Electronic Arts 2010 Annual Report Download - page 180

Each restricted stock right granted reduces the number of shares available for grant by 1.43 shares under our
Equity Plan. The following table summarizes our restricted stock rights activity, excluding performance-based
restricted stock unit activity discussed below, for the fiscal year ended March 31, 2010:
Restricted Stock
Rights
(in thousands)
Weighted-
Average Grant
Date Fair Value
Balance as of March 31, 2009 ......................................... 7,559 $42.76
Granted ........................................................ 5,302 18.84
Exchange Program (granted) ....................................... 5,919 17.43
Vested ......................................................... (3,064) 42.16
Forfeited or cancelled ............................................. (1,416) 33.53
Balance as of March 31, 2010 ......................................... 14,300 24.45
The weighted-average grant-date fair value of restricted stock rights is based on the quoted market price of our
common stock on the date of grant. The weighted-average grant-date fair values of restricted stock rights granted
during fiscal years 2010, 2009 and 2008 were $18.10, $32.42 and $52.06, respectively. The total grant-date fair
values of restricted stock rights that vested during fiscal years 2010, 2009 and 2008 were $129 million, $90
million and $31 million, respectively.
Performance-Based Restricted Stock Units
Our performance-based restricted stock units vest contingent upon the achievement of pre-determined
performance-based milestones. If these performance-based milestones are not met, the restricted stock units will
not vest, in which case, any compensation expense we have recognized to date will be reversed.
The following table summarizes our performance-based restricted stock unit activity for the fiscal year ended
March 31, 2010:
Performance-
Based Restricted
Stock Units
(in thousands)
Weighted-
Average Grant
Date Fair Value
Balance as of March 31, 2009 ........................................ 3,008 $47.59
Granted ........................................................ 236 20.93
Vested ......................................................... (196) 27.73
Forfeited or cancelled ............................................. (722) 39.61
Balance as of March 31, 2010 ........................................ 2,326 49.04
The weighted-average grant-date fair value of performance-based restricted stock units is based on the quoted
market price of our common stock on the date of grant. The weighted-average fair values of performance-based
restricted stock units granted during fiscal years 2010, 2009 and 2008 were $20.93, $46.05 and $54.51,
respectively. The total grant date fair values of performance-based restricted stock units that vested during fiscal
years 2010 and 2009 were $5 million and $3 million, respectively. No performance-based restricted stock units
vested prior to fiscal year 2009.
ESPP
Pursuant to our ESPP, eligible employees may authorize payroll deductions of between 2 and 10 percent of their
compensation to purchase shares at 85 percent of the lower of the market price of our common stock on the date
of commencement of the offering or on the last day of each six-month purchase period.
At our Annual Meeting of Stockholders, held on July 29, 2009, our stockholders approved amendments to the
ESPP to increase the number of shares authorized under the ESPP by 3 million. As of March 31, 2010, we had
5 million shares of common stock reserved for future issuance under the ESPP.
102