Electronic Arts 2015 Annual Report Download - page 159

Annual Report
options as of that date. The weighted-average grant date fair values of stock options granted during fiscal years
2015, 2014, and 2013 were $12.01, $8.61 and $4.64, respectively. The total intrinsic values of stock options
exercised during fiscal years 2015 and 2014 were $22 million and $16 million, respectively, and immaterial for
fiscal year 2013. We issue new common stock from our authorized shares upon the exercise of stock options.
The following table summarizes outstanding and exercisable stock options as of March 31, 2015:
Options Outstanding Options Exercisable
Range of
Exercise Prices
Number
of Shares
(in thousands)
Weighted-
Average
Remaining
Contractual
Term (in years)
Weighted-
Average
Exercise
Prices
Potential
Dilution
Number
of Shares
(in thousands)
Weighted-
Average
Exercise
Prices
Potential
Dilution
$11.53-$23.83 752 4.49 $19.17 0.2% 713 $19.32 0.2%
26.25-26.25 1,000 8.59 26.25 0.3% 320 26.25 0.1%
27.49-35.70 998 9.18 35.43 0.3% 9 27.49 —%
36.00-49.90 1,242 3.31 47.18 0.4% 1,036 49.19 0.3%
49.96-60.59 928 1.48 53.41 0.3% 928 53.41 0.3%
$11.53-$60.59 4,920 5.41 $37.44 1.5% 3,006 $40.90 0.9%
Potential dilution is computed by dividing the options in the related range of exercise prices by 310 million
shares of common stock, which were issued and outstanding as of March 31, 2015.
Restricted Stock Rights
We grant restricted stock rights under our Equity Plan to employees worldwide. Restricted stock units entitle
holders to receive shares of common stock at the end of a specified period of time. Upon vesting, the equivalent
number of common shares is typically issued net of required tax withholdings, if any. Restricted stock is issued
and outstanding upon grant; however, restricted stock award holders are restricted from selling the shares until
they vest. Upon granting or vesting of restricted stock, as the case may be, we will typically withhold shares to
satisfy tax withholding requirements. Restricted stock rights are subject to forfeiture and transfer restrictions.
Vesting for restricted stock rights is based on the holders’ continued employment with us. If the vesting
conditions are not met, unvested restricted stock rights will be forfeited.
Generally, our restricted stock rights vest according to one of the following vesting schedules:
• One-year vesting with 100% cliff vesting at the end of one year;
• 35 month vesting with
1
⁄ 3 cliff vesting after 11, 23 and 35 months;
• Three-year vesting with
1
⁄ 3 cliff vesting at the end of each year;
• Three-year vesting with 100% cliff vesting at the end of year three;
• Three-year vesting with
1
⁄ 2 cliff vesting after 18 and 36 months;
• Three-year vesting with
2
⁄ 3 and
1
⁄ 3 vesting cliff vesting after 24 and 36 months;
• Three-year vesting with
1
⁄ 4 ,
7
⁄ 20 ,
1
⁄ 5 , and
1
⁄ 5 of the shares cliff vesting respectively at the end of each of
the first 6 months, 1st,2
nd, and 3rd years;
• Four-year vesting with
1
⁄ 4 cliff vesting at the end of each year or;
• Five-year vesting with
1
⁄ 9 ,
2
⁄ 9 ,
3
⁄ 9 ,
2
⁄ 9 and
1
⁄ 9 of the shares cliff vesting respectively at the end of each
of the 1st,2
nd,3 rd,4 th, and 5th years.
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