Coca Cola 2006 Annual Report Download - page 105

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THE COCA-COLA COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 15: STOCK COMPENSATION PLANS (Continued)
Restricted Stock Award Plans
Under the amended 1989 Restricted Stock Award Plan and the amended 1983 Restricted Stock Award Plan
(the ‘‘Restricted Stock Award Plans’’), 40 million and 24 million shares of restricted common stock, respectively,
were originally available to be granted to certain officers and key employees of our Company.
On December 31, 2006, approximately 31 million shares remain available for grant under the Restricted
Stock Award Plans. Participants are entitled to vote and receive dividends on the shares and, under the 1983
Restricted Stock Award Plan, participants are reimbursed by our Company for income taxes imposed on the
award, but not for taxes generated by the reimbursement payment. The shares are subject to certain transfer
restrictions and may be forfeited if a participant leaves our Company for reasons other than retirement,
disability or death, absent a change in control of our Company.
The following awards were outstanding and nonvested as of December 31, 2006:
• 382,700 shares of time-based restricted stock in which the restrictions lapse upon the achievement of
continued employment over a specified period of time. An additional 31,000 shares were promised for
employees based outside of the United States;
• 416,852 shares of performance-based restricted stock in which restrictions lapse upon the achievement of
specific performance goals over a specified performance period; and
• 2,271,240 performance share unit (‘‘PSU’’) awards which could result in a future grant of restricted stock
after the achievement of specific performance goals over a specified performance period. Such awards
are subject to adjustment based on the final performance relative to the goals, resulting in a minimum
grant of no shares and a maximum grant of 3,370,860 shares.
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