Pepsi 2014 Annual Report Download - page 113

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93
Our PEPunit Activity
PEPunits(a)
Average
Intrinsic
Value(b)
Average
Life
(years)(c)
Aggregate
Intrinsic
Value(d)
Outstanding at December 28, 2013 675 $ 66.65
Granted(e) 387 $ 50.95
Converted — $ —
Forfeited (109) $ 59.85
Outstanding at December 27, 2014(f) 953 $ 61.04 1.24 $ 92,451
Expected to vest as of December 27, 2014 843 $ 60.97 1.21 $ 81,770
(a) PEPunits are in thousands.
(b) Weighted-average intrinsic value at grant date.
(c) Weighted-average contractual life remaining.
(d) In thousands.
(e) Grant activity for all PEPunits are disclosed at target.
(f) The outstanding PEPunits for which the performance period has not ended as of December 27, 2014, at the threshold, target and maximum
award levels were zero, 1.0 million and 1.7 million, respectively.
Other Stock-Based Compensation Data
2014 2013 2012
Stock Options
Total number of options granted(a) 3,416 2,868 3,696
Weighted-average fair value of options granted $ 8.79 $ 8.14 $ 6.86
Total intrinsic value of options exercised(a) $ 423,251 $ 471,475 $ 512,636
Total fair value of options vested(a) $ 42,353 $ 88,750 $ 148,835
RSUs/PSUs
Total number of RSUs/PSUs granted(a) 4,379 4,231 4,404
Weighted-average intrinsic value of RSUs/PSUs granted $ 80.39 $ 76.30 $ 66.64
Total intrinsic value of RSUs/PSUs converted(a) $ 319,820 $ 294,065 $ 236,575
Total fair value of RSUs/PSUs vested(a) $ 241,836 $ 236,688 $ 188,723
PEPunits
Total number of PEPunits granted(a) 387 355 410
Weighted-average intrinsic value of PEPunits granted $ 50.95 $ 68.48 $ 64.85
Total intrinsic value of PEPunits converted(a) $ — $ 3,868 $ —
Total fair value of PEPunits vested(a) $ 5,072 $ 5,896 $ —
(a) In thousands.
As of December 27, 2014 and December 28, 2013, there were approximately 324,000 and 290,000
outstanding awards, respectively, consisting primarily of phantom stock units that were granted under the
PepsiCo Director Deferral Program and will be settled in shares of PepsiCo common stock pursuant to the
LTIP at the end of the applicable deferral period, not included in the tables above.
As of December 27, 2014, there was $382 million of total unrecognized compensation cost related to
nonvested share-based compensation grants. This unrecognized compensation cost is expected to be
recognized over a weighted-average period of two years.