James Hardie Industries plc Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Options Available for Grant and Outstanding Options Activity

The following table summarises the Company’s shares available for grant as options, restricted stock units or other equity instruments under the LTIP and 2001 Equity Incentive Plan at 31 March 2014, 2013 and 2012:


	Shares Available for Grant
Balance at 31 March 2012		25,695,988

Granted		(1,415,605	)
Forfeitures available for re-grant		223,400

Balance at 31 March 2013		24,503,783


Granted		(1,266,656	)

Balance at 31 March 2014		23,237,127

Stock Options

There were no stock options granted during the years ended 31 March 2014 and 2013. The following table summarises the Company’s stock options activity during the noted period:


	Outstanding Options
	Number		Weighted Average Exercise Price (A$)
Balance at 31 March 2012		9,085,140		7.59

Exercised		(3,622,106)		7.01
Forfeited		(306,898)		8.56

Balance at 31 March 2013		5,156,136		7.94

Exercised		(4,056,860)		7.89

Balance at 31 March 2014		1,099,276		8.11

Outstanding and Exercisable Options under 2001 Equity Incentive Plan and Long-Term Incentive Plan

The following table summarises outstanding and exercisable options under both the 2001 Equity Incentive Plan and the LTIP as of 31 March 2014:


	Options Outstanding								Options Exercisable
Exercise Price (A$)	Number		Weighted Average Remaining Life (in Years)		Weighted Average Exercise Price (A$)		Aggregate Intrinsic Value (A$)		Number		Weighted Average Exercise Price (A$)		Aggregate Intrinsic Value (A$)
5.99		47,500		0.7		5.99	$	396,150		47,500		5.99	$	396,150
6.38		200,896		3.7		6.38		1,597,123		200,896		6.38		1,597,123
8.40		337,880		2.6		8.40		2,003,628		337,880		8.40		2,003,628
8.40		101,000		2.6		8.40		598,930		101,000		8.40		598,930
8.90		394,900		1.7		8.90		2,144,307		394,900		8.90		2,144,307
8.90		17,100		1.7		8.90		92,853		17,100		8.90		92,853

Total		1,099,276					$	6,832,991		1,099,276			$	6,832,991

Restricted Stock Activity

The following table summarises the Company’s restricted stock activity during the noted period:


	Shares			Weighted Average Fair Value at Grant Date (A$)
Non-vested at 31 March 2012		3,677,511			5.59


Granted		1,415,605			7.74
Vested		(846,415	)		7.21
Forfeited		(242,333	)		5.81


Non-vested at 31 March 2013		4,004,368			5.99


Granted		1,266,656			9.11
Vested		(1,227,372	)		5.42
Forfeited		(159,734	)		6.38


Non-vested at 31 March 2014		3,883,918			7.17

Assumptions Used for Restricted Stock Grants

The following table includes the assumptions used for restricted stock grants (market condition) valued during the year ended 31 March 2014 and 2013, respectively:


	FY14		FY13
Date of grant		16 Sep 2013		14 Sep 2012
Dividend yield (per annum)		3.0%		1.5%
Expected volatility		43.3%		52.2%
Risk free interest rate		1.4%		0.7%
Expected life in years		3.0		3.0
JHX stock price at grant date (A$)		10.17		8.95
Number of restricted stock units		489,888		432,654

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References + Details