Supercuts 2010 Annual Report Download - page 136
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Table of Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
15. SHAREHOLDERS' EQUITY (Continued)
A rollforward of RSAs, RSUs and SARs outstanding, as well as other relevant terms of the awards, were as follows:
Outstanding and unvested RSAs of 931,348 at June 30, 2010 had an intrinsic value of $14.5 million and a weighted average remaining
contractual term of 2.4 years. Due to forfeitures, 880,373 awards are expected to vest with a total intrinsic value of $13.7 million.
Outstanding and unvested RSUs of 215,000 at June 30, 2010 had an intrinsic value of $3.3 million and a weighted average remaining
contractual term of 1.7 years. All unvested RSUs are expected to vest in fiscal year 2012.
Outstanding SARs of 1,110,100 at June 30, 2010 had a total intrinsic value of zero and a weighted average remaining contractual term of
7.7 years. Exercisable SARs of 465,420 at June 30, 2010 had a total intrinsic value of zero and a weighted average contractual term of
6.5 years. An additional 617,796 SARs are expected to vest with a $22.00 per share weighted average grant price, a weighted average
remaining contractual life of 8.5 years and a total intrinsic value of zero.
Total cash received from the exercise of share-based instruments in fiscal years 2010 and 2009 was $3.1 and $3.9 million, respectively.
As of June 30, 2010, the total unrecognized compensation cost related to all unvested stock-based compensation arrangements was
$28.4 million. The related weighted average period over which such cost is expected to be recognized was approximately 3.5 years as of
June 30, 2010.
The total intrinsic value of all stock-based compensation that was exercised during fiscal years 2010, 2009 and 2008 was $0.7, $1.9, and
$7.3 million, respectively.
132
Nonvested SARs Outstanding
Restricted
Stock
Outstanding
Shares/Units
Weighted
Average
Grant Date
Fair Value Shares
Weighted
Average
Exercise
Price
(in thousands)
(in thousands)
Balance, June 30, 2007
474
$
38.36
400
$
37.53
Granted
125
28.57
138
28.57
Cancelled
(10
)
37.71
(11
)
38.53
Vested/Exercised
(66
)
38.05
—
—
Balance, June 30, 2008
523
36.76
527
35.70
Granted
618
19.14
632
19.14
Cancelled
(28
)
35.41
(45
)
35.73
Vested/Exercised
(81
)
35.72
—
—
Balance, June 30, 2009
1,032
26.33
1,114
26.30
Granted
304
19.12
2
28.57
Cancelled
(2
)
20.02
(6
)
38.63
Vested/Exercised
(188
)
24.74
—
—
Balance, June 30, 2010
1,146
$
24.70
1,110
$
26.24