Sunoco 2012 Annual Report Download - page 97

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amount of cash equal to the per unit cash distributions made by the Partnership during the period the restricted
unit is outstanding. All units granted during the periods presented below included tandem DERs. A portion of
these awards are subject to the Partnership achieving certain market-based and cash distribution performance
targets as compared to a peer group average or certain cash distribution performance targets as defined by the
Compensation Committee, which can cause the actual amount of units that ultimately vest to range between 0 to
200 percent of the original units granted. Restricted unit awards granted prior to October 4, 2012 generally vest
over a three-year period, while the restricted unit awards granted during the period from October 5, 2012 to
December 31, 2012 generally vest over a five-year period.
The following table summarizes information regarding restricted unit award activity for the periods presented:
Number
of Units
Weighted
Average
Grant
Date Fair
Value
Predecessor
Granted, non-vested and outstanding, December 31, 2009 .... 467,985 $19.13
Granted(1) ....................................... 272,427 $24.87
Performance factor adjustment ...................... 131,760 $17.65
Vested ......................................... (326,130) $14.41
Cancelled/forfeited ............................... (101,949) $20.92
Granted, non-vested and outstanding, December 31, 2010 .... 444,093 $22.59
Granted(1) ....................................... 189,714 $31.13
Performance factor adjustment ...................... 184,113 $19.88
Vested ......................................... (413,934) $20.05
Cancelled/forfeited ............................... (23,010) $27.66
Granted, non-vested and outstanding, December 31, 2011 .... 380,976 $27.86
Granted(1) ....................................... 192,459 $35.92
Performance factor adjustment ...................... 137,941 $25.24
Vested ......................................... (47,916) $30.16
Cancelled/forfeited ............................... (20,409) $31.47
Granted, non-vested and outstanding, October 4, 2012 ....... 643,051 $29.42
Successor
Granted, non-vested and outstanding, October 5, 2012 ....... 643,051 $29.42
Granted ........................................ 128,573 $50.55
Performance factor adjustment ...................... 12,554 $31.51
Vested(2) ....................................... (356,568) $25.67
Cancelled/forfeited ............................... — $ —
Granted, non-vested and outstanding, December 31, 2012 ...... 427,610 $38.96
(1) Of the total number of restricted units granted, the portion that represents units that are subject to
performance factors may ultimately be issued at 0 to 200 percent of the original grant, based on the
Partnership’s achievement of performance goals for total shareholder return and cash distributions relative
to a selected peer group of competitors.
(2) Relates primarily to awards that vested as a result of the acquisition of the general partner by ETP (Note 1).
The unit-based compensation expense attributable to these awards that was recognized during the period
from October 5, 2012 to December 31, 2012 was not material as the majority of such awards were
scheduled to vest in December 2012.
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