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SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
granted.AsofJuly3,2015,therewereapproximately40.0millionordinarysharesavailableforissuanceundertheEIP.
SeagateTechnologyplcStockPurchasePlan(the"ESPP").Thereare50.0millionordinarysharesauthorizedtobeissuedundertheESPP.Innoeventshall
thetotalnumberofsharesissuedundertheESPPexceed75.0millionordinaryshares.TheESPPconsistsofasix-monthofferingperiodwithamaximumissuance
of1.5millionordinarysharesperofferingperiod.TheESPPpermitseligibleemployeestopurchaseordinarysharesthroughpayrolldeductionsgenerallyat85%of
thefairmarketvalueoftheordinaryshares.AsofJuly3,2015therewereapproximately8.9millionordinarysharesavailableforissuanceundertheESPP.
LyveMindsInc.2012EquityIncentivePlan(the"LyveMindsPlan").OnOctober19,2012,LyveMindsInc.,amajority-ownedsubsidiaryoftheCompany,
adoptedtheLyveMindsInc.2012EquityIncentivePlan(the"LyveMindsPlan").Amaximumof31.9millionsharesofLyveMinds'commonstockareissuable
undertheLyveMindsPlantoemployees,directors,andconsultantsofLyveMinds.OptionsgrantedtoLyveMindsemployeesgenerallyvestasfollows:25%ofthe
optionsonthefirstanniversaryofthevestingcommencementdateandtheremaining75%proportionatelyeachmonthoverthenext36months.Optionsexpireten
yearsfromthedateofgrant.LyveMinds,Inc.adoptedtheAmendedandRestated2012EquityIncentivePlanonMarch26,2014inconnectionwithLyveMinds'
reincorporationasaDelawarecorporation.ThecompensationexpenseassociatedwithoptionsgrantedtodateundertheLyveMindsPlanwasnotmaterialforfiscal
years2015,2014,and2013,respectively.
EquityAwards
Full-ValueShareAwards(e.g.restrictedshareunits)generallyvestoveraperiodofthreetofouryears,withcliffvestingofaportionofeachawardoccurring
annually.Optionsgenerallyvestasfollows:25%oftheoptionswillvestonthefirstanniversaryofthevestingcommencementdateandtheremaining75%will
vestratablyeachmonththereafteroverthenext36months.OptionsgrantedundertheEIPandSCPhaveanexercisepriceequaltotheclosingpriceofthe
Company'sordinarysharesondateofgrant.
TheCompanygrantedperformanceawardstoitsseniorexecutiveofficersundertheSCPandtheEIPwherevestingissubjecttoboththecontinued
employmentoftheparticipantbytheCompanyandtheachievementofcertainperformancegoalsestablishedbytheCompensationCommitteeoftheCompany's
BoardofDirectors,includingmarketbasedperformancegoals.AsingleawardrepresentstherighttoreceiveasingleordinaryshareoftheCompany.Duringfiscal
years2015,2014and2013,theCompanygranted0.3million,0.4millionand0.7millionperformanceawards,respectively,whereperformanceismeasuredbased
onathree-yearaveragereturnoninvestedcapital(ROIC)goalandarelativetotalshareholderreturn(TSR)goal,whichisbasedontheCompany'sordinaryshares
measuredagainstabenchmarkTSRofapeergroupoverthesamethree-yearperiod(the"TSR/ROIC"awards).Theseawardsvestaftertheendoftheperformance
periodofthreeyearsfromthegrantdate.ApercentageoftheseunitsmayvestonlyifatleasttheminimumROICgoalismetregardlessofwhethertheTSRgoalis
met.Thenumberofstockunitstovestwillrangefrom0%to200%ofthetargetedunits.Inevaluatingthefairvalueoftheseunits,theCompanyusedaMonte
Carlosimulationonthegrantdate,takingthemarket-basedTSRgoalintoconsideration.Compensationexpenserelatedtotheseunitsisonlyrecordedinaperiodif
itisprobablethattheROICgoalwillbemet,anditistoberecordedattheexpectedlevelofachievement.
TheCompanyalsogranted0.4million,0.3millionand0.3millionperformanceawardsduringfiscalyears2015,2014and2013respectively,toitssenior
executiveofficerswhicharesubjecttoaperformancegoalrelatedtotheCompany'sadjustedearningspershare(the"AEPS"awards).Theseawardshavea
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