Annual report pursuant to Section 13 and 15(d)

Share-based Compensation (Tables)

v2.4.0.8
Share-based Compensation (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
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, 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

Granted
 
2,421,124

 
19.78

25.70

 
22.20

Exercised
 
(1,556,865
)
 
0.91

25.24

 
6.81

Forfeited/cancelled
 
(800,470
)
 
4.28

29.50

 
18.71

Expired
 
(7,600
)
 
24.03

24.64

 
24.35

Balance, December 31, 2013
 
5,914,802

 
$
0.91

29.50

 
$
18.56

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, 2013
 
December 31, 2012
 
Fully  Vested
and
Expected  to
Vest
 
Non-Vested
 
Exercisable
 
Fully  Vested
and
Expected  to
Vest
 
Non-Vested
 
Exercisable
Number of shares outstanding
5,864,340

 
3,930,330

 
1,984,472

 
5,821,461

 
3,491,204

 
2,367,409

Weighted average remaining contractual life
7.94

 
8.66

 
6.58

 
7.47

 
8.40

 
6.17

Weighted average price per share
$
18.53

 
$
20.66

 
$
14.42

 
$
13.93

 
$
16.98

 
$
9.52

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 during the years presented were valued using the following assumptions:
 
Risk-free interest rates
0.8-2.5%

Expected option life (in years)
5-6

Dividend yield
%
Expected volatility
48-53%

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, 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

Granted
 
1,747,501

 
22.09

Vested
 
(712,434
)
 
21.30

Forfeited/cancelled
 
(305,211
)
 
21.58

Balance at December 31, 2013
 
2,090,803

 
$
22.10


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, 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

Granted
 
100,000

 
21.60

Vested
 
(31,902
)
 
17.99

Forfeited/cancelled
 
(273,355
)
 
23.40

Balance at December 31, 2013
 
70,000

 
$
18.10