Sprint - Nextel 2011 Annual Report Download - page 136

Table of Contents
CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
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 (including the effects of the continued vesting for certain former employees and the Exchange Offer) for the years ended
December 31, 2011, 2010 and 2009 is presented below:
As of December 31, 2011, there were 10,749,723 RSUs outstanding and total unrecognized compensation cost of approximately $18.3 million, which is expected to
be recognized over a weighted-average period of approximately 1.27 years.
For the years ended December 31, 2011, 2010 and 2009, we used a forfeiture rate of 8.9%, 7.15% and 7.75%, respectively, in determining compensation expense
for RSUs.
Stock Options
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.
F-69
Number of
RSU’s
Weighted-
Average
Grant Price Fair Value (In
Millions)
Restricted stock units outstanding — January 1, 2009 3,272,625 $ 13.19
Granted 10,938,677 4.39 $ 48,000,000.0
Forfeited (1,217,857) 5.17
Vested (1,140,251) 6.95 $ 7,900,000.0
Restricted stock units outstanding — December 31, 2009 11,853 $ 4.60
Granted 10,523,277 6.71 $ 70,600,000.0
Forfeited (3,613,124) 5.55
Vested (4,087,694) 4.22 $ 29,500,000.0
Restricted stock units outstanding — December 31, 2010 14,676 $ 5.99
Granted 10,300,239 4.06 $ 44,934,086.0
Forfeited (7,985,495) 5.46
Vested (6,240,674) 5.54 $ 24,135,777.0
Restricted stock units outstanding — December 31, 2011 10,750 $ 4.79