/31/10 42,818 1:1 $ 3.0
Units Fully Vested at 12/31/10 9,987 1:1 $ 0.7
(A) One performance unit = one share of OGE Energy’s common stock.
(B) Represents target number of units granted. Actual number of units earned, if any, is dependent upon performance and may range
from 0 percent to 200 percent of the target.
(C) Due to certain employees transferring between OGE Energy and its subsidiaries.
A summary of the activity for OGE Energy’s non-vested performance units applicable to the Company’s employees based
on EPS at December 31, 2010 and changes during 2010 are shown in the following table:
Weighted-Average
Number Grant Date
of Units Fair Value
Units Non-Vested at 12/31/09 32,455 $ 23.22
Granted (D) 14,344 $ 32.44
Vested (9,987) $ 29.22
Forfeited (390) $ 22.33
Employee migration (E) (3,591) $ 23.75
Units Non-Vested at 12/31/10 (F) 32,831 $ 25.37
(D) Represents target number of units granted. Actual number of units earned, if any, is dependent upon performance and may range
from 0 percent to 200 percent of the target.
(E) Due to certain employees transferring between OGE Energy and its subsidiaries.
(F) Of the 32,831 performance units not vested at December 31, 2010, 28,068 performance units are assumed to vest at the end of the
applicable vesting period.
At December 31, 2010, there was $0.4 million in unrecognized compensation cost related to non-vested performance units
based on EPS which is expected to be recognized over a weighted-average period of 1.69 years.
Stock Options
The Company recorded no compensation expense in 2010, 2009 or 2008 as all stock options are fully vested. A summary of
the activity for OGE Energy’s stock options applicable to the Company’s employees at December 31, 2010 and changes during 2010
are shown in the following table:
Aggregate Weighted-Average
Number Weighted-Average Intrinsic Remaining
(dollars in millions) of Options Exercise Price Value Contractual Term
Options Outstanding at 12/31/09 41,544 $ 20.89
Exercised (34,100) $ 20.98 $ 0.6
Employee migration 6,300 $ 21.52
Options Outstanding at 12/31/10 13,744 $ 19.95 $ 0.4 2.34 years
Options Fully Vested and Exercisable at 12/31/10 13,744 $ 19.95 $ 0.4 2.34 years
Restricted Stock
Under the 2008 Stock Incentive Plan and in 2008, 2009 and 2010, OGE Energy issued restricted stock to certain existing
non-officer employees as well as other executives upon hire to attract and retain individuals to be competitive in the marketplace. The
restricted stock vests in one-third annual increments. Prior to vesting, each share of restricted stock is subject to forfeiture if the
recipient ceases to render substantial services to OGE Energy or a subsidiary for any reason other than death, disability or retirement.
These shares may not be sold, assigned, transferred or pledged and are subject to a risk of forfeiture.
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