TESORO CORP /NEW/ | 2013 | FY | 3


A summary of our SAR activity for the year ended December 31, 2013, is set forth below (shares in thousands):
 
Number of SARs
 
Weighted Average
Exercise Price
 
Weighted Average
Remaining
Contractual Term
Outstanding at January 1, 2013
3,835

 
$27.64
 
2.3 years
Exercised
(1,615
)
 
$31.82
 
 
Forfeited
(24
)
 
$30.18
 
 
Outstanding at December 31, 2013
2,196

 
$24.53
 
1.5 years
Vested or expected to vest at December 31, 2013
2,196

 
$24.53
 
1.5 years
Exercisable at December 31, 2013
2,196

 
$24.53
 
1.5 years

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