Coca Cola 2007 Annual Report Download - page 104

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THE COCA-COLA COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 15: STOCK COMPENSATION PLANS (Continued)
Time-Based Restricted Stock Awards
The following table summarizes information about time-based restricted stock awards:
2007 2006 2005
Shares
Weighted-
Average
Grant-Date
Fair Value Shares
Weighted-
Average
Grant-Date
Fair Value Shares
Weighted-
Average
Grant-Date
Fair Value
Nonvested on January 1 413,700 $ 35.84 432,700 $ 36.46 513,700 $ 39.97
Granted 55,180 56.34 — — 9,000 41.80
Promises to grant 20,579 53.35 21,000 48.84 10,000 42.84
Vested and released1——(30,000) 58.48 (100,000) 55.62
Cancelled/forfeited (10,000) 42.84 (10,000) 21.91 — —
Nonvested on December 31 479,4592$ 38.81 413,7002$ 35.84 432,7002$ 36.46
1The total fair value of time-based restricted shares vested and released during the years ended
December 31, 2006 and 2005, was approximately $1.3 million and $4.3 million, respectively. The
grant-date fair value is the quoted market value of the Company stock on the respective grant date.
2The nonvested shares on December 31, 2007, 2006 and 2005 include promises to grant time-based
restricted stock of 41,579; 31,000; and 10,000, respectively. These awards are similar to time-
based restricted stock, including the payment of dividend equivalents, but were granted in this
manner because the employees were based outside of the United States.
Performance-Based Restricted Stock Awards
In 2001, shareowners approved an amendment to the 1989 Restricted Stock Award Plan to allow for the grant of
performance-based awards. These awards are released only upon the achievement of specific measurable performance
criteria. These awards pay dividends during the performance period. The majority of awards have specific earnings per
share targets for achievement. If the earnings per share targets are not met, the awards will be cancelled.
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