SanDisk 2014 Annual Report Download - page 179
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SANDISK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Restricted Stock Units. RSUs are settled in shares of the Company’s common stock upon vesting on a
one-for-one basis. Typically, vesting of RSUs is subject to the employee’s continuing service to the
Company. The cost of these awards is determined using the fair value of the Company’s common stock on
the date of grant, and compensation is recognized on a straight-line basis over the requisite vesting period.
A summary of the changes in RSUs outstanding under the Company’s share-based compensation
plans during the three fiscal years ended December 28, 2014 is presented below (in thousands, except for
weighted-average grant date fair value):
Weighted-
Average Grant Aggregate
Shares Date Fair Value Intrinsic Value
Non-vested share units as of January 1, 2012 .............. 2,051 $ 40.22 $ 100,913
Granted ................................... 1,840 45.04
Vested .................................... (646) 47.75 29,479
Forfeited ................................... (227) 42.85
Assumed through acquisition ..................... 59 46.63
Non-vested share units as of December 30, 2012 ........... 3,077 43.51 131,622
Granted ................................... 2,665 53.99
Vested .................................... (950) 41.97 50,268
Forfeited ................................... (338) 46.93
Non-vested share units as of December 29, 2013 ........... 4,454 49.87 221,457
Granted ................................... 2,888 81.62
Vested .................................... (1,594) 51.19 129,945
Forfeited ................................... (606) 70.81
Assumed through acquisition ..................... 445 94.35
Non-vested share units as of December 28, 2014 ........ 5,587 67.18 375,366
As of December 28, 2014, the total unrecognized compensation cost related to RSUs, net of estimated
forfeitures, was approximately $244.8 million, and this amount is expected to be recognized over a
weighted-average period of approximately 2.6 years.
Employee Stock Purchase Plan. As of December 28, 2014, the total unrecognized compensation cost
related to ESPP was approximately $1.5 million, and this amount is expected to be recognized over a
period of two months.
F-39
Annual Report