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Trina Solar Ltd – ‘20-F’ for 12/31/10 – ‘XML.R20’

On: Monday, 4/18/11, at 5:24pm ET · For: 12/31/10 · Accession #: 950123-11-36540 · File #: 1-33195

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/18/11  Trina Solar Ltd                   20-F       12/31/10   44:4.3M                                   Donnelley … Solutions/FA

Annual Report by a Foreign Non-Canadian Issuer — Form 20-F — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 20-F        Annual Report by a Foreign Non-Canadian Issuer      HTML   1.19M 
 2: EX-8.1      Opinion of Counsel re: Tax Matters                  HTML     16K 
 5: EX-13.1     Annual or Quarterly Report to Security Holders      HTML     14K 
 6: EX-13.2     Annual or Quarterly Report to Security Holders      HTML     14K 
 3: EX-12.1     Statement re: Computation of Ratios                 HTML     18K 
 4: EX-12.2     Statement re: Computation of Ratios                 HTML     18K 
 7: EX-15.1     Letter re: Unaudited Interim Financial Information  HTML     13K 
33: XML         IDEA XML File -- Definitions and References          XML     97K 
40: XML         IDEA XML File -- Filing Summary                      XML     71K 
37: XML.R1      Document and Entity Information                      XML    122K 
38: XML.R2      Consolidated Balance Sheets                          XML    488K 
21: XML.R3      Consolidated Balance Sheets (Parenthetical)          XML    131K 
26: XML.R4      Consolidated Statements of Operations                XML    307K 
31: XML.R5      Consolidated Statements of Shareholders' Equity      XML    784K 
                and Comprehensive Income                                         
30: XML.R6      Consolidated Statements of Cash flows                XML    677K 
43: XML.R7      Consolidated Statements of Cash flows                XML     37K 
                (Parenthetical)                                                  
17: XML.R8      Organization and Principal Activities                XML     42K 
29: XML.R9      Summary of Principal Accounting Policies             XML    133K 
16: XML.R10     Allowance for Doubtful Receivables                   XML     56K 
15: XML.R11     Inventories                                          XML     44K 
20: XML.R12     Property, Plant and Equipment, Net                   XML     50K 
35: XML.R13     Prepaid Land Use Right                               XML     39K 
22: XML.R14     Derivative Financial Instruments                     XML     60K 
23: XML.R15     Fair Value Measurement                               XML     89K 
28: XML.R16     Investment in Securities                             XML     42K 
44: XML.R17     Bank Borrowings                                      XML     60K 
19: XML.R18     Convertible Senior Notes                             XML     45K 
14: XML.R19     Accrued Warranty Costs                               XML     43K 
25: XML.R20     Share-Based Compensation                             XML     65K 
34: XML.R21     Tax Expense                                          XML     91K 
18: XML.R22     Distribution of Profit                               XML     40K 
32: XML.R23     Related Party Transactions and Balances              XML     42K 
24: XML.R24     Commitments and Contingencies                        XML     45K 
42: XML.R25     Segment Information                                  XML     49K 
36: XML.R26     Major Customers and Suppliers                        XML     49K 
27: XML.R27     Change in Method of Share Lending Facilities         XML     65K 
                Agreement                                                        
41: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    496K 
 8: EX-101.INS  XBRL Instance -- tsl-20101231                        XML    643K 
10: EX-101.CAL  XBRL Calculations -- tsl-20101231_cal                XML    134K 
13: EX-101.DEF  XBRL Definitions -- tsl-20101231_def                 XML     42K 
11: EX-101.LAB  XBRL Labels -- tsl-20101231_lab                      XML    450K 
12: EX-101.PRE  XBRL Presentations -- tsl-20101231_pre               XML    272K 
 9: EX-101.SCH  XBRL Schema -- tsl-20101231                          XSD     71K 
39: ZIP         XBRL Zipped Folder -- 0000950123-11-036540-xbrl      Zip     76K

‘XML.R20’ — Share-Based Compensation

This Financial Report is an XBRL XML File.

<?xml version="1.0" encoding="windows-1252"?>

<hasSegments> false </hasSegments>

<hasScenarios> false </hasScenarios>

<ReportLongName> 06013 - Disclosure - Share-Based Compensation </ReportLongName>

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<hasSegments> false </hasSegments>

<hasScenarios> false </hasScenarios>

<MCU>

<KeyName> 1/1/2010 - 12/31/2010 USD ($) USD ($) / shares </KeyName>

<ContextID> TwelveMonthsEnded_31Dec2010 </ContextID>

<PeriodType> duration </PeriodType>

</contextRef>

<UPS>

<UnitType> Standard </UnitType>

</StandardMeasure>

</UnitProperty>

<UnitID> Shares </UnitID>

<UnitType> Standard </UnitType>

<MeasureSchema> http://www.xbrl.org/2003/instance </MeasureSchema>

<MeasureValue> shares </MeasureValue>

<MeasureNamespace> xbrli </MeasureNamespace>

</StandardMeasure>

</UnitProperty>

<UnitID> USDEPS </UnitID>

<UnitType> Divide </UnitType>

</NumeratorMeasure>

<MeasureSchema> http://www.xbrl.org/2003/instance </MeasureSchema>

<MeasureValue> shares </MeasureValue>

<MeasureNamespace> xbrli </MeasureNamespace>

</DenominatorMeasure>

</UnitProperty>

</UPS>

</MCU>

</Labels>

</Column>

</Columns>

<Rows>

<Row>

<ElementName> us-gaap_ShareBasedCompensationAbstract </ElementName>

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<ShortDefinition> No definition available. </ShortDefinition>

<IsReportTitle> false </IsReportTitle>

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<IsCalendarTitle> false </IsCalendarTitle>

<IsTuple> false </IsTuple>

<IsEquityPrevioslyReportedAsRow> false </IsEquityPrevioslyReportedAsRow>

<IsEquityAdjustmentRow> false </IsEquityAdjustmentRow>

<IsBeginningBalance> false </IsBeginningBalance>

<IsEndingBalance> false </IsEndingBalance>

<IsReverseSign> false </IsReverseSign>

<Cells>

<Cell>

<IsNumeric> false </IsNumeric>

<IsRatio> false </IsRatio>

<DisplayZeroAsNone> false </DisplayZeroAsNone>

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<ShowCurrencySymbol> false </ShowCurrencySymbol>

<DisplayDateInUSFormat> false </DisplayDateInUSFormat>

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</Cell>

</Cells>

<Unit> Other </Unit>

<ElementDataType> xbrli:stringItemType </ElementDataType>

<SimpleDataType> string </SimpleDataType>

<ElementDefenition> No definition available. </ElementDefenition>

<IsTotalLabel> false </IsTotalLabel>

<IsEPS> false </IsEPS>

<Label> Share-Based Compensation [Abstract] </Label>

</Row>

<Row>

<IsAbstractGroupTitle> false </IsAbstractGroupTitle>

<ElementName> us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock </ElementName>

<PeriodType> duration </PeriodType>

<ShortDefinition> No definition available. </ShortDefinition>

<IsReportTitle> false </IsReportTitle>

<IsSegmentTitle> false </IsSegmentTitle>

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<IsEquityAdjustmentRow> false </IsEquityAdjustmentRow>

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<Cells>

<Cell>

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<DisplayZeroAsNone> false </DisplayZeroAsNone>

<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div style="margin-top: 10pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="3%" nowrap="nowrap" align="left">13.</td> <td width="1%"> </td> <td>SHARE-BASED COMPENSATION</td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The Company measures share-based compensation cost on the grant date at the fair value of the award and recognizes this cost as an expense over the grant recipients’ requisite service periods. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The following table presents the Company’s share-based compensation expense by type of award: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="58%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 10pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2008</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2009</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td> <td> </td> </tr> <tr style="font-size: 10pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">$</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">$</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">$</td> <td> </td> </tr>   <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Share options </div></td> <td> </td> <td> </td> <td align="right">483,546</td> <td> </td> <td> </td> <td> </td> <td align="right">1,041,868</td> <td> </td> <td> </td> <td> </td> <td align="right">1,882,511</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Restricted shares </div></td> <td> </td> <td> </td> <td align="right">3,541,234</td> <td> </td> <td> </td> <td> </td> <td align="right">3,236,634</td> <td> </td> <td> </td> <td> </td> <td align="right">4,072,536</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px"> </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Total share-based compensation expense </div></td> <td> </td> <td> </td> <td align="right">4,024,780</td> <td> </td> <td> </td> <td> </td> <td align="right">4,278,502</td> <td> </td> <td> </td> <td> </td> <td align="right">5,955,047</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px"> </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><u>Restricted shares</u> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">In July 2006, the Company adopted the Share Incentive Plan (the “Share Incentive Plan”) upon which the Compensation Committee (the “Committee”) of the Board of Directors can authorize to make awards of Restricted Shares to any participant selected by the Committee in such amounts under terms and conditions as determined by the Committee. Restricted Shares shall be subject to restrictions on transferability and other restrictions as the Committee may impose (including, without limitation, limitations on the right to vote Restricted Shares or the right to receive dividends on the Restricted Share). These restrictions may lapse separately or in combination at such times, pursuant to such circumstances, in such installments, or otherwise, as the Committee determines at the time of the grant of the Award or thereafter. </div> <p align="center" style="font-size: 10pt">   </p> </div>  <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="center" style="font-size: 10pt; margin-top: 0pt"> </div> <div style="margin-top: 0pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="3%" nowrap="nowrap" align="left"></td> <td width="1%"></td> <td></td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The following is a summary of activities under the Plan: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="72%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 10pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Number of shares</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Weighted average grant date fair value</td> <td> </td> </tr>   <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Non-vested at January 1, 2010 </div></td> <td> </td> <td> </td> <td align="right">41,139,713</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">0.28</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Granted </div></td> <td> </td> <td> </td> <td align="right">27,528,391</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">0.41</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Vested </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(12,028,839</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">0.25</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Repurchased </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(9,057,633</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">0.36</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px"> </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Nonvested at December 31, 2010 </div></td> <td> </td> <td> </td> <td align="right">47,581,632</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">0.35</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px"> </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The fair value of the restricted shares was based on the market price on the date of grant. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">As of December 31, 2010 there was $13,474,510 of total unrecognized compensation cost related to nonvested share-based compensation arrangements, which is expected to be recognized over a weighted-average period of 3.50 years. The total fair value of shares vested during the years ended December 31, 2008, 2009, and 2010 was $5,723,692, $8,960,326 and $13,032,862, respectively. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">In June and July 2008, the Company accelerated the vesting of 1,365,397 restricted shares upon the resignation of two senior executives. The modification gave rise to incremental compensation cost of $417,791 which was recognized as compensation expense in 2008. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><u>Share Options</u> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">In May 2008, the Company revised the Share Incentive Plan and introduced stock options as a compensation instrument to its employees. Under the terms of the revised Share Incentive Plan, share options are granted to employees at exercise prices equal to the Company’s share price on the grant date. The Company’s stock options expire five years from their grant date and generally vest one third per annum on the anniversary of the grant date. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">During 2008, 2009 and 2010, the Company granted 14,512,157, 15,419,650 and 21,630,267 share options, respectively, to its board of directors and employees. Those share options will vest one third per annum on the anniversary of the grant date. </div> <p align="center" style="font-size: 10pt">   </p> </div>  <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="center" style="font-size: 10pt; margin-top: 0pt"> </div> <div align="left" style="font-size: 10pt; margin-top: 0pt"> </div> <div align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 4%"> <u> </u> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">A summary of the option activity is as follows: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="44%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 10pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Weighted</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Weighted Average</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td> </tr> <tr style="font-size: 10pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Number</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Average</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Remaining</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Aggregate</b></td> <td> </td> </tr> <tr style="font-size: 10pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>of Options</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Exercise Price</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Contractual Term</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Intrinsic Value</b></td> <td> </td> </tr>   <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Options outstanding at January 1, 2010 </div></td> <td> </td> <td> </td> <td align="right">24,337,277</td> <td> </td> <td> </td> <td> </td> <td align="right">0.22</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Granted </div></td> <td> </td> <td> </td> <td align="right">21,630,267</td> <td> </td> <td> </td> <td> </td> <td align="right">0.46</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Exercised </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(4,503,300</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">0.24</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Cancelled or Forfeited </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(6,192,521</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">0.33</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Options outstanding at December 31, 2010 </div></td> <td> </td> <td> </td> <td align="right">35,271,723</td> <td> </td> <td> </td> <td> </td> <td align="right">0.35</td> <td> </td> <td> </td> <td> </td> <td align="right">6.70</td> <td> </td> <td> </td> <td> </td> <td align="right">4,290,081</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Options vested or expected to vest at December 31, 2010 </div></td> <td> </td> <td> </td> <td align="right">29,452,248</td> <td> </td> <td> </td> <td> </td> <td align="right">0.35</td> <td> </td> <td> </td> <td> </td> <td align="right">6.75</td> <td> </td> <td> </td> <td> </td> <td align="right">3,347,285</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Options exercisable at December 31, 2010 </div></td> <td> </td> <td> </td> <td align="right">4,776,616</td> <td> </td> <td> </td> <td> </td> <td align="right">0.26</td> <td> </td> <td> </td> <td> </td> <td align="right">5.71</td> <td> </td> <td> </td> <td> </td> <td align="right">985,768</td> <td> </td> </tr>  </table> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">Total intrinsic value of options exercised for the years ended December 31, 2008, 2009 and 2010 were $nil, $409,039 and $1,020,370, respectively. The weighted-average grant date fair value of options granted during the years ended December 31, 2008, 2009 and 2010 was $0.21, $0.11 and $0.17, respectively, computed using the Black-Scholes-Merton closed-form option valuation model using the following weighted average assumptions: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="58%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 10pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2008</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2009</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Risk free rate of return </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">2.03</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">1.30</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">1.26</td> <td nowrap="nowrap">%</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Expected life </div></td> <td> </td> <td> </td> <td align="right">3.50</td> <td> </td> <td> </td> <td> </td> <td align="right">3.50</td> <td> </td> <td> </td> <td> </td> <td align="right">3.50</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Volatility ratio </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">70.7</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">88.9</td> <td nowrap="nowrap">%</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">81.80</td> <td nowrap="nowrap">%</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Dividend yield </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr>  </table> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The Company estimated the expected life, which represents its best estimate of the period of time from the grant date that it expects the stock options to remain outstanding, using the simplified method. Under this method, the Company estimates the expected life of its stock options as the mid-point between their time to vest and their contractual term. The Company applied the simplified method because it does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected life due to the limited period of time that has elapsed since its first option grant. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The Company estimated the expected volatility upon historical volatility of its own stock price. The Company used U.S. Treasury rates in effect at the time of the grants for the risk-free rates. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">As of December 31, 2010, the Company had $3,324,289 of unrecognized share-based compensation cost related to unvested share options, which it expects to recognize over a weighted-average period of 2.07 years. </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="center" style="font-size: 10pt; margin-top: 0pt"> </div> </div>

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Filing Submission 0000950123-11-036540 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Trina Solar Ltd – ‘20-F’ for 12/31/10 – ‘XML.R20’

On: Monday, 4/18/11, at 5:24pm ET · For: 12/31/10 · Accession #: 950123-11-36540 · File #: 1-33195

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Annual Report by a Foreign Non-Canadian Issuer — Form 20-F — Sect. 13 / 15(d) – SEA’34Filing Table of Contents

‘XML.R20’ — Share-Based Compensation

This Financial Report is an XBRL XML File.

Annual Report by a Foreign Non-Canadian Issuer — Form 20-F — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents