VERIZON COMMUNICATIONS INC | 2013 | FY | 3


The following table summarizes the Value Appreciation Rights activity:

 

(shares in thousands)    VARs     Weighted-
Average
Grant-Date
Fair Value
 

Outstanding rights, January 1, 2011

     11,569     $ 13.11  

Exercised

     (3,303     14.87  

Cancelled/Forfeited

     (52     14.74  
  

 

 

   

Outstanding rights, December 31, 2011

     8,214       12.39  

Exercised

     (3,427     10.30  

Cancelled/Forfeited

     (21     11.10  
  

 

 

   

Outstanding rights, December 31, 2012

     4,766       13.89  

Exercised

     (1,916     13.89  

Cancelled/Forfeited

     (3     13.89  
  

 

 

   

Outstanding rights, December 31, 2013

     2,847       13.89  
  

 

 

   

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