Seagate 2015 Annual Report Download - page 108

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TableofContents
SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
Thiscostisbeingamortizedonastraight-linebasisoveraweighted-averageremainingtermof2.4yearsandwillbeadjustedforsubsequentchangesinestimated
forfeitures.Theaggregatefairvalueofnonvestedawardsvestedduringfiscalyear2016wasapproximately$102million.
PerformanceAwards
Thefollowingisasummaryofnonvestedawardactivitieswhichcontainaperformancecondition:
AtJuly1,2016,thetotalcompensationcostrelatedtoperformanceawardsgrantedtoemployeesbutnotyetrecognizedwasapproximately$23million.This
costisbeingamortizedonastraight-linebasisoveraweighted-averageremainingtermof3.5years.
ESPP
Duringfiscalyears2016,2015and2014,theaggregateintrinsicvalueofsharespurchasedundertheCompany'sESPPwasapproximately$12million,
$15millionand$26millionrespectively.AtJuly1,2016,thetotalcompensationcostrelatedtooptionstopurchasetheCompany'sordinarysharesundertheESPP
butnotyetrecognizedwasapproximately$1.7million.Thiscostwillbeamortizedonastraight-linebasisoveraweighted-averageperiodofapproximatelyone
month.Duringfiscalyear2016,theCompanyissued2.1millionordinaryshareswithaweighted-averagepurchasepriceof$31.54pershare.
Tax-DeferredSavingsPlan
TheCompanyhasatax-deferredsavingsplan,theSeagate401(k)Plan(the"40l(k)plan"),forthebenefitofqualifiedemployees.The40l(k)planisdesigned
toprovideemployeeswithanaccumulationoffundsatretirement.Qualifiedemployeesmayelecttomakecontributionstothe401(k)planonabi-weeklybasis.
Pursuanttothe401(k)plan,theCompanymatches50%ofemployeecontributions,upto6%ofcompensation,subjecttomaximumannualcontributionsof$4,500
perparticipatingemployee.Duringfiscalyears2016,2015,and2014,theCompanymadematchingcontributionsof$19million,$18millionand$16million,
respectively.
DeferredCompensationPlan
OnJanuary1,2001,theCompanyadoptedtheSDCPforthebenefitofeligibleemployees.Thisplanisdesignedtopermitcertaindiscretionaryemployer
contributions,inexcessofthetaxlimitsapplicabletothe401(k)planandtopermitemployeedeferralsinexcessofcertaintaxlimits.Inthequarterended
December27,2013,theCompanyenteredintoaTRSinordertomanagetheequitymarketrisksassociatedwiththeSDCPliabilities.See"Note8.Derivative
FinancialInstruments"containedinthisreportforadditionalinformationabouttheTRS.
105
PerformanceAwards
Numberof
Shares
Weighted-
Average
Grant-
Date
FairValue
 (Inmillions)  
PerformanceunitsatJuly3,2015   2.1 $ 61.12
Granted   0.6 $ 45.68
Forfeitures (0.2) $ 53.99
Vested (1.1) $ 27.05
PerformanceunitsatJuly1,2016   1.4 $ 47.41