Annual report pursuant to Section 13 and 15(d)

Stock Options and Other Share-Based Awards (Tables)

v2.4.1.9
Stock Options and Other Share-Based Awards (Tables)
 12 Months Ended
Dec. 31, 2014
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 QVCA options granted to QVC employees and officers as of and during the year ended December 31, 2014 is presented below:
Options

Weighted
average
exercise
price

Aggregate
intrinsic
value
(000s)

Weighted average remaining
life
(years)
Outstanding at January 1, 2014
15,638,139

$
17.01

$
192,975

4.4
Granted
1,819,559

26.90




Exercised
(3,784,111
)
14.42




Forfeited
(1,007,491
)
19.31




Net effect of 2014 Reattribution
512,995

16.36




Outstanding at December 31, 2014
13,179,091

17.34

159,203

3.7
Exercisable at December 31, 2014
7,325,843

14.94

106,078

2.9
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, 2014 is presented below:
Options

Weighted average exercise
price

Aggregate intrinsic
value (000s)

Weighted average remaining
life (years)
Outstanding at January 1, 2014
441,212

$
29.40

$
14,072

3.6
Granted
—

—




Exercised
(106,709
)
16.02




Forfeited
—

—




Adjustment for TripAdvisor Holdings Spin-Off
6,736

14.86




Net effect of 2014 Reattribution
612,138

22.31




Outstanding at December 31, 2014
953,377

19.51

17,361

2.8
Exercisable at December 31, 2014
597,523

19.70

10,767

2.6
Schedule of stock options valuation assumptions
During the years ended December 31, 2014, 2013 and 2012, the fair value of each QVCA option was determined as of the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:
2014

2013

2012

Expected volatility
38.7
%
38.3
%
41.9
%
Expected term (years)
6.3

6.2

5.2

Risk free interest rate
2.0
%
1.1
%
0.8
%
Expected dividend yield
—

—

—

During the years ended December 31, 2014, 2013 and 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 weighted average assumptions:
2014

2013

2012

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 QVCA restricted shares granted to QVC employees and officers as of and during the year ended December 31, 2014 is presented below:
Restricted Shares

Weighted average
grant date fair value

Outstanding at January 1, 2014
1,214,462

$
17.62

Granted
328,887

24.86

Vested
(460,069
)
14.79

Forfeited
(48,154
)
17.79

Outstanding at December 31, 2014
1,035,126

19.29

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, 2014 is presented below:
Restricted Shares

Weighted
Average
Grant Date Fair Value

Outstanding at January 1, 2014
64,158

19.34

Granted
—

—

Vested
(34,718
)
9.01

Forfeited
(2,445
)
14.98

Net effect of 2014 Reattribution
146,798

23.13

Outstanding at December 31, 2014
173,793

22.13