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Sensata Technologies Holding N.V.'s SEC Filings

S-1/A
SENSATA TECHNOLOGIES HOLDING PLC filed this Form S-1/A on 03/09/2010
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Table of Contents

A summary of the status of the Company’s non-vested options as of December 31, 2009 and of the changes during the year then ended is presented below. Amounts in the table below have been calculated based on unrounded shares. Because each grant is divided equally between Tranches I, II and III, certain amounts may not add to the totals due to the effect of rounding.

 

     Stock Options     Weighted-Average Grant-Date Fair
Value Per Share
     Tranche I     Tranche II     Tranche III     Tranche I    Tranche II    Tranche III

Nonvested as of December 31, 2008

   2,713,709      4,050,479      4,050,479      $ 2.56    $ 1.71    $ 1.21

Granted during the year

   1,166,667      258,333      25,000      $ 9.20    $ 5.96    $ 0.12

Vested during the year

   (892,119   —        —        $ 2.50      —        —  

Canceled during the year

   (25,000   (25,000   (25,000   $ 2.05    $ 0.31    $ 0.12

Forfeited during the year

   (167,012   (200,430   (200,430   $ 2.69    $ 1.79    $ 1.26
                          

Nonvested as of December 31, 2009

   2,796,244      4,083,383      3,850,049      $ 5.34    $ 1.98    $ 1.21
                          

 

The fair value of stock options vested during the years ended December 31, 2009 and 2008 was $2,233 and $3,274, respectively. No stock options vested during the year ended December 31, 2007. As of December 31, 2009, there were 157,088 shares available for grant under the Stock Option Plan.

 

Tranche 1 Options

 

Tranche 1 options, with the exception of those granted during the three months ended September 30, 2009, vest over a period of 5 years (40% vesting year 2, 60% vesting year 3, 80% vesting year 4 and 100% vesting year 5) provided the participant of the option plan is continuously employed by the Company or any of its subsidiaries, and vest immediately upon a change-in-control transaction under which the investor group disposes of or sells more than 50% of the total voting power or economic interest in the Company to one or more independent third parties. Tranche 1 options granted during the three months ended September 30, 2009 vest 20% per year over five years from the date of grant provided the participant of the option plan is continuously employed by the Company or any of its subsidiaries, and vest immediately upon a change-in-control transaction under which the investor group disposes of or sells more than 50% of the total voting power or economic interest in the Company to one or more independent third parties. The Company recognizes the compensation charge for Tranche 1 awards on a straight-line basis over the requisite service period, which for options issued to date is assumed to be the same as the vesting period of 5 years. The options expire 10 years from the date of grant. Except as otherwise provided in specific option award agreements, if a participant ceases to be employed by the Company for any reason, options not yet vested expire at the termination date and options that are fully vested expire 60 days after termination of the participant’s employment for any reason other than termination for cause (in which case the options expire on the participant’s termination date) or due to death or disability (in which case the options expire on the date that is as much as six months after the participant’s termination date). In addition, the Company has a right, but not the obligation, to repurchase all or any portion of award securities issued to a participant at the then current fair value.

 

F-50