Sprouts Farmers Market 2015 Annual Report Download - page 97

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89
granted an aggregate of 108,980 RSUs with a grant date fair value of $39.01. The options vest ratably
over a period of 12 quarters (three years) and the RSUs vest either one-third each year for three years or
one-half each year for two years. The options expire seven years from grant date.
On May 19, 2014, under the 2013 Incentive Plan, the Company granted to a team member and to
independent members of the Company’s board of directors time-based options to purchase an aggregate
of 37,047 shares of common stock at an exercise price of $28.50 per share, with a grant date fair value of
$8.07. The Company also granted to this team member 2,174 RSUs with a grant date fair value of $28.50
per share. The options vest ratably over a period of 12 quarters (three years) and the RSUs vest either
one-third each year for three years. The options expire seven years from grant date.
On March 11, 2015, under the 2013 Incentive Plan, the Company granted to certain officers and
team members time-based options to purchase an aggregate of 277,833 shares of common stock at an
exercise price of $34.33 per share, with a grant date fair value of $9.42 per share. The Company also
granted an aggregate of 87,394 RSUs with a grant date fair value of $34.33 per share, and 71,753 PSAs
(as described below) with a grant date fair value of $34.33 per share. The options vest ratably over a
period of 12 quarters (three years) and the RSUs vest one-third each year for three years. The options
expire seven years from grant date.
On May 21, 2015, under the 2013 Incentive Plan, the Company granted to independent members of
its board of directors time-based options to purchase an aggregate of 14,492 shares of common stock at
an exercise price of $30.30 per share, with a grant date fair value of $8.28. The Company also granted to
the independent directors an aggregate of 3,896 RSUs with a grant date fair value of $30.30. The options
vest ratably over a period of 12 quarters (three years) and the RSUs vest either one-third each year for
three years or one-half each year for two years. The options expire seven years from grant date.
On August 11, 2015, under the 2013 Incentive Plan, the Company granted to an independent
member of its board of directors and certain officers and team members time-based options to purchase
an aggregate of 2,138,899 shares of common stock at an exercise price of $20.98 per share, with a grant
date fair value of $5.79 per share. The Company also granted an aggregate of 5,660 RSUs with a grant
date fair value of $20.98 per share. The options vest ratably over a period of 12 quarters (three years)
and the RSUs vest either one-third each year for three years or one-half each year for two years. The
options expire seven years from grant date.
On November 10, 2015, under the 2013 Incentive Plan, the Company granted to an independent
member of its board of directors time-based options to purchase 4,431 shares of common stock at an
exercise price of $23.26 per share, with a grant date fair value of $6.77 per share. The Company also
granted to this independent director an aggregate of 1,370 RSUs with a grant date fair value of $23.26.
The options vest ratably over a period of 12 quarters (three years) and the RSUs vest one-third each year
for three years. The options expire seven years from grant date.
The aggregate number of shares of common stock that may be issued to team members and
directors under the 2013 Incentive Plan may not exceed 10,089,072. Shares subject to awards granted
under the 2013 Incentive Plan which are subsequently forfeited, expire unexercised or are otherwise not
issued will not be treated as having been issued for purposes of the share limitation. As of January 3,
2016, 6,727,450 shares of common stock are reserved for issuance under the 2013 Incentive Plan.
2011 Option Plan
In May 2011, the Company adopted the Sprouts Farmers Markets, LLC Option Plan (the “2011
Option Plan”) to provide team members or directors of the Company with options to acquire shares of the
Company. The Company had authorized 12,100,000 shares for issuance under the 2011 Option Plan.
Options may no longer be issued under the 2011 Option Plan.