Waste Management 2011 Annual Report Download - page 51

about these awards. The stock options will vest in 25% increments on the first two anniversaries of the date of
grant and the remaining 50% will vest on the third anniversary. Although we consider all of our equity awards to
be a form of incentive compensation because their value will increase as the market value of our Common Stock
increases, only awards with performance criteria are considered “equity incentive plan awards” for SEC disclosure
purposes. As a result, option awards are not included as “Equity Incentive Plan Awards” in the table above or the
Outstanding Equity Awards at December 31, 2011 table.
(4) The exercise price represents the average of the high and low market price on the date of the grant, in
accordance with our 2009 Stock Incentive Plan.
(5) These amounts represent grant date fair value of the awards as calculated under ASC Topic 718. Please see
footnotes (1) and (2) to the Summary Compensation Table above for additional information.
(6) Upon Mr. Simpson’s retirement from the Company on September 30, 2011, he forfeited any cash bonus for
2011 under the Annual Incentive Plan. Additionally, his performance share units that were granted on
March 9, 2011 were prorated based on the portion of the three-year performance period that he was employed
by the Company; accordingly, he now has 2,504 performance share units with a performance period ending
December 31, 2013. Payouts on the prorated performance share units, if any, will be made at the end of the
performance period based on actual performance of the Company. The stock options Mr. Simpson received
on March 9, 2011 will continue to vest in accordance with the vesting schedule set forth in stock option grant;
however, such vested options will remain exercisable only for 36 months from his date of retirement.
Outstanding Equity Awards at December 31, 2011
Option Awards Stock Awards(1)
Name
Number of
Securities
Underlying
Unexercised
Options
Exercisable
(#)(2)
Number of
Securities
Underlying
Unexercised
Options
Unexercisable
(#)
Option
Exercise
Price
($)
Option
Expiration
Date
Equity
Incentive
Plan
Awards:
Number of
Unearned
Shares,
Units or
Other
Rights That
Have Not
Vested
(#)(6)
Equity
Incentive
Plan
Awards:
Market or
Payout Value
of Unearned
Shares, Units
or Other
Rights That
Have Not
Vested
David P. Steiner ............................... — 583,333(3) 37.185 03/09/2021 109,875 $3,594,011
82,752 248,256(4) 33.49 03/09/2020 — —
— 24,922(5) 38.205 03/06/2013 — —
90,000 — 29.24 03/04/2014 — —
335,000 — 21.08 04/03/2013 — —
56,593 — 19.61 03/06/2013 — —
135,000 — 27.88 03/07/2012 — —
Steven C. Preston .............................. — 184,584(3) 31.28 10/04/2021 — —
James E. Trevathan ............................ — 150,000(3) 37.585 07/05/2021 18,393 $ 601,635
— 109,084(3) 37.185 03/09/2021 — —
12,914 38,743(4) 33.49 03/09/2020 — —
20,000 — 29.23 07/19/2014 — —
50,000 — 29.24 03/04/2014 — —
120,000 — 19.61 03/06/2013 — —
65,000 — 27.88 03/07/2012 — —
Jeff M. Harris ................................. — 109,084(3) 37.185 03/09/2021 18,393 $ 601,635
12,914 38,743(4) 33.49 03/09/2020 — —
Duane C. Woods .............................. — 109,084(3) 37.185 03/09/2021 18,393 $ 601,635
12,914 38,743(4) 33.49 03/09/2020 — —
50,000 — 28.45 06/03/2014 — —
20,000 — 29.24 03/04/2014 — —
18,000 — 19.61 03/06/2013 — —
Robert G. Simpson ............................. — 145,616(3) 37.185 03/09/2021 12,712 $ 415,810
20,845 62,538(4) 33.49 03/09/2020 — —
33,000 — 27.60 05/13/2014 — —
42,000 — 29.24 03/04/2014 — —
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