Electronic Arts 2015 Annual Report Download - page 161

Annual Report
The following table summarizes our market-based restricted stock unit activity for the year ended March 31,
2015:
Market-Based
Restricted Stock
Units
(in thousands)
Weighted-
Average Grant
Date Fair Value
Balance as of March 31, 2014 ......................................... 978 $24.83
Granted ........................................................ 193 48.14
Vested ......................................................... (671) 22.01
Vested above target ............................................... 192 17.20
Forfeited or cancelled ............................................. (29) 34.77
Balance as of March 31, 2015 ......................................... 663 $31.82
The weighted-average grant date fair values of market-based restricted stock units granted during fiscal years
2015, 2014, and 2013 were $48.14, $30.18, and $12.60, respectively. The fair values of market-based restricted
stock units that vested during fiscal years 2015, 2014, and 2013 were $23 million, $7 million, and $2 million,
respectively.
ESPP
Pursuant to our ESPP, eligible employees may authorize payroll deductions of between 2 percent 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.
During fiscal year 2015, we issued approximately 1.4 million shares under the ESPP with exercise prices for
purchase rights ranging from $22.64 to $32.16. During fiscal years 2015, 2014, and 2013, the estimated
weighted-average fair values of purchase rights were $8.26, $4.67 and $4.83, respectively. The fair values were
estimated on the date of grant using the Black-Scholes valuation model. We issue new common stock out of the
ESPP’s pool of authorized shares. As of March 31, 2015, 6.1 million shares were available for grant under our
ESPP.
Deferred Compensation Plan
We have a Deferred Compensation Plan (“DCP”) for the benefit of a select group of management or highly
compensated employees and Directors, which is unfunded and intended to be a plan that is not qualified within
the meaning of section 401(a) of the Internal Revenue Code. The DCP permits the deferral of the annual base
salary and/or Director fees up to a maximum amount. The deferrals are held in a separate trust, which has been
established by us to administer the DCP. The trust is a grantor trust and the specific terms of the trust agreement
provide that the assets of the trust are available to satisfy the claims of general creditors in the event of our
insolvency. The assets held by the trust are classified as trading securities and are held at fair value on our
Consolidated Balance Sheets. The assets and liabilities of the DCP are presented in other assets and other
liabilities on our Consolidated Balance Sheets, respectively, with changes in the fair value of the assets and in the
deferred compensation liability recognized as compensation expense. The estimated fair value of the assets was
$9 million as of March 31, 2015 and 2014. As of March 31, 2015 and 2014, $9 million was recorded to recognize
undistributed deferred compensation due to employees.
401(k) Plan, Registered Retirement Savings Plan and ITP Plan
We have a 401(k) plan covering substantially all of our U.S. employees, a Registered Retirement Savings Plan
covering substantially all of our Canadian employees, and an ITP pension plan covering substantially all our
Swedish employees. These plans permit us to make discretionary contributions to employees’ accounts based on
our financial performance. We contributed an aggregate of $27 million, $16 million and $19 million to these
plans in fiscal years 2015, 2014, and 2013, respectively.
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