CMCSA » Topics » Restricted Stock Plan

This excerpt taken from the CMCSA 10-K filed Feb 23, 2010.

Restricted Stock Plan

We maintain a restricted stock plan under which certain employees and directors (“participants”) may be granted RSU awards in units of Class A or Class A Special common stock. Under the restricted stock plan, a combined total of approximately 55 million shares of our Class A and Class A Special common stock are reserved for issuance, including those outstanding as of


63 Comcast 2009 Annual Report on Form 10-K


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December 31, 2009. RSUs, which are valued based on the closing price on the date of grant and discounted for the lack of dividends, if any, during the vesting period, entitle participants to receive, at the time of vesting, one share of common stock for each RSU. The awards vest annually, generally over a period not to exceed 5 years, and do not have voting or dividend rights. The table below summarizes the weighted-average fair value at the date of grant of the RSUs.

2009 2008 2007

Weighted-average fair value

$ 13.60 $ 18.06 $ 25.65

Restricted Stock Plan Activity

Nonvested
Restricted Share Unit

Awards (in thousands)

Weighted-
Average Grant
Date Fair Value

Class A Common Stock

Nonvested awards outstanding as of January 1, 2009

20,336 $ 19.64

Granted

13,125 $ 13.60

Vested

(4,485 ) $ 20.89

Forfeited

(2,439 ) $ 19.79

Nonvested awards outstanding as of December 31, 2009

26,537 $ 17.34

Vested Restricted Share Units

Year ended December 31 (in millions) 2009 2008 2007

Fair value of RSUs vested

$ 61 $ 65 $ 75

Tax benefit of RSUs vested

$ 22 $ 23 $ 24

The restricted stock plan also provides certain employees and directors the opportunity to defer the receipt of shares of Class A or Class A Special common stock that would otherwise be deliverable when their RSUs vest. As of December 31, 2009, approximately 1.0 million and 80,000 shares of Class A common stock and Class A Special common stock, respectively, were issuable under vested RSU awards, the receipt of which was irrevocably deferred by participants.

This excerpt taken from the CMCSA 10-K filed Feb 20, 2009.

Restricted Stock Plan

We maintain a restricted stock plan under which certain employees and directors (“participants”) may be granted RSU awards in units of Class A or Class A Special common stock. Under the restricted stock plan, a combined total of approximately 50 million shares of our Class A and Class A Special common stock are reserved for issuance, including those outstanding as of December 31, 2008. RSUs, which are valued based on the closing price on the date of grant and discounted for the lack of dividends, if any, during the vesting period, entitle participants to receive, at the time of vesting, one share of common stock for each RSU. The awards vest annually, generally over a period not to exceed 5 years, and do not have voting or dividend rights.

The table below summarizes the weighted-average fair value at the date of grant of the RSUs.

2008 2007 2006

Weighted-average fair value

$ 18.06 $ 25.65 $ 19.98

2008 Restricted Stock Plan Activity

Nonvested
Restricted
Share Unit

Awards

(in thousands)

Weighted-
Average Grant
Date Fair Value

Class A Common Stock

Nonvested awards as of January 1, 2008

16,456 $ 21.97

Granted

8,652 $ 18.06

Vested

(3,342 ) $ 21.64

Forfeited

(1,430 ) $ 20.87

Nonvested awards as of December 31, 2008

20,336 $ 19.64

The table below summarizes information on vested RSUs.

Year ended December 31 (in millions) 2008 2007 2006

Fair value of RSUs vested

$ 65 $ 75 $ 32

Tax benefit of RSUs vested

$ 23 $ 24 $ 9

The restricted stock plan also provides certain employees and directors the opportunity to defer the receipt of shares of Class A or Class A Special common stock that would otherwise be deliverable when their RSUs vest. As of December 31, 2008, approximately 941,000 and 89,000 shares of Class A common stock and Class A Special common stock, respectively, were issuable under vested RSU awards, the receipt of which was irrevocably deferred by participants.

This excerpt taken from the CMCSA 10-K filed Feb 20, 2008.

Restricted Stock Plan

We maintain a restricted stock plan under which certain employees and directors (“Participants”) may be granted RSU awards in Class A or Class A Special common stock (the “Restricted Stock Plan”). Under our Restricted Stock Plan, approximately 38 million shares of our Class A and Class A Special common stock are reserved for issuance under the plan, including those outstanding as of December 31, 2007. Awards of RSUs, valued by reference to the closing price on the date of grant of shares of common stock, entitle Participants to receive, upon the settlement of the unit, one share of common stock for each unit. The awards vest annually, generally over a period not to exceed five years from the date of the award, and do not have voting or dividend rights.

The table below summarizes the weighted-average fair value at the date of grant of the RSUs:

2007 2006 2005

Weighted-average fair value

$ 25.65 $ 19.98 $ 22.13

The following table summarizes the activity of the Restricted Stock Plan for the year ended December 31, 2007:

Number of Nonvested
Restricted Share Unit

Awards (in thousands)

Weighted-
Average Grant
Date Fair Value

Class A Common Stock

Nonvested awards as of January 1, 2007

13,484 $ 20.78

Granted

6,763 $ 25.65

Vested

(2,837 ) $ 20.75

Forfeited

(954 ) $ 21.43

Nonvested awards as of December 31, 2007

16,456 $ 21.97

The total fair value of RSUs vested during the years ended December 31, 2007, 2006 and 2005 was $75 million, $32 million and $28 million, respectively. As of December 31, 2007, approximately 898,000 and 111,000 shares of Class A common stock and Class A Special common stock, respectively, were issuable under vested RSU awards, the receipt of which was irrevocably deferred by Participants under the Restricted Stock Plan.

This excerpt taken from the CMCSA 10-K filed Feb 26, 2007.

Restricted Stock Plan

We maintain a restricted stock plan under which certain employees and directors (“Participants”) may be granted restricted share unit awards in our Class A or Class A Special common stock (the “Restricted Stock Plan”). Under our Restricted Stock Plan, approximately 40 million shares (adjusted to reflect the Stock Split) of our Class A and Class A Special common stock are reserved for issuance pursuant to awards under the plan, including those outstanding as of December 31, 2006. Awards of restricted share units are valued by reference to shares of common stock that entitle Participants to receive, upon the settlement of the unit, one share of common stock for each unit. The awards vest annually, generally over a period not to exceed five years from the date of the award, and do not have voting rights.

The following table summarizes the weighted-average fair value at date of grant (adjusted to reflect the Stock Split) and the compensation expense recognized related to restricted share unit awards:

2006 2005 2004

Weighted-average fair value

$ 19.98 $ 22.13 $ 20.73

Compensation expense recognized (in millions)

$ 62 $ 57 $ 33

59 Comcast 2006 Annual Report Notes to Consolidated Financial Statements


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The following table summarizes the activity of the Restricted Stock Plan for the year ended December 31, 2006 (adjusted to reflect the Stock Split):

Number of Nonvested
Share Unit Awards

(in thousands)

Weighted-
Average Grant
Date Fair Value

Class A Common Stock

Nonvested awards as of January 1, 2006

8,474 $ 21.70

Granted

7,539 $ 19.98

Vested

(1,635 ) $ 21.90

Forfeited

(894 ) $ 20.76

Nonvested awards as of December 31, 2006

13,484 $ 20.78

Class A Special Common Stock

Nonvested awards as of January 1, 2006

104 $ 24.46

Vested

(103 ) $ 24.75

Nonvested awards as of December 31, 2006

1 $ 18.31

As of December 31, 2006, approximately 605,000 and 145,000 shares (adjusted to reflect the Stock Split) of Class A common stock and Class A Special common stock, respectively, were issuable under vested restricted share unit awards, the receipt of which was irrevocably deferred by Participants pursuant to the Restricted Stock Plan.

This excerpt taken from the CMCSA 10-Q filed Oct 31, 2006.

Restricted Stock Plan

We maintain a restricted stock plan under which certain employees and directors (“Participants”) may be granted restricted share unit awards in our Class A or Class A Special common stock (the “Restricted Stock Plan”). Under our Restricted Stock Plan, approximately 27 million shares of our Class A and Class A Special common stock are reserved for issuance pursuant to awards under the plan, including those outstanding as of September 30, 2006. Awards of restricted share units are valued by reference to shares of common stock that entitle Participants to receive, upon the settlement of the unit, one share of common stock for each unit. The awards vest annually, generally over a period not to exceed five years from the date of the award, and do not have voting rights.

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COMCAST CORPORATION AND SUBSIDIARIES — FORM 10-Q

QUARTER ENDED SEPTEMBER 30, 2006

The following table summarizes the weighted-average fair value at date of grant and the compensation expense recognized related to restricted share unit awards:

Three Months Ended
September 30,
Nine Months
Ended
September 30,
2006 2005 2006 2005

Weighted-average fair value

$ 34.04 $ 30.30 $ 29.62 $ 33.50

Compensation expense recognized (in millions)

$ 18 $ 16 $ 47 $ 40

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COMCAST CORPORATION AND SUBSIDIARIES — FORM 10-Q

QUARTER ENDED SEPTEMBER 30, 2006

The following table summarizes the activity of the Restricted Stock Plan for the nine months ended September 30, 2006:

Number of Nonvested
Share Unit Awards

(in thousands)

Weighted-
Average Grant
Date Fair Value

Class A Common Stock

Unvested awards as of January 1, 2006

5,649 $ 32.55

Awards granted

4,862 $ 29.62

Awards vested

(1,050 ) $ 32.73

Awards forfeited

(476 ) $ 31.16

Unvested awards as of September 30, 2006

8,985 $ 30.96

Class A Special Common Stock

Unvested awards as of January 1, 2006

69 $ 36.69

Awards vested

(68 ) $ 37.13

Unvested awards as of September 30, 2006

1 $ 27.47

As of September 30, 2006, 381,000 and 96,000 shares of Class A common and Class A Special common stock, respectively, were issuable under vested restricted share unit awards, the receipt of which was irrevocably deferred by Participants pursuant to the Restricted Stock Plan.

This excerpt taken from the CMCSA 10-Q filed Apr 28, 2006.

Restricted Stock Plan

We maintain a restricted stock plan under which certain employees and directors (“Participant”) may be granted restricted share unit awards in our Class A or Class A Special common stock (the “Restricted Stock Plan”). Awards of restricted share units are valued by reference to shares of common stock that entitle a Participant to receive, upon the settlement of the unit, one share of common stock for each unit. The awards vest annually, generally over a period not to exceed five years from the date of the award, and do not have voting rights.

The following table summarizes the activity of the Restricted Stock Plan for the three months ended March 31, 2006:

(share unit awards in thousands)


Number of Non-Vested
Share Unit Awards


Weighted-
Average Grant
Date Fair Value


Class A Common Stock

Unvested awards at January 1, 2006

5,649 $ 32.55

Granted

4,516 $ 26.49

Awards vested

(908 ) $ 32.91

Forfeited

(72 ) $ 32.12


Unvested awards at March 31, 2006

9,185 $ 30.76




Class A Special Common Stock

Unvested awards at January 1, 2006

69 $ 36.69

Awards vested

(68 ) $ 37.13


Unvested awards at March 31, 2006

1 $ 27.47




The weighted-average fair value at date of grant of a restricted share unit award granted during the three months ended March 31, 2005 was $33.92. Compensation expense recognized related to restricted share unit awards for the three months ended March 31, 2006 and 2005 was $12 million and $5 million, respectively.

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COMCAST CORPORATION AND SUBSIDIARIES

FORM 10-Q

QUARTER ENDED MARCH 31, 2006

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Unaudited)

At March 31, 2006, there was $141 million of total unrecognized pre-tax compensation cost related to non-vested restricted share unit awards, excluding approximately 2.6 million awards for which a grant date is not deemed to have occurred for accounting purposes. This cost is expected to be recognized over a weighted-average period of approximately two years. The total fair value of restricted share units vested during the three months ended March 31, 2006 was $26 million.

At March 31, 2006, 381,000 and 96,000 shares of Class A common and Class A Special common stock, respectively, were issuable under vested restricted share unit awards, the receipt of which was irrevocably deferred by Participants pursuant to the Restricted Stock Plan.