XM Radio 2011 Annual Report Download - page 121

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SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following table summarizes the nonvested restricted stock and restricted stock unit activity under our
share-based payment plans for the years ended December 31, 2011, 2010 and 2009 (shares in thousands):
Shares
Weighted-Average
Grant Date Fair
Value
Nonvested, January 1, 2009 ................................... 19,931 $2.84
Granted ................................................. 84,851 $0.37
Vested restricted stock awards ............................... (8,476) $2.98
Vested restricted stock units ................................. (87,036) $0.46
Forfeited ................................................ (2,351) $1.92
Nonvested, December 31, 2009 ................................ 6,919 $2.65
Granted ................................................. — $ —
Vested restricted stock awards ............................... (4,039) $2.85
Vested restricted stock units ................................. (192) $2.92
Forfeited ................................................ (291) $2.72
Nonvested, December 31, 2010 ................................ 2,397 $2.57
Granted ................................................. — $ —
Vested restricted stock awards ............................... (1,854) $3.30
Vested restricted stock units ................................. (101) $3.08
Forfeited ................................................ (21) $3.05
Nonvested, December 31, 2011 ................................ 421 $1.46
The weighted average grant date fair value of restricted stock units granted during the year ended
December 31, 2009 was $0.37. No restricted stock units were granted during 2011 or 2010. The total intrinsic
value of restricted stock and restricted stock units that vested during the years ended December 31, 2011, 2010
and 2009 was $3,178, $3,927 and $45,827, respectively.
We recognized share-based payment expense associated with restricted stock units and shares of restricted
stock of $543, $7,397 and $16,632 for the years ended December 31, 2011, 2010 and 2009, respectively.
Total unrecognized compensation costs related to unvested share-based payment awards for stock options
and restricted stock units and shares granted to employees and members of our board of directors at
December 31, 2011 and 2010, net of estimated forfeitures, was $129,983 and $108,170, respectively. The total
unrecognized compensation costs at December 31, 2011 are expected to be recognized over a weighted-average
period of three years.
401(k) Savings Plan
We sponsor the Sirius XM Radio 401(k) Savings Plan (the “Sirius XM Plan”) for eligible employees.
The Sirius XM Plan allows eligible employees to voluntarily contribute from 1% to 50% of their pre-tax
eligible earnings, subject to certain defined limits. We match 50% of an employee’s voluntary contributions, up
to 6% of an employee’s pre-tax salary, in the form of shares of common stock. Employer matching contributions
F-33