Wendy's 2008 Annual Report Download - page 148

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2007 Restricted Shares
On May 23, 2007, the Company granted certain officers and key employees, other than our current Chief
Executive Officer, 159 restricted shares (the “2007 Restricted Shares”) of Class B Common Stock under one of
its Equity Plans. The 2007 Restricted Shares vest ratably over three years, subject to continued employment
through each of the anniversary dates. The price of the Company’s Class B Common Stock on the May 23,
2007 grant date was $15.84 and the resulting grant-date fair value is being recognized as compensation
expense ratably over the vesting periods net of an anticipated amount of forfeitures. For 2008 and 2007, the
compensation expense recognized relating to the 2007 Restricted Shares was $742 and $763, respectively. In
2008, 19 shares were forfeited and 52 shares vested. No 2007 Restricted Shares were forfeited or vested during
2007.
2008 Restricted Shares
On June 18, 2008 the Company granted certain officers and key employees, other than our current Chief
Executive Officer, 48 restricted shares of Class A Common Stock and 218 restricted shares of Class B Common
Stock (collectively, the “2008 Restricted Shares”) under one of its Equity Plans. The 2008 Restricted Shares
vest ratably over three years, subject to continued employment through each of the anniversary dates. The
prices of the Company’s Class A Common Stock and Class B Common Stock on the June 18, 2008 grant date
were $6.77 and $6.76, respectively, and the resulting grant-date fair value is being recognized as compensation
expense ratably over the vesting periods net of an anticipated amount of forfeitures. For 2008, the
compensation expense recognized relating to the 2008 Restricted Shares was $439. No 2008 Restricted Shares
vested during 2008 and 17 Class B Common Stock shares were forfeited.
A summary of changes in the Company’s nonvested 2008 Restricted Shares, 2007 Restricted Shares and
2005 Restricted Shares is as follows:
Shares
Grant
Date
Fair
Value Shares
Grant
Date
Fair
Value Shares
Grant
Date
Fair
Value Shares
Grant
Date
Fair
Value Shares
Grant
Date
Fair
Value
Class A
Common
Stock
Class B
Common
Stock
Class B
Common
Stock
Class A
Common
Stock
Class B
Common
Stock
2008 Grant 2007 Grant 2005 Grant
Nonvested at January 1, 2006 . 149 $15.59 730 $14.75
Vested during 2006........... (50) 15.59 (243) 14.75
Forfeited during 2006......... — (1) 14.75
Nonvested at December 31,
2006 ...................... 99 15.59 486 14.75
Granted during 2007 ......... 159 $15.84 — —
Vested during 2007........... — (99) 15.59 (482) 14.75
Forfeited during 2007......... — — (4) 14.75
Nonvested at December 30,
2007 ...................... 159 15.84 — —
Granted during 2008 ......... 48 $6.77 218 $6.76 —
Vested during 2008........... — — (52) 15.84
Forfeited during 2008......... — (17) 6.76 (19) 15.84
Nonvested at December 28,
2008 ...................... 48 $6.77 201 $6.76 88 $15.84
The total fair value of 2005 Restricted Shares which vested during 2007 and 2006 was $9,683 and
$4,936, respectively, as of the accelerated June 29, 2007, and the March 14, 2007 and March 14, 2006 vesting
140
Wendy’s/Arby’s Group, Inc. and Subsidiaries
(Formerly Triarc Companies, Inc.)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—CONTINUED
(In Thousands Except Per Share Amounts)