Rayovac 2012 Annual Report Download - page 104

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SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(In thousands, except per share amounts)
The fair value of restricted stock and restricted stock unit awards is determined based on the market price of
the Company’s shares on the grant date. A summary of the Company’s restricted stock and restricted stock unit
award activity for Fiscal 2012 and Fiscal 2011, and the non-vested awards outstanding as of September 30, 2012
is as follows:
Restricted Stock Awards Shares
Weighted
Average
Grant Date
Fair Value
Fair Value at
Grant Date
Restricted stock awards at September 30, 2010 ............... 446 $23.56 $ 10,508
Vested ............................................... (323) 23.32 (7,531)
Restricted stock awards at September 30, 2011 ............... 123 $24.20 $ 2,977
Vested ............................................... (110) 23.75 (2,613)
Restricted stock awards at September 30, 2012 ............... 13 $28.00 $ 364
Restricted Stock Units Shares
Weighted
Average
Grant Date
Fair Value
Fair Value at
Grant Date
Restricted stock units at September 30, 2010 ................ 249 $28.22 $ 7,028
Granted .............................................. 1,674 28.99 48,530
Forfeited ............................................. (43) 29.47 (1,267)
Vested ............................................... (235) 28.23 (6,635)
Restricted stock units at September 30, 2011 ................ 1,645 $28.97 $ 47,656
Granted .............................................. 863 28.28 24,408
Forfeited ............................................. (57) 28.49 (1,624)
Vested ............................................... (520) 29.83 (15,509)
Restricted stock units at September 30, 2012 ................ 1,931 $28.45 $ 54,931
(v) Restructuring and Related Charges
Restructuring charges are recognized and measured in accordance with the provisions of ASC Topic 420: “Exit
or Disposal Cost Obligations,” (“ASC 420”). Under ASC 420, restructuring charges include, but are not limited
to, termination and related costs consisting primarily of one-time termination benefits such as severance costs
and retention bonuses, and contract termination costs consisting primarily of lease termination costs. Related
charges, as defined by the Company, include, but are not limited to, other costs directly associated with exit and
integration activities, including impairment of property and other assets, departmental costs of full-time
incremental integration employees, and any other items related to the exit or integration activities. Costs for such
activities are estimated by management after evaluating detailed analyses of the costs to be incurred. The
Company presents restructuring and related charges on a combined basis. (See also Note 14, Restructuring and
Related Charges, for a more complete discussion of restructuring initiatives and related costs).
(w) Acquisition and Integration Related Charges
Acquisition and integration related charges reflected in Operating expenses include, but are not limited to,
transaction costs such as banking, legal, accounting and other professional fees directly related to both
consummated acquisitions and acquisition targets, termination and related costs for transitional and certain other
94