Humana 2005 Annual Report Download - page 93

Download and view the complete annual report

Please find page 93 of the 2005 Humana annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

Humana Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Activity for our restricted stock awards was as follows for the years ended December 31, 2005, 2004 and
2003:
2005 2004 2003
Balance, January 1, ............................ 10,000 155,000 4,131,726
Granted ................................. 494,800 10,000 —
Vested .................................. — (155,000) (3,904,382)
Forfeited ................................ (15,500) — (72,344)
Balance, December 31, ......................... 489,300 10,000 155,000
The weighted average grant date fair value of our restricted stock awards was $32.98 in 2005 and $29.54 in
2004. Compensation expense recognized related to our restricted stock award plans was $4.5 million in 2005,
$0.2 million in 2004, and $5.8 million in 2003.
Options are granted at the average market price on the date of grant. Exercise provisions vary, but most
options vest in whole or in part 1 to 5 years after grant and expire 7 to 10 years after grant. At December 31,
2005, there were 12,513,939 shares reserved for employee and director stock option plans, including 2,852,181
shares of common stock available for future grants. On February 23, 2006, the Board of Directors approved the
issuance of 1,517,507 additional options and restricted stock awards.
83