SEC Filings
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| 10-K | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| HRG GROUP, INC. filed this Form 10-K on 11/23/2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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of $32.0 vested. The total intrinsic value of share options exercised during Fiscal 2015 was $4.0, for which HRG received cash of $4.1 in settlement. During Fiscal 2014, HRG granted stock option awards, restricted stock awards and restricted stock units representing approximately 1,356 thousand, 3,325 thousand and 7 thousand shares, respectively. All of these grants are time based, and vest over a period of up to 3 years. The total fair value of the stock grants during Fiscal 2014 on their respective grant dates was approximately $46.7. During Fiscal 2014, stock option awards, restricted stock awards and restricted stock units with a total fair value of $15.2 vested. The total intrinsic value of share options exercised during Fiscal 2014 was $3.6, for which HRG received cash of $2.8 in settlement. In March 2014, the Company awarded warrants to HRG’s former Chief Executive Officer, Philip Falcone, representing the right to purchase approximately 3.0 million shares of HRG’s common stock, at an exercise price of $13.13 per share. A portion of the warrants, representing 600 thousand shares, vested immediately upon approval of the grant, and the remainder would vest over a period of 4 years. The estimated grant date fair value of this award was $9.6. As of September 30, 2016, there was approximately $4.7 of total unrecognized compensation cost related to unvested share-based compensation agreements previously granted, which is expected to be recognized over a weighted-average period of 0.94 years. The following assumptions were used in the determination of these grant date fair values using the Black-Scholes option pricing model:
The weighted-average remaining contractual term of outstanding stock option awards and warrants at September 30, 2016, was 6.70 years. Spectrum Brands On October 21, 2010, Spectrum Brands’ board of directors adopted the Spectrum Brands Holdings, Inc. 2011 Omnibus Equity Award Plan (the “2011 Plan”). During Fiscal 2014, the 2011 Plan was amended to increase the shares issuable to 5,626 thousand shares of common stock of Spectrum Brands, net of cancellations. Spectrum Brands granted restricted stock units representing approximately 590 thousand shares during Fiscal 2016. Of these grants, 423 thousand restricted stock units are performance and time-based and vest immediately or within 12 months, and the remaining 167 thousand restricted stock units vest within a 2 year period. The total market value of the restricted shares on the date of the grant was approximately $56.0. Spectrum Brands granted restricted stock units representing approximately 573 thousand shares during Fiscal 2015. Of these grants, 119 thousand restricted stock units vested immediately or within 12 months and 160 thousand restricted stock units are time-based and vest over a period of 1 year. The remaining 294 thousand restricted stock units are performance-based and vest over a period of up to 2 years. The total market value of the restricted shares on the date of the grant was approximately $52.9. Spectrum Brands granted restricted stock units representing approximately 669 thousand shares during Fiscal 2014. Of these grants, 203 thousand restricted stock units vested immediately or within 12 months and 143 thousand restricted stock units are time-based and vest over a period of 1 year. The remaining 323 thousand restricted stock units are performance-based and vest over 2 years. The total market value of the restricted shares on the date of the grant was approximately $50.5. (19) Income Taxes Income tax expense (benefit) was calculated based upon the following components of income (loss) from continuing operations before income taxes:
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