Air Canada 2008 Annual Report Download - page 123

Download and view the complete annual report

Please find page 123 of the 2008 Air Canada annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

Consolidated Financial Statements and Notes
123
ACEStockOptionPlan
Certain of the Corporation’s employees participated in the ACE stock option plan.
In compliance with the terms of the ACE stock option plan, in November 2007, the Board of ACE resolved to immediately
vest all remaining unvested ACE stock options. This resulted in the immediate expense recognition of $6 for all deferred
stock based compensation on outstanding ACE options granted to Air Canada employees. An additional $3 in compensation
expense was recorded during 2007 for a total compensation expense of $9. As a result of this immediate vesting of all ACE
options granted to Air Canada employees, no further stock based compensation expense has been recorded related to the
ACE stock option plan during 2008.
The following tables outline the details of the outstanding ACE stock options held by Air Canada employees:
Range of
Exercise Prices
Expiry
Dates
2008OutstandingandExercisableOptions
NumberofOptions
Outstanding
Weighted Average
Remaining Life (Years)
Weighted Average
ExercisePrice/Share
$ 11.05 2011 38,319 3 $ 11.05
$ 19.23 2013 22,911 5 19.23
61,230 $ 14.11
Range of
Exercise Prices
Expiry
Dates
2007OutstandingandExercisableOptions
NumberofOptions
Outstanding
Weighted Average
Remaining Life (Years)
Weighted Average
ExercisePrice/Share
$ 11.05 2011 129,077 4 $ 11.05
$ 19.10 - $ 20.04 2013 194,677 6 19.12
323,754 $ 15.90