Quarterly report pursuant to Section 13 or 15(d)

Stock Options and Restricted Stock

v2.4.0.8
Stock Options and Restricted Stock
 9 Months Ended
Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Options and Restricted Stock
Stock Options and Restricted Stock
        
Starz has granted to certain of its employees and directors, stock options to purchase Series A common stock and restricted shares of Series A common stock pursuant to the Starz incentive plans. As of September 30, 2014, the total unrecognized compensation cost related to the unvested stock options and restricted stock was approximately $58.9 million. Such amount will be recognized in Starz’s condensed consolidated statements of operations over a weighted average period of approximately 2.32 years.

The following table presents the number and weighted average exercise price (“WAEP”) of stock options to purchase Starz common stock:
 
Options
 
WAEP
Outstanding at December 31, 2013
18,765,137

 
$
15.41

Granted
45,983

 
$
30.39

Exercised
(2,015,280
)
 
$
12.27

Forfeited
(463,277
)
 
$
15.29

Expired/canceled
—

 
$
—

Outstanding at September 30, 2014
16,332,563

 
$
15.84

 
 
 
 
Exercisable at September 30, 2014
6,859,183

 
$
13.55



At September 30, 2014, the weighted-average remaining contractual term of outstanding options is 5.6 years and exercisable options is 4.5 years. At September 30, 2014, the aggregate intrinsic value of the outstanding options is $281.6 million and the exercisable options is $134.0 million.

The following table presents the number and weighted-average grant date fair value of restricted stock grants:
 
Restricted Stock
 
Weighted
Average Grant-Date Fair Value
Outstanding at December 31, 2013
1,438,909

 
$
16.52

Granted
17,044

 
$
30.75

Vested
(311,496
)
 
$
15.00

Forfeited
(15,943
)
 
$
18.77

Outstanding at September 30, 2014
1,128,514

 
$
17.12


At September 30, 2014, 3.0 million of outstanding stock options and 0.7 million restricted shares were held by Liberty Media employees as a result of the LMC Spin-Off.