continues EA's program of providing equity incentives to eligible employees, officers and directors. We offer these incentives in order to assist in recruiting, retaining and motivating qualified employees, officers and directors. Since the Equity Plan's adoption, 120,865,000 shares of common stock have been reserved for issuance. For more information regarding the Equity Plan, please read the summary of its material terms, as proposed to be amended, included as Appendix A of this Proxy Statement, and full text of the Equity Plan, as proposed to be amended, filed with the SEC on or about June 14, 2013. advanced through the issuance of equity incentives as a portion of their total compensation. In this way, we reinforce the link between our stockholders and our employees', officers' and directors' focus on personal responsibility, creativity and stockholder returns. Equity incentives such as stock options and RSUs also play an important role in our recruitment and retention strategies, as the competition for creative and technical talent and leadership in our industry is intense. issuances and strive to keep the dilutive impact of the equity incentives we offer within a reasonable range. The proposal to increase the number of shares authorized by 18,000,000 was determined based on the results of an internal calculation of the cost of the Equity Plan based on a shareholder value transfer model used by some advisors; the current request of 18,000,000 shares, together with the total value of stock option and RSU awards outstanding, and shares available to grant under the Equity Plan as of May 20, 2013, represents less than 12% of our market capitalization. performance-based RSUs with target vesting of 970,000 shares (of which a maximum of 200% of target or 1,940,000 shares could be earned if the highest level of performance is attained). Together, these grants of stock options, RSUs and performance-based RSUs (assuming target vesting) represented approximately 3.4% of our fiscal 2013 weighted average common shares outstanding; further, taking into consideration options, RSUs and performance-based RSUs that were cancelled, forfeited or expired during fiscal 2013, these grants represents approximately 1.7% of our fiscal 2013 weighted average common shares outstanding. average exercise price of $35.1966 and a weighted average remaining contractual life of 4.32 years. Also, as of that same date, there were 14,190,022 granted but unvested shares of restricted stock and RSUs, including all time-based RSUs, performance-based RSUs (including 1,173,339 performance-based RSUs that were granted at the maximum 200% of the number of shares targeted to vest), but excluding 114,000 RSUs awarded to directors that have vested but have been deferred and remain unreleased. As a result, as of May 20, 2013, the number of shares remaining available for future grant under all plans was 12,586,905 shares available for issuance as stock options or 8,802,031 shares available for issuance as restricted stock and RSUs. Going forward, we intend to continue to responsibly manage issuance of equity incentive awards under the Equity Plan. our annual reviews and merit increases and we believe that an additional 18,000,000 shares is sufficient to support our equity incentive programs for approximately two years based on historical granting practices. However, our practice has been to propose an annual increase to the number of shares authorized under the Equity Plan based on the allowable industry limits under the shareholder value transfer model and it is expected that we will continue to follow this practice and request additional shares at the 2014 Annual Meeting. Plan does not allow any options to be granted at less than 100 percent of fair market value, and the exercise |