| Schedule of number and weighted average GDFV of awards granted |
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For the Years ended December 31, |
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2023 |
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2022 |
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2021 |
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Awards Granted (000's) |
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Weighted Average GDFV |
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Awards Granted (000's) |
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Weighted Average GDFV |
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Awards Granted (000's) |
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Weighted Average GDFV |
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Series A common stock options, subsidiary employees (1) |
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NA |
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NA |
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NA |
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NA |
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974 |
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$ |
6.75 |
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Series A common stock options, Qurate Retail employees and directors (2) |
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NA |
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NA |
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NA |
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NA |
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63 |
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$ |
6.18 |
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Series A common stock options, David Rawlinson II (3) |
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NA |
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NA |
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NA |
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NA |
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1,185 |
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$ |
5.02 |
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Series A common stock RSUs, subsidiary employees (4) |
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3,519 |
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$ |
0.93 |
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17,302 |
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$ |
3.82 |
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5,670 |
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$ |
12.07 |
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Series A common stock RSUs, Qurate Retail employees and directors (5) |
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680 |
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$ |
1.40 |
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899 |
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$ |
2.72 |
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309 |
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$ |
10.30 |
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Series A common stock RSUs, David Rawlinson II (6) |
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1,869 |
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$ |
1.51 |
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596 |
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$ |
4.91 |
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652 |
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$ |
10.50 |
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Series A common stock RSUs, Mike George (7) |
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NA |
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NA |
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NA |
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NA |
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1,107 |
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$ |
12.86 |
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Series A common stock RSUs, Qurate Retail Chairman of the Board (8) |
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NA |
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NA |
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NA |
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NA |
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229 |
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$ |
12.90 |
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Series B common stock RSUs, Qurate Retail Chairman of the Board (8) |
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353 |
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$ |
5.51 |
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327 |
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$ |
4.95 |
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1,101 |
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$ |
13.65 |
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| (1) |
Vests semi-annually over four years.
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| (2) |
Vests between two and three years.
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| (3) |
Vested 50% on December 31, 2023 and vests 50% on December 31, 2024. Grant was made in connection with Mr. Rawlinson’s employment agreement (see note 10).
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| (4) |
Grants made in 2023 vest between one and three years. Grants made in 2022 generally vest annually over three years. Grants made in 2021 generally vest annually over four years.
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| (5) |
Grants mainly vest in one year for directors and one year from the month of grant for employees, subject to the satisfaction of certain performance objectives.
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| (6) |
Grant made in 2023 vests one year from the month of grant and grant made in 2022 cliff vested in March 2023, subject to the satisfaction of certain performance objectives. Qurate Retail granted 509 thousand time-based RSUs and 143 thousand performance-based RSUs of QRTEA to Mr. Rawlinson in 2021. The time-based RSUs vest over three years, and the performance-based RSUs cliff vested in March 2022, subject to the satisfaction of certain performance objectives and based on an amount determined by the compensation committee. Grants were made in connection with Mr. Rawlinson’s employment agreement (see note 10).
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| (7) |
Qurate Retail granted to Mr. George 684 thousand performance-based RSUs and 423 thousand time-based RSUs of QRTEA in 2021. The time-based RSUs cliff vested on December 10, 2021, and the performance-based RSUs granted to Mr. George cliff vested one year from the month of grant, subject to the satisfaction of certain performance objectives and based on an amount determined by the compensation committee. Mr. George stepped down as President of the Company effective August 1, 2021 and as CEO effective October 1, 2021.
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| (8) |
Qurate Retail granted 353 thousand and 327 thousand performance-based RSUs of QRTEB in 2023 and 2022,
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respectively, and Qurate Retail granted 229 thousand performance-based RSUs of QRTEA in 2021. These grants vest one year from the month of the grant, subject to the satisfaction of certain performance objectives. Grants were made in connection with our Chairman’s employment agreement. Qurate Retail also granted 1.1 million time-based RSAs of QRTEB to our Chairman in 2021 as a result of the Letter Agreement discussed in Note 10 which vest in two equal tranches on December 10, 2024 and June 3, 2026, subject to earlier vesting under certain circumstances.
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| Schedule of number, weighted average exercise price ("WAEP"), Weighted average remaining life and aggregate intrinsic value of the awards |
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Qurate Retail |
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Series A |
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Series B |
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Weighted |
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Aggregate |
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Weighted |
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Aggregate |
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average |
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intrinsic |
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average |
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intrinsic |
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Options |
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remaining |
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value |
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Options |
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remaining |
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value |
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(000's) |
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WAEP |
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life |
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(in millions) |
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(000's) |
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WAEP |
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life |
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(in millions) |
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Options outstanding at January 1, 2023 |
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32,914 |
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$ |
8.78 |
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2,221 |
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$ |
12.25 |
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Granted |
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— |
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$ |
— |
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— |
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$ |
— |
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Exercised |
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(14) |
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$ |
2.17 |
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— |
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$ |
— |
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Forfeited/Cancelled |
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(9,370) |
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$ |
11.44 |
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(1,498) |
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$ |
12.20 |
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Options outstanding at December 31, 2023 |
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23,530 |
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$ |
7.72 |
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2.5 |
years |
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$ |
— |
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723 |
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$ |
12.35 |
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0.9 |
years |
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$ |
— |
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Options exercisable at December 31, 2023 |
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20,548 |
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$ |
7.75 |
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2.3 |
years |
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$ |
— |
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723 |
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$ |
12.35 |
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0.9 |
years |
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$ |
— |
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| Schedule of number and weighted average GDFV of RSUs granted to certain officers, employees and directors |
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Weighted |
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Weighted |
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Series A |
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Average |
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Series B |
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Average |
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(000's) |
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GDFV |
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(000's) |
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GDFV |
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RSUs outstanding at January 1, 2023 |
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23,166 |
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$ |
5.09 |
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327 |
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$ |
4.95 |
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Granted |
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6,068 |
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$ |
1.16 |
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353 |
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$ |
5.51 |
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Vested |
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(8,700) |
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$ |
5.22 |
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(327) |
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$ |
4.95 |
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Forfeited/Cancelled |
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(5,843) |
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$ |
5.33 |
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— |
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$ |
— |
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RSUs outstanding at December 31, 2023 |
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14,691 |
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$ |
3.30 |
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353 |
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$ |
5.51 |
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