iRobot 2012 Annual Report Download - page 108

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iROBOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
58
The table below summarizes activity relating to restricted stock units:
Number of
Shares Underlying
Restricted Stock
Weighted Average
Grant Date Fair
Value
Outstanding at January 2, 2010 301,224
$ 12.23
Granted 382,564
16.84
Vested (98,015 ) 13.18
Forfeited (15,696 ) 13.17
Outstanding at January 1, 2011 570,077
$ 15.14
Granted 282,744
32.08
Vested (168,041 ) 15.31
Forfeited (77,275 ) 16.73
Outstanding at December 31, 2011 607,505
$ 22.77
Granted 685,529
24.62
Vested (204,053 ) 21.24
Forfeited (147,951 ) 25.07
Outstanding at December 29, 2012 941,030
$ 24.09
During the fiscal year ended December 29, 2012, the Company recognized $6.4 million of stock based compensation
expense associated with restricted stock units. As of December 29, 2012, December 31, 2011 and January 1, 2011, the
unamortized fair value of all restricted stock units was $17.9 million, $11.7 million and $7.6 million, respectively. The
Company expects to recognize associated stock-based compensation expense of $6.9 million, $5.7 million, $3.9 million and
$1.4 million in 2013, 2014, 2015 and 2016, respectively.
The following includes significant activity that is included in the stock option activity and restricted stock activity tables
above:
On March 9, 2012, the Company granted to certain employees, including executive officers, an annual merit grant of
stock options totaling 181,325 shares of the Company's common stock and 371,850 restricted stock units. Each of the above
stock options have a per share exercise price of $26.59, the closing price of the Company's common stock on NASDAQ on
March 9, 2012. These stock options and restricted stock units generally vest over a four year period.
On June 8, 2012, the Company granted each of its nine non-employee board members 5,181 restricted stock units. These
restricted stock units will vest at the earlier of the first anniversary of the grant or the date of the first annual meeting of the
stockholders following the date of grant.
On September 7, 2012, the Company granted to certain employees, including executive officers, stock options totaling
98,000 shares of the Company's common stock and 120,450 restricted stock units. Each of the above stock options have a per
share exercise price of $25.99, the closing price of the Company's common stock on NASDAQ on September 7, 2012. The
stock options and restricted stock units generally vest over a four year period.
On December 7, 2012, the Company granted certain employees, including an executive officer, stock options totaling
136,000 shares of the Company's common stock and 108,250 restricted stock units. Each of the above stock options have a per
share exercise price of $18.47, the closing price of the Company's common stock on NASDAQ on December 7, 2012. The
stock options and restricted stock units generally vest over a four year period.