Snapple 2009 Annual Report Download - page 127

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A summary of the status of the Company’s nonvested options as of December 31, 2009 and changes during the
year ended December 31, 2009 is presented below:
Stock Options
Weighted-Average
Grant-Date Fair Value
Nonvested at January 1, 2009 ....................... 1,159,619 $ 7.36
Granted ...................................... 1,242,494 $ 3.57
Vested ....................................... (375,111) $ 7.28
Forfeited or expired ............................. (186,610) $ 5.97
Nonvested at December 31, 2009..................... 1,840,392 $ 4.96
As of December 31, 2009, there was $6 million of unrecognized compensation costs related to the nonvested
stock options granted under the Plan. That cost is expected to be recognized over a weighted-average period of
1.74 years.
Restricted Stock Units
The tables below summarize information about the restricted stock units granted during the year ended
December 31, 2009. The fair value of restricted stock units is determined based on the number of units granted and
the grant date price of common stock.
A summary of the Company’s restricted stock activity for the year ended December 31, 2009 is as follows:
Restricted Stock Units
Weighted Average
Grant-Date Fair Value
Number outstanding at January 1, 2009 ............. 1,028,609 $ 24.83
Granted . .................................... 1,909,601 $ 13.78
Vested and released ............................ (81,056) $ 24.96
Forfeited or expired ............................ (168,603) $ 18.12
Outstanding at December 31, 2009 ................. 2,688,551 $ 17.43
The following table summarizes information about restricted stock units outstanding as of December 31, 2009
(in millions except per share and share data):
Range of Grant-Date Fair Values Per Share
Number
Outstanding
Weighted Average
Remaining
Contractual Term (years) Aggregate Intrinsic Value
$13.48 - $25.36 2,688,551 1.91 $ 76
As of December 31, 2009, there was $29 million of unrecognized compensation costs related to nonvested
restricted stock units granted under the Plan. That cost is expected to be recognized over a weighted-average period
of 1.87 years.
Modifications of Share-Based Awards
On October 26, 2009, the Company’s Compensation Committee approved a letter agreement between the
Company and an officer of the Company regarding his early retirement and separation from the Company. Under
the terms of the letter agreement, the vesting of a portion of the officer’s remaining unvested stock options and
restricted stock units granted under the 2008 Stock Plan will accelerate and fully vest on March 31, 2010, subject to
performance conditions. There was no incremental compensation cost associated with the modification.
107
DR PEPPER SNAPPLE GROUP, INC.
NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)