Microsoft 2015 Annual Report Download - page 78

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77
Activity for all stock plans
The fair value of each award was estimated on the date of grant using the following assumptions:
Y
ear Ended June 30, 2015 2014
2013
Dividends per share (quarterly amounts) $0.28 -$ 0.31 $ 0.23 - $ 0.28 $ 0.20 - $ 0.23
Interest rates range 1.2% - 1.9% 1.3% - 1.8% 0.6% - 1.1%
During fiscal year 2015, the following activity occurred under our stock plans:
Shares
Weighted
Average
Grant-Date
Fair Value
(In millions)
Stock Awards
Nonvested balance, beginning of year 259 $ 27.88
Granted 75 $ 42.36
Vested (94) $ 27.47
Forfeited (24) $ 31.81
Nonvested balance, end of year 216 $ 32.72
As of June 30, 2015, there was approximately $4.7 billion of total unrecognized compensation costs related to stock
awards. These costs are expected to be recognized over a weighted average period of 3 years.
During fiscal years 2014 and 2013, the following activity occurred under our stock plans:
(In millions, except fair values) 2014 2013
Stock Awards
Awards granted (a) 103 104
Weighted average grant-date fair value $ 31.50 $ 28.37
(a) Awards granted during fiscal year 2014 included four million shares in stock replacement awards related to the
acquisition of NDS. The weighted average grant-date fair value was $37.64.
Total vest-date fair value of stock awards vested was $4.2 billion, $3.2 billion, and $2.8 billion, for fiscal years 2015,
2014, and 2013, respectively.
Employee Stock Purchase Plan
We have an employee stock purchase plan (the “Plan”) for all eligible employees. Shares of our common stock may
be purchased by employees at three-month intervals at 90% of the fair market value on the last trading day of each
three-month period. Employees may purchase shares having a value not exceeding 15% of their gross
compensation during an offering period. Employees purchased the following shares during the periods presented:
(Shares in millions)
Y
ear Ended June 30, 2015
2014 2013
Shares purchased 16 18 20
Average price per share $ 39.87 $ 33.60 $ 26.81
At June 30, 2015, 157 million shares of our common stock were reserved for future issuance through the Plan.
Savings Plan
We have a savings plan in the U.S. that qualifies under Section 401(k) of the Internal Revenue Code, and a number
of savings plans in international locations. Participating U.S. employees may contribute up to 75% of their salary, but
not more than statutory limits. We contribute fifty cents for each dollar of the first 6% a participant contributes in this
plan, with a maximum contribution of the lesser of 3% of a participant’s earnings or 3% of the IRS compensation limit
for the given year. Matching contributions for all plans were $454 million, $420 million, and $393 million in fiscal years