Coca Cola 2007 Annual Report Download - page 106

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THE COCA-COLA COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 15: STOCK COMPENSATION PLANS (Continued)
the Maximum Award of 150 percent of target was achieved. Also, outstanding as of December 31, 2007 are 164,500
performance share units granted in 2007 with certain financial measures of a business unit of the Company as the
performance criteria. In addition, 72,000 performance share units, with predefined qualitative performance criteria and
release criteria that differ from the program described above, were granted in 2004 and were outstanding as of
December 31, 2007.
The following table summarizes information about performance share unit awards based on the Target Award
amounts in the PSU agreements:
2007 2006 2005
Share Units
Weighted-
Average
Grant-Date
Fair Value Share Units
Weighted-
Average
Grant-Date
Fair Value Share Units
Weighted-
Average
Grant-Date
Fair Value
Outstanding on January 1 2,271,240 $ 39.99 2,356,728 $ 40.42 1,583,447 $ 41.83
Granted 1,221,578 46.51 160,000 37.84 835,440 37.71
Conversions:
Restricted stock1(203,609) 45.45 (123,852) 42.07 — —
Promises to grant2(179,292) 46.78 —— ——
Paid in cash equivalent3(23,790) 46.83 (7,178) 41.87 — —
Cancelled/forfeited (305,794) 44.22 (114,458) 43.45 (62,159) 40.06
Outstanding on
December 31 2,780,333 $ 41.50 2,271,240 $ 39.99 2,356,728 $ 40.42
1Represents performance share units converted to restricted stock based on the certification of
financial results for the 2004-2006 performance period and for certain executives prior to
retirement. The vesting of this restricted stock is subject to terms of the performance share unit
agreements.
2Represents performance share units converted to promises to grant restricted stock for executives
based on the certification of financial results for the 2004-2006 performance period. These awards
are similar to restricted stock, including payment of dividend equivalents, but were granted in this
manner because the executives were based outside of the United States. The vesting of promises to
grant restricted stock is subject to terms of the performance share unit agreements.
3Represents share units that converted to cash equivalent payments of approximately $1.2 million
and $0.3 million in 2007 and 2006, respectively, to former executives who were ineligible for
restricted stock grants due to certain events such as death, disability or termination.
The following table summarizes the number of performance share units at various award levels:
December 31, 2007 2006 2005
Threshold Award 1,627,376 1,297,632 1,352,388
Target Award 2,780,333 2,271,240 2,356,728
Maximum Award 4,545,750 3,370,860 3,499,092
104