the weighted average grant date fair value of options granted during 2012 , 2011 , and 2010 was $ 13 , $ 19 and $ 20 per share , respectively .
the total intrinsic value of options exercised during the years ended december 31 , 2012 , 2011 and 2010 , was $ 19.0 million , $ 4.2 million and $ 15.6 million , respectively .
in 2012 , the company granted 931340 shares of restricted class a common stock and 4048 shares of restricted stock units .
restricted common stock and restricted stock units generally have a vesting period of 2 to 4 years .
the fair value related to these grants was $ 54.5 million , which is recognized as compensation expense on an accelerated basis over the vesting period .
beginning with restricted stock grants in september 2010 , dividends are accrued on restricted class a common stock and restricted stock units and are paid once the restricted stock vests .
in 2012 , the company also granted 138410 performance shares .
the fair value related to these grants was $ 7.7 million , which is recognized as compensation expense on an accelerated and straight-lined basis over the vesting period .
the vesting of these shares is contingent on meeting stated performance or market conditions .
the following table summarizes restricted stock , restricted stock units , and performance shares activity for 2012 : number of shares weighted average grant date fair value outstanding at december 31 , 2011 .
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1432610 $ 57 .

number of shares
weightedaveragegrant datefair value
outstanding at december 31 2011
1432610
$ 57
granted
1073798
54
vested
-366388 ( 366388 )
55
cancelled
-226493 ( 226493 )
63
outstanding at december 31 2012
1913527
54

outstanding at december 31 , 2012 .
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1913527 54 the total fair value of restricted stock , restricted stock units , and performance shares that vested during the years ended december 31 , 2012 , 2011 and 2010 , was $ 20.9 million , $ 11.6 million and $ 10.3 million , respectively .
eligible employees may acquire shares of class a common stock using after-tax payroll deductions made during consecutive offering periods of approximately six months in duration .
shares are purchased at the end of each offering period at a price of 90% ( 90 % ) of the closing price of the class a common stock as reported on the nasdaq global select market .
compensation expense is recognized on the dates of purchase for the discount from the closing price .
in 2012 , 2011 and 2010 , a total of 27768 , 32085 and 21855 shares , respectively , of class a common stock were issued to participating employees .
these shares are subject to a six-month holding period .
annual expense of $ 0.1 million , $ 0.2 million and $ 0.1 million for the purchase discount was recognized in 2012 , 2011 and 2010 , respectively .
non-executive directors receive an annual award of class a common stock with a value equal to $ 75000 .
non-executive directors may also elect to receive some or all of the cash portion of their annual stipend , up to $ 25000 , in shares of stock based on the closing price at the date of distribution .
as a result , 40260 , 40585 and 37350 shares of class a common stock were issued to non-executive directors during 2012 , 2011 and 2010 , respectively .
these shares are not subject to any vesting restrictions .
expense of $ 2.2 million , $ 2.1 million and $ 2.4 million related to these stock-based payments was recognized for the years ended december 31 , 2012 , 2011 and 2010 , respectively .
19 .
fair value measurements in general , the company uses quoted prices in active markets for identical assets to determine the fair value of marketable securities and equity investments .
level 1 assets generally include u.s .
treasury securities , equity securities listed in active markets , and investments in publicly traded mutual funds with quoted market prices .
if quoted prices are not available to determine fair value , the company uses other inputs that are directly observable .
assets included in level 2 generally consist of asset- backed securities , municipal bonds , u.s .
government agency securities and interest rate swap contracts .
asset-backed securities , municipal bonds and u.s .
government agency securities were measured at fair value based on matrix pricing using prices of similar securities with similar inputs such as maturity dates , interest rates and credit ratings .
the company determined the fair value of its interest rate swap contracts using standard valuation models with market-based observable inputs including forward and spot exchange rates and interest rate curves. .

Question: what is the percentage change in the total value of outstanding balance from 2011 to 2012?
Answer: 26.5%

Question: what is the total value of cancelled shares , ( in millions ) ?
Answer: 14.3