Annual report pursuant to Section 13 and 15(d)

Stock Compensation (Tables)

v3.3.1.900
Stock Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
Stock compensation expense, by expense category, consisted of the following (in millions):
 
Years ended December 31,
 
2015
 
2014
 
2013
Programming
$
2.6

 
$
2.4

 
$
1.6

Operating
0.3

 
0.3

 
0.2

Selling, general and administrative
30.0

 
27.9

 
32.5

 
$
32.9

 
$
30.6

 
$
34.3

Schedule of Share-based Compensation, Historical Award Activity
Awards granted in 2015, 2014 and 2013 were as follows:

 
Options
Granted
 
Weighted
Average Grant-Date Fair Value
2015 Awards:
 
 
 
Stock options
731,263
 
$
11.12

Restricted shares
443,710
 
$
33.57

Restricted stock units
107,070
 
$
34.85

2014 Awards:
 
 
 
Stock options
1,424,612
 
$
10.94

Restricted shares
148,106
 
$
32.94

2013 Awards:
 
 
 
Stock options
7,443,494
 
$
7.84

Restricted shares
574,548
 
$
22.85

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The assumptions used were as follows:

 
2015
 
2014
 
2013
Expected term
4.75
 
4.75
 
4.60 to 6.90
Expected volatility
36.0% to 36.2%
 
35.9% to 36.0%
 
35.9% to 41.4%
Risk-free rate of return
1.4% to 1.7%
 
1.5%
 
0.7% to 1.4%
Schedule of Share-based Compensation, Stock Options, Activity
The number and weighted average exercise price (“WAEP”) of stock options to purchase Starz common stock were as follows:
 
Options
 
WAEP
Outstanding at December 31, 2014
16,431,666

 
$
17.42

Granted
731,263

 
$
33.33

Exercised
(3,420,547
)
 
$
13.97

Forfeited
(554,840
)
 
$
22.99

Expired/cancelled

 
$

Outstanding at December 31, 2015
13,187,542

 
$
18.97

 
 
 
 
Exercisable at December 31, 2015
8,293,383

 
$
15.85

Schedule of Share-based Compensation, Restricted Stock Units Award Activity
The number and weighted average grant date fair value of restricted share grants were as follows:
 
Restricted Shares
 
Weighted
Average Grant-Date Fair Value
Outstanding at December 31, 2014
708,658

 
$
21.01

Granted
443,710

 
$
33.57

Vested
(361,814
)
 
$
22.72

Forfeited
(20,607
)
 
$
33.85

Outstanding at December 31, 2015
769,947

 
$
29.22