Annual report pursuant to Section 13 and 15(d)

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

v3.6.0.2
Stock Options and Other Share-Based Awards Stock Options and Other Share- Based Awards (Tables)
 12 Months Ended
Dec. 31, 2016
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, 2016 is presented below:
 
Options

Weighted
average
exercise
price

Aggregate
intrinsic
value
(000s)

Weighted average remaining
life
(years)
Outstanding at January 1, 2016
12,511,526

$
20.84

$
84,977

4.1
Granted
2,903,406

26.12

 
 
Transferred from zulily (1)
549,039

17.59

 
 
Exercised
(2,550,317
)
14.48

 
 
Forfeited
(877,255
)
26.87

 
 
Outstanding at December 31, 2016
12,536,399

22.80

16,511

4.2
Exercisable at December 31, 2016
6,736,741

19.71

16,240

2.9
(1) During year ended December 31, 2016, employees were transferred to QVC from zulily and are now employed by QVC. The row represents employees' previous grants prior to being a QVC employee.
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, 2016 is presented below:
 
Options

Weighted average exercise
price

Aggregate intrinsic
value (000s)

Weighted average remaining
life (years)
Outstanding at January 1, 2016
675,705

$
19.04

$
17,618

2.2
Adjustment for CommerceHub Spin-Off
(2,986
)
16.51

 
 
Adjustment for Expedia Holdings Split-Off
(225,423
)
20.12

 
 
Granted
—

—

 
 
Exercised
(144,829
)
22.31

 
 
Forfeited
—

—

 
 
Outstanding at December 31, 2016
302,467

16.69

6,104

1.2
Exercisable at December 31, 2016
302,467

16.69

6,104

1.2
Schedule of stock options valuation assumptions
During the years ended December 31, 2016, 2015 and 2014, 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:
2016

2015

2014

Expected volatility
27.4
%
39.7
%
38.7
%
Expected term (years)
6.1

5.9

6.3

Risk free interest rate
1.6
%
1.7
%
2
%
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, 2016 is presented below:
Restricted shares

Weighted average
grant date fair value

Outstanding at January 1, 2016
797,171

$
26.44

Granted
534,250

25.86

Transferred from zulily (1)
36,684

24.12

Vested
(332,576
)
24.32

Forfeited
(127,703
)
27.41

Outstanding at December 31, 2016
907,826

26.65

(1) During year ended December 31, 2016, employees were transferred to QVC from zulily and are now employed by QVC. The row represents employees' previous grants prior to being a QVC employee.
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, 2016 is presented below:
Restricted shares

Weighted
average
grant date fair value

Outstanding at January 1, 2016
73,222

$
24.68

Adjustment for Expedia Holdings Split-off
(10,612
)
—

Granted
—

—

Vested
(43,761
)
22.65

Forfeited
(4,957
)
34.11

Outstanding at December 31, 2016
13,892

46.57