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Table of Contents
CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
grants will be granted under the Clearwire Corporation 2007 Stock Compensation Plan or the Clearwire Corporation 2003 Stock Option Plan.
Restricted Stock Units
We grant RSUs and performance based RSUs to certain officers and employees under the 2008 Plan. All RSUs generally have performance and
service requirements or service requirements only, with vesting periods ranging from two to four years. 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. Performance RSUs awarded in 2012 have one to two years
performance periods and were granted once the performance objectives were established in the first quarter of 2012.
A summary of the RSU activity for the years ended December 31, 2012, 2011 and 2010 is presented below:
As of December 31, 2012, there were 21,963,607 RSUs outstanding and total unrecognized compensation cost of approximately $27.8 million,
which is expected to be recognized over a weighted
- average period of approximately 1.1 years.
Stock Options
We granted options to certain officers and employees under the 2008 Plan. All options generally vest over a four
- year period and expire no later
than ten years after the date of grant. The fair value of option grants was estimated on the date of grant using the Black
- Scholes option pricing model.
F - 77
Restricted Stock Units
Weighted-
Average
Grant Price
Fair Value (In Millions)
Future
Performance
and Service
Required
Future Service
Required
Future
Performance
and Service
Required
Future
Service
Required
Future
Performance
and Service
Required
Future
Service
Required
Restricted stock units outstanding —
January 1, 2010
—
11,853,194
$
—
$
4.60
Granted
—
10,523,277
—
6.71
$
—
$
70.6
Forfeited
—
( 3,613,124
)
—
5.55
Vested
—
( 4,087,694
)
—
4.22
$
—
$
29.5
Restricted stock units outstanding —
December 31, 2010
—
14,675,653
$
—
$
5.99
Granted
—
10,300,239
—
4.06
$
—
$
44.9
Forfeited
—
( 7,985,495
)
—
5.46
Vested
—
( 6,240,674
)
—
5.54
$
—
$
24.1
Restricted stock units outstanding —
December 31, 2011
—
10,749,723
$
—
$
4.79
Granted
6,619,937
17,857,468
1.96
2.25
$
13.0
$
40.2
Forfeited
(208,102
)
(2,141,799
)
1.99
3.32
Vested
—
( 4,501,785
)
—
4.45
$
—
$
8.4
Restricted stock units outstanding —
December 31, 2012
6,411,835
21,963,607
$
1.96
$
2.83