Sprint - Nextel 2010 Annual Report Download - page 123

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the Closing, we granted RSUs to certain officers and employees under the 2008 Plan. All RSUs generally vest over a
four-year period. The fair value of our RSUs is based on the grant-date fair market value of the common stock, which equals
the grant date market price.
A summary of the RSU activity for the years ended December 31, 2010, 2009 and 2008 is presented below:
Restricted stock units outstanding — January 1, 2008
Restricted stock units acquired in purchase accounting — November 28, 2008
Granted
Forfeited
Released
Cancelled
Restricted stock units outstanding — December 31, 2008
Granted
Forfeited
Released
Cancelled
Restricted stock units outstanding — December 31, 2009
Granted
Forfeited
Released
Cancelled
Restricted stock units outstanding — December 31, 2010
Number of
RSU’s
—
3,216,500
716,000
(43,000)
(508,098)
(108,777)
3,272,625
10,938,677
(1,217,857)
(1,140,251)
—
11,853,194
10,523,277
(3,613,124)
(4,087,694)
—
14,675,653
Weighted-
Average
Grant Price
$ 13.19
4.10
—
5.18
—
$ 13.19
4.39
5.17
6.95
—
$ 4.60
6.71
5.55
4.22
—
$ 5.99
The total fair value of grants during 2010, 2009 and 2008 was $70.6 million, $48.0 million and $2.9 million, respectively.
The intrinsic value of RSUs released during the years ended December 31, 2010, 2009 and 2008 was $29.5 million,
$7.9 million and $3.2 million, respectively. As of December 31, 2010, there were 14,675,653 RSUs outstanding and total
unrecognized compensation cost of approximately $50.3 million, which is expected to be recognized over a weighted-average
period of approximately 1.6 years.
For the years ended December 31, 2010, 2009 and 2008, we used a forfeiture rate of 7.15%, 7.75% and 7.50%,
respectively, in determining compensation expense for RSUs.
Stock Options
In connection with the Transactions, all Old Clearwire stock options issued and outstanding at the Closing were
exchanged on a one-for-one basis for stock options with equivalent terms. Following the Closing, we granted options to certain
officers and employees under the 2008 Plan. All options generally vest over a four-year period. The fair value of option grants
was estimated on the date of grant using the Black-Scholes option pricing model.
Table of Contents CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS —(CONTINUED)
F-66