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Stock Compensation | 3 Months Ended
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Jan. 01, 2012
Stock Compensation [Abstract] |
Stock Compensation | (10) Stock Compensation The Company recognized consolidated stock compensation expense as follows:
|  | Three Months Ended |
|  | January 1, 2012 |  |  | January 2, 2011 |
Stock compensation expense |  | $ | 4,450 |  |  | $ | 5,643 |
Related tax benefit |  |  | 1,535 |  |  |  | 1,965 |
Noncontrolling interest |  |  | 1,319 |  |  |  | 1,660 |
Net |  | $ | 1,596 |  |  | $ | 2,018 |
The amounts before taxes and non-controlling interest are included in “Selling, general and administrative expenses” in the accompanying Condensed Consolidated Statements of Operations. HGI HGI granted approximately 75 stock option awards during the three month period ended January 1, 2012. All of these grants are time based, and vest over a period of 3 years. The total market value of the grants on the respective dates of the particular grants was approximately $119. HGI granted approximately 68 restricted share awards during the three month period ended January 1, 2012. All of these grants are time based, and vest over a period of between 7 months and 2 years. The total market value of the grants on the respective dates of the particular grants was approximately $317. HGI granted approximately 22 restricted share unit awards during the three month period ended January 1, 2012. All of these grants are time based, and vest over a period of between 7 months and 1 year. The total market value of the grants on the respective dates of the particular grants was approximately $100. The fair value of restricted share and restricted share unit awards is determined based on the market price of HGI’s shares of common stock on the grant date. The fair value of stock options awards is determined using the Black Scholes option pricing model. The following assumptions were used in the determination of these grant date fair values using the Black-Scholes option pricing model
|  | 2012 |
Risk-free interest rate |  |  | 1.19 | %
Assumed dividend yield |  |  | — |
Expected option term |  |  | 6 years |
Volatility |  |  | 33.0 | %
A summary of HGI’s outstanding stock-based awards as of January 1, 2012, and changes during the period, are as follows:
Stock Option Awards |  | Options |  |  | Weighted Average Exercise Price |
HGI stock options outstanding at September 30, 2011 |  |  | 143 |  |  | $ | 6.77 |
Granted |  |  | 75 |  |  |  | 4.68 |
Exercised |  |  | — |  |  |  | — |
Forfeited or expired |  |  | — |  |  |  | — |
HGI stock options outstanding at January 1, 2012 |  |  | 218 |  |  |  | 6.05 |
Exercisable at January 1, 2012 |  |  | 95 |  |  |  | 6.68 |
Vested or expected to vest at January 1, 2012 |  |  | 218 |  |  | $ | 6.05 |
|  |  | 00,00 |  |  |  | 00,00 |
Restricted Stock Awards |  | Shares |  |  | Weighted Average Grant Date Fair Value |
HGI restricted shares outstanding at September 30, 2011 |  |  | — |  |  | $ | — |
Granted |  |  | 68 |  |  |  | 4.64 |
Exercised |  |  | — |  |  |  | — |
Forfeited or expired |  |  | — |  |  |  | — |
HGI restricted stock outstanding at January 1, 2012 |  |  | 68 |  |  |  | 4.64 |
Vested or expected to vest at January 1, 2012 |  |  | 68 |  |  | $ | 4.64 |
|  |  | 00,00 |  |  |  | 00,00 |
Restricted Stock Units |  | Units |  |  | Weighted Average Grant Date Fair Value |
HGI restricted share units outstanding at September 30, 2011 |  |  | — |  |  | $ | — |
Granted |  |  | 22 |  |  |  | 4.61 |
Exercised |  |  | — |  |  |  | — |
Forfeited or expired |  |  | — |  |  |  | — |
HGI restricted share units outstanding at January 1, 2012 |  |  | 22 |  |  |  | 4.61 |
Exercisable at January 1, 2012 |  |  |  |  |  |  | — |
Vested or expected to vest at January 1, 2012 |  |  | 22 |  |  | $ | 4.61 |
Spectrum Brands Spectrum Brands granted approximately 704 restricted stock units during the three month period ended January 1, 2012. Of these grants, 17 restricted stock units are time-based and vest over a one year period. The remaining 687 restricted stock units are performance and time-based and vest over a two year period. The total market value of the restricted stock units on the dates of the grants was approximately $18,920. The fair value of restricted stock awards and restricted stock units is determined based on the market price of Spectrum Brands’ shares of common stock on the grant date. A summary of the Spectrum Brands’ non-vested restricted stock awards and restricted stock units as of January 1, 2012, and changes during the period, is as follows:
Restricted Stock Awards |  | Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Fair Value at Grant Date |
Restricted Spectrum Brands stock awards at September 30, 2011 |  |  | 123 |  |  | $ | 24.20 |  |  | $ | 2,977 |
Vested |  |  | (97 | ) |  |  | 23.19 |  |  |  | (2,249 | )
Restricted Spectrum Brands stock awards at January 1, 2012 |  |  | 26 |  |  | $ | 28.00 |  |  | $ | 728 |
Restricted Stock Units |  | Units |  |  | Weighted Average Grant Date Fair Value |  |  | Fair Value at Grant Date |
Restricted Spectrum Brands stock units at September 30, 2011 |  |  | 1,645 |  |  | $ | 28.97 |  |  | $ | 47,656 |
Granted |  |  | 704 |  |  |  | 26.88 |  |  |  | 18,920 |
Forfeited |  |  | (4 | ) |  |  | 28.25 |  |  |  | (113 | )
Vested |  |  | (388 | ) |  |  | 28.79 |  |  |  | (11,169 | )
Restricted Spectrum Brands stock units at January 1, 2012 |  |  | 1,957 |  |  | $ | 28.25 |  |  | $ | 55,294 |
FGL On November 2, 2011, FGL’s compensation committee (on behalf of its board of directors) approved a long-term stock based incentive plan that permits the grant of options to purchase shares of FGL common stock to key employees of FGL. On November 2, 2011, FGL’s compensation committee also approved a dividend equivalent plan that permits holders of these options the right to receive a payment in cash in an amount equal to the ordinary dividends declared and paid or debt service payments to HGI by FGL in each calendar year starting in the year in which the dividend equivalent is granted through the year immediately prior to the year in which the dividend equivalent vests with respect to a participant’s option shares. On January 6, 2012, FGL granted 205 option awards under the terms of the plan. Such date was deemed to be the effective accounting grant date, as it was determined to be the date on which a mutual understanding of the key terms and conditions of the awards to eligible employees was presumed to exist. Accordingly, no compensation expense was recorded for the quarter ended January 1, 2012. The strike price of the options of $38.14 was equal to the estimated fair value of FGL’s common stock on the date of grant based on an independent third party valuation. The total fair value of the grants on the grant date was approximately $7,820. These options vest over a period of 3 years and expire on the seventh anniversary of the grant.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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