Annual report pursuant to Section 13 and 15(d)

Share-based Compensation (Tables)

v2.4.0.6
Share-based Compensation (Tables)
12 Months Ended
Dec. 31, 2012
Summary of Stock Option Transactions Under Equity Plan, Stock Incentive Plan, Multifamily Technology Solutions Plan and Board Plan

The following table summarizes stock option transactions under our 2010 Equity Plan, Stock Incentive Plan, MTS Plan and Board Plan:

 

     Number of
Shares
    Range of
Exercise
Prices
     Weighted
Average
Exercise
Price
 

Balance at December 31, 2009

     7,928,729      $ 2.00 – 7.00       $ 4.33   

Granted

     2,460,600        7.50 – 27.18         10.68   

Exercised

     (778,746     2.00 – 9.00         3.09   

Forfeited/cancelled

     (479,089     2.00 – 27.18         6.21   
  

 

 

      

Balance at December 31, 2010

     9,131,494      $ 2.00 – 27.18       $ 6.05   

Granted

     1,477,250        19.73 – 29.50         24.09   

Assumed MTS Plan

     349,693        0.91 – 23.29         4.39   

Exercised

     (3,117,058     0.91 – 27.18         4.07   

Forfeited/cancelled

     (547,969     4.28 – 29.50         12.94   

Expired

     (1,379     4.28 – 6.00         5.26   
  

 

 

      

Balance, December 31, 2011

     7,292,031      $ 0.91 – 29.50       $ 9.95   

Granted

     1,641,470        17.67 – 24.64         20.09   

Exercised

     (2,389,704     0.91 – 27.18         5.05   

Forfeited/cancelled

     (684,154     0.94 – 29.50         17.04   

Expired

     (1,030     0.94 – 27.18         2.73   
  

 

 

      

Balance, December 31, 2012

     5,858,613      $ 0.91 – 29.50       $ 13.97   
  

 

 

      

Outstanding Stock Options, Vested and Expected to Vest, Non-Vested and Stock Options Currently Exercisable

The following table summarizes outstanding stock options that are vested and expected to vest, non-vested and stock options that are currently exercisable.

 

     December 31, 2012      December 31, 2011  
     Fully Vested
and
Expected to
Vest
     Non-Vested      Exercisable      Fully Vested
and
Expected to
Vest
     Non-Vested      Exercisable  

Number of shares outstanding

     5,821,461         3,491,204         2,367,409         7,274,630         3,809,498         3,481,970   

Weighted average remaining contractual life

     7.47         8.40         6.17         7.20         8.52         5.82   

Weighted average price per share

   $ 13.93       $ 16.98       $ 9.52       $ 9.94       $ 13.82       $ 5.71   
Awards Granted Assumptions

We have utilized the Black-Scholes option pricing model as the appropriate model for determining the fair value of stock-based awards. The awards granted were valued using the following assumptions:

 

Risk-free interest rates

     1.5-5.1

Expected option life (in years)

     6   

Dividend yield

     0

Expected volatility

     49-60
Summary of Time-Based Restricted Share Awards' Activity

A summary of time-based restricted share awards’ activity is presented in the table below.

 

     Number of
Shares
    Weighted
Average
Price
 

Balance at December 31, 2009

     100,000      $ 5.04   

Granted

     274,132        19.21   

Vested

     (51,332     5.10   

Forfeited/cancelled

     (1,100     27.18   
  

 

 

   

Balance at December 31, 2010

     321,700      $ 20.54   

Granted

     1,063,085        23.92   

Vested

     (197,990     21.48   

Forfeited/cancelled

     (187,837     21.60   
  

 

 

   

Balance at December 31, 2011

     998,958      $ 24.54   

Granted

     1,022,609        19.93   

Vested

     (426,675     23.08   

Forfeited/cancelled

     (233,945     23.34   
  

 

 

   

Balance at December 31, 2012

     1,360,947      $ 21.58   
  

 

 

   
Performance-Based Restricted Share Awards' Activity

A summary of performance-based restricted share awards’ activity is presented in the table below.

 

     Number of
Shares
    Weighted
Average
Price
 

Balance at December 31, 2009

     161,173      $ 5.04   

Granted

     564,000        27.18   

Vested

     —          —     

Forfeited/cancelled

     (3,146     5.04   
  

 

 

   

 

 

 

Balance at December 31, 2010

     722,027      $ 22.33   

Granted

     20,646        25.77   

Vested

     (209,086     19.97   

Forfeited/cancelled

     —          —     
  

 

 

   

 

 

 

Balance at December 31, 2011

     533,587      $ 23.39   

Granted

     270,000        22.93   

Vested

     (132,791     12.87   

Forfeited/cancelled

     (395,539     27.26   
  

 

 

   

 

 

 

Balance at December 31, 2012

     275,257      $ 22.46