Annual report pursuant to Section 13 and 15(d)

Stock Options and Other Share-Based Awards Stock Options and Other Share- Based Awards (Tables)

v3.3.1.900
Stock Options and Other Share-Based Awards Stock Options and Other Share- Based Awards (Tables)
 12 Months Ended
Dec. 31, 2015
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, 2015 is presented below:
 
Options

Weighted
average
exercise
price

Aggregate
intrinsic
value
(000s)

Weighted average remaining
life
(years)
Outstanding at January 1, 2015
13,179,091

$
17.34

$
159,203

3.7
Granted
3,682,393

27.88

 
 
Exercised
(3,648,782
)
14.80

 
 
Forfeited
(700,892
)
23.30

 
 
Outstanding at December 31, 2015
12,511,810

20.84

84,982

4.1
Exercisable at December 31, 2015
7,118,212

17.15

72,871

2.7
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, 2015 is presented below:
 
Options

Weighted average exercise
price

Aggregate intrinsic
value (000s)

Weighted average remaining
life (years)
Outstanding at January 1, 2015
953,377

$
19.51

$
17,361

2.8
Granted
—

—

 
 
Exercised
(277,672
)
20.67

 
 
Forfeited
—

—

 
 
Outstanding at December 31, 2015
675,705

19.04

17,618

2.2
Exercisable at December 31, 2015
675,705

19.04

17,618

2.2
Schedule of stock options valuation assumptions
During the years ended December 31, 2015, 2014 and 2013, 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:
2015

2014

2013

Expected volatility
39.7
%
38.7
%
38.3
%
Expected term (years)
5.9

6.3

6.2

Risk free interest rate
1.7
%
2
%
1.1
%
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, 2015 is presented below:
Restricted Shares

Weighted average
grant date fair value

Outstanding at January 1, 2015
1,035,126

$
20.09

Granted
368,844

29.22

Vested
(348,383
)
21.47

Forfeited
(258,416
)
11.66

Outstanding at December 31, 2015
797,171

26.44

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, 2015 is presented below:
Restricted Shares

Weighted
Average
grant Date Fair Value

Outstanding at January 1, 2015
173,793

$
22.70

Granted
—

—

Vested
(65,268
)
21.24

Forfeited
(35,303
)
21.42

Outstanding at December 31, 2015
73,222

24.68