Annual report pursuant to Section 13 and 15(d)

Stock Options and Other Share-Based Awards (Tables)

v2.4.0.8
Stock Options and Other Share-Based Awards (Tables)
 12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock options activity
A summary of the activity of the Liberty Incentive Plan with respect to the LINTA Options granted to QVC employees and officers as of and during the year ended December 31, 2013 is presented below:
Options

Weighted
average
exercise
price

Aggregate
intrinsic
value
(000s)

Weighted average remaining
life
(years)
Outstanding at January 1, 2013
14,741,992

14.53

75,897

4.6
Granted
4,187,768

21.08




Exercised
(2,776,282
)
10.19




Forfeited
(515,339
)
15.87




Outstanding at December 31, 2013
15,638,139

17.01

192,975

4.4
Exercisable at December 31, 2013
5,932,895

13.44

94,400

3.2
A summary of the activity of the Liberty Incentive Plan with respect to the LVNTA Options granted to QVC employees and officers as of and during the year ended December 31, 2013 is presented below:
Options

Weighted average exercise
price

Aggregate intrinsic
value (000s)

Weighted average remaining
life (years)
Outstanding at January 1, 2013
220,606

58.80

1,977

4.6
Granted
—

—




Exercised
—

—




Forfeited
—

—




Outstanding at December 31, 2013
220,606

58.80

14,072

3.6
Exercisable at December 31, 2013
71,554

58.80

4,564

2.6
Schedule of stock options valuation assumptions
During the years ended December 31, 2013, 2012 and 2011, the fair value of each LINTA Option was determined as of the date of grant using the Black‑Scholes option pricing model with the following assumptions:
2013

2012

2011

Weighted average expected volatility
38.3
%
41.9
%
44.8
%
Expected term (years)
6.2

5.2

5.9

Risk free interest rate
1.1
%
0.8
%
1.2%-2.5%

Expected dividend yield
—

—

—

During the year ended December 31, 2012, the fair value of each LVNTA Option was determined as of the date of grant using the Black‑Scholes option pricing model with the following assumptions:
2012

Weighted average expected volatility
49.9
%
Expected term (years)
4.9

Risk free interest rate
0.6
%
Expected dividend yield
—

Schedule of restricted stock activity
A summary of the activity of the Liberty Incentive Plan with respect to the LINTA restricted shares granted to QVC employees and officers as of and during the year ended December 31, 2013 is presented below:
Restricted Shares

Weighted average
grant date fair value

Outstanding at January 1, 2013
1,454,148

12.75

Granted
450,140

21.44

Lapsed
(608,490
)
9.81

Forfeited
(81,336
)
16.25

Outstanding at December 31, 2013
1,214,462

18.01

A summary of the activity of the Liberty Incentive Plan with respect to the LVNTA restricted shares granted to QVC employees and officers as of and during the year ended December 31, 2013 is presented below:
Restricted Shares

Weighted
Average
Grant Date Fair Value

Outstanding at January 1, 2013
65,542

31.75

Granted
—

—

Lapsed
(30,007
)
23.64

Forfeited
(3,456
)
37.84

Outstanding at December 31, 2013
32,079

38.68