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SEC Filings

10-K
CINEMARK HOLDINGS, INC. filed this Form 10-K on 02/27/2015
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Table of Contents

CINEMARK HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

In thousands, except share and per share data

 

Below is a summary of the Company’s treasury stock activity for the years ended December 31, 2012, 2013 and 2014:

 

     Number of         
     Treasury
Shares
     Cost  

Balance at January 1, 2012

     3,391,592       $ 45,219   

Restricted stock forfeitures (1)

     14,423         —     

Restricted stock withholdings (2)

     147,070         3,263   
  

 

 

    

 

 

 

Balance at December 31, 2012

     3,553,085       $ 48,482   

Restricted stock forfeitures (1)

     22,653         —     

Restricted stock withholdings (2)

     119,197         3,464   
  

 

 

    

 

 

 

Balance at December 31, 2013

     3,694,935       $ 51,946   

Restricted stock forfeitures (1)

     25,947         —     

Restricted stock withholdings (2)

     336,253         9,861   
  

 

 

    

 

 

 

Balance at December 31, 2014

     4,057,135       $ 61,807   
  

 

 

    

 

 

 

 

(1) 

The Company repurchased forfeited and canceled restricted shares at a cost of $0.001 per share in accordance with the Company’s Amended and Restated 2006 Long Term Incentive Plan.

(2) 

The Company withheld restricted shares as a result of the election by certain employees to satisfy their tax liabilities upon vesting in restricted stock. The Company determined the number of shares to be withheld based upon market values that ranged from $22.40 to $30.83 per share.

As of December 31, 2014, the Company had no plans to retire any shares of treasury stock.

Stock Options —   Below is a summary of stock option activity and related information for the years ended December 31, 2012, 2013 and 2014:

 

     Year Ended
December 31, 2012
     Year Ended
December 31, 2013
     Year Ended
December 31, 2014
 
     Number
of
Options
    Weighted
Average
Exercise

Price
     Number
of
Options
    Weighted
Average
Exercise

Price
     Number
of
Options
    Weighted
Average
Exercise

Price
 

Outstanding at January 1

     82,166      $ 7.63         22,022      $ 7.63         14,584      $ 7.63   

Exercised

     (60,144   $ 7.63         (7,438   $ 7.63         (14,584   $ 7.63   
  

 

 

      

 

 

      

 

 

   

Outstanding at December 31

     22,022      $ 7.63         14,584      $ 7.63         —       
  

 

 

      

 

 

      

 

 

   

Vested options at December 31

     22,022      $ 7.63         14,584      $ 7.63         —       
  

 

 

      

 

 

      

 

 

   

All outstanding stock options were fully vested as of April 2, 2009. There were no options granted or forfeited during any of the periods presented. The total intrinsic value of options exercised during the years ended December 31, 2012, 2013 and 2014, was $1,070, $168 and $296, respectively. The Company recognized tax benefits of approximately $449, $71 and $124 related to the options exercised during the year ended December 31, 2012, 2013 and 2014, respectively.

 

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