|
Stock-Based Compensation (Tables)
|
12 Months Ended |
|
Dec. 31, 2012
|
| Stock-Based Compensation |
|
| Schedule of stock awards outstanding |
|
|
|
As of December 31, 2012 |
|
|
|
|
EchoStar Awards |
|
DISH Network Awards |
|
|
|
|
Stock
Options |
|
Restricted
Stock
Units |
|
Stock
Options |
|
Restricted
Stock
Units |
|
|
Held by EchoStar employees |
|
6,798,432 |
|
106,063 |
|
2,215,313 |
|
94,999 |
|
|
Held by DISH Network employees |
|
1,109,868 |
|
45,620 |
|
— |
|
— |
|
|
Total outstanding stock awards |
|
7,908,300 |
|
151,683 |
|
2,215,313 |
|
94,999 |
|
|
| Schedule of exercise prices for stock options outstanding and exercisable |
|
|
|
Options Outstanding |
|
Options Exercisable |
|
|
Price Range |
|
Number
Outstanding as
of December
31, 2012 |
|
Weighted-
Average
Remaining
Contractual
Term
(In Years) |
|
Weighted-
Average
Exercise
Price |
|
Number
Exercisable as
of December
31, 2012 |
|
Weighted-
Average
Remaining
Contractual
Term
(In Years) |
|
Weighted-
Average
Exercise
Price |
|
|
$0.00 - $10.00 |
|
3,666 |
|
3 |
|
$ |
2.15 |
|
3,666 |
|
3 |
|
$ |
2.15 |
|
|
$10.01 - $15.00 |
|
587,033 |
|
6 |
|
$ |
14.83 |
|
202,633 |
|
6 |
|
$ |
14.83 |
|
|
$15.01 - $20.00 |
|
796,565 |
|
7 |
|
$ |
18.82 |
|
249,565 |
|
7 |
|
$ |
18.65 |
|
|
$20.01 - $25.00 |
|
1,931,812 |
|
5 |
|
$ |
22.15 |
|
1,160,212 |
|
6 |
|
$ |
21.05 |
|
|
$25.01 - $30.00 |
|
2,354,903 |
|
5 |
|
$ |
28.59 |
|
1,614,103 |
|
4 |
|
$ |
28.77 |
|
|
$30.01 - $35.00 |
|
485,601 |
|
9 |
|
$ |
33.89 |
|
59,501 |
|
4 |
|
$ |
31.93 |
|
|
$35.01 - $40.00 |
|
1,748,720 |
|
8 |
|
$ |
37.14 |
|
456,486 |
|
7 |
|
$ |
37.03 |
|
|
|
|
7,908,300 |
|
6 |
|
$ |
27.21 |
|
3,746,166 |
|
6 |
|
$ |
25.98 |
|
| Schedule of stock option activity |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2012 |
|
2011 |
|
2010 |
|
|
|
|
Options |
|
Weighted-
Average
Exercise
Price |
|
Options |
|
Weighted-
Average
Exercise
Price |
|
Options |
|
Weighted-
Average
Exercise
Price |
|
|
Total options outstanding, beginning of period |
|
8,078,413 |
|
$ |
26.30 |
|
7,795,373 |
|
$ |
23.24 |
|
7,203,101 |
|
$ |
24.85 |
|
|
Granted |
|
771,000 |
|
$ |
30.81 |
|
1,955,000 |
|
$ |
36.01 |
|
1,258,000 |
|
$ |
19.15 |
|
|
Exercised |
|
(569,073 |
) |
$ |
20.02 |
|
(1,082,280 |
) |
$ |
23.59 |
|
(105,573 |
) |
$ |
15.06 |
|
|
Forfeited and cancelled |
|
(372,040 |
) |
$ |
25.71 |
|
(589,680 |
) |
$ |
23.07 |
|
(560,155 |
) |
$ |
33.99 |
|
|
Total options outstanding, end of period |
|
7,908,300 |
|
$ |
27.21 |
|
8,078,413 |
|
$ |
26.30 |
|
7,795,373 |
|
$ |
23.24 |
|
|
Performance-based options outstanding, end of period (1) |
|
632,100 |
|
$ |
25.28 |
|
658,700 |
|
$ |
25.30 |
|
697,100 |
|
$ |
25.38 |
|
|
Exercisable at end of period |
|
3,746,166 |
|
$ |
25.98 |
|
2,854,272 |
|
$ |
25.02 |
|
2,722,709 |
|
$ |
25.77 |
|
(1) These stock options are included in the caption “Total options outstanding, end of period.” See discussion of the 2005 LTIP below.
(2) Granted options for the year ended December 31, 2011 was corrected in the fourth quarter of 2012 to exclude 700,000 options which had not been validly granted in 2011.
|
| Schedule of restricted stock unit activity |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2012 |
|
2011 |
|
2010 |
|
|
|
|
Restricted
Stock
Units |
|
Weighted-
Average
Grant Date
Fair Value |
|
Restricted
Stock
Units |
|
Weighted-
Average
Grant Date
Fair Value |
|
Restricted
Stock
Units |
|
Weighted-
Average
Grant Date
Fair Value |
|
|
Total restricted stock units outstanding, beginning of period |
|
144,226 |
|
$ |
29.22 |
|
107,249 |
|
$ |
27.33 |
|
130,040 |
|
$ |
27.78 |
|
|
Granted |
|
33,333 |
|
$ |
34.22 |
|
69,950 |
|
$ |
32.00 |
|
— |
|
$ |
— |
|
|
Vested |
|
(16,210 |
) |
$ |
32.61 |
|
(11,225 |
) |
$ |
31.84 |
|
(13,975 |
) |
$ |
31.84 |
|
|
Forfeited and cancelled |
|
(9,666 |
) |
$ |
25.84 |
|
(21,748 |
) |
$ |
27.36 |
|
(8,816 |
) |
$ |
26.70 |
|
|
Total restricted stock units outstanding, end of period |
|
151,683 |
|
$ |
30.18 |
|
144,226 |
|
$ |
29.22 |
|
107,249 |
|
$ |
27.33 |
|
|
Restricted Performance Units outstanding, end of period (1) |
|
64,610 |
|
$ |
26.72 |
|
74,276 |
|
$ |
26.61 |
|
93,274 |
|
$ |
26.66 |
|
(1) These Restricted Performance Units are included in the caption “Total restricted stock units outstanding, end of period.” See discussion of the 2005 LTIP below.
|
| Schedule of unrecognized non-cash, stock-based compensation expense under the 2005 LTIP |
|
|
|
2005 LTIP |
|
|
|
|
|
|
Vested |
|
|
|
|
Total |
|
Portion (1) |
|
|
|
|
(In thousands) |
|
|
DISH Network awards held by EchoStar employees |
|
$ |
16,293 |
|
$ |
16,159 |
|
|
EchoStar awards held by EchoStar employees |
|
2,947 |
|
2,923 |
|
|
Total |
|
$ |
19,240 |
|
$ |
19,082 |
|
(1) Represents the amount of this award that has met the foregoing vesting schedule and would therefore vest upon achievement of the performance condition.
|
| Schedule of allocated non-cash, stock-based compensation expense for all employees |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2012 |
|
2011 |
|
2010 |
|
|
|
|
(In thousands) |
|
|
Research and development expenses |
|
$ |
2,755 |
|
$ |
2,411 |
|
$ |
3,579 |
|
|
Selling, general and administrative expenses |
|
11,830 |
|
13,653 |
|
9,967 |
|
|
Total non-cash, stock-based compensation |
|
$ |
14,585 |
|
$ |
16,064 |
|
$ |
13,546 |
|
|
| Schedule of assumptions of Black-Scholes option valuation model |
|
|
|
For the Years Ended December 31, |
|
|
Stock Options |
|
2012 |
|
2011 |
|
2010 |
|
|
Risk-free interest rate |
|
0.82% - 1.33% |
|
1.08%-2.57% |
|
1.64% - 2.97% |
|
|
Volatility factor |
|
40.36% - 41.12% |
|
34.68% - 38.92% |
|
31.00% - 32.73% |
|
|
Expected term of options in years |
|
5.9 - 6.0 |
|
5.1 - 6.0 |
|
6.1 - 6.2 |
|
|
Weighted-average grant-date fair value |
|
$10.60 - $13.70 |
|
$8.07 - $14.42 |
|
$6.44 - $9.11 |
|