World Fuel Services 2011 Annual Report Download - page 96

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RSU Awards
The following table summarizes the status of our RSUs and related transactions for each of the following
years (in thousands, except for weighted average grant-date fair value data and weighted average
remaining contractual life):
RSUs Outstanding
Weighted
Weighted Average
Average Remaining
Grant-date Aggregate Contractual
Fair Intrinsic Life
RSUs Value Value (in Years)
As of December 31, 2008 285 $13.59 $ 5,276 3.6
Granted 639 14.88
Issued (10) 12.29
Forfeited (13) 13.70
As of December 31, 2009 901 14.52 24,131 2.5
Granted 343 28.32
Issued (11) 14.03
Forfeited (15) 19.91
As of December 31, 2010 1,218 18.34 44,038 2.6
Granted 224 38.01
Issued (515) 14.03
Forfeited (26) 16.19
As of December 31, 2011 901 $25.59 $37,373 1.7
Included in the table above are 107 thousand RSUs held by our non-employee directors. For RSUs
granted to our non-employee directors prior to 2011, shares of our common stock will be issued to the
non-employee director when he or she ceases, for any reason, to be a member of the Board of Directors.
For RSUs granted to our non-employee directors in 2011, 50% of the shares of our common stock will be
issued to the non-employee director once the one-year vesting period is completed, and 50% of the
shares will be issued three years after the one-year vesting period is completed or when the
non-employee director ceases, for any reason, to be a member of the Board of Directors, whichever
occurs first.
Common Stock Awards
As partial settlement of a special bonus award recorded in 2008, we issued $4.5 million, or 162,338
shares, of our common stock in March 2009.
Unrecognized Compensation Cost
As of December 31, 2011, there was $23.1 million of total unrecognized compensation cost related to
unvested share-based payment awards, which is included as capital in excess of par value in the
accompanying consolidated balance sheet. The unrecognized compensation cost at December 31, 2011
is expected to be recognized as compensation expense over a weighted average period of 1.6 years as
follows (in thousands):
Year Ended December 31,
2012 $ 8,843
2013 7,036
2014 4,281
2015 2,047
2016 942
$23,149
72