Airtran 2005 Annual Report Download - page 42

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A summary of stock option activity under the aforementioned plans is as follows:
Weighted-
Average
Options Price
Balance at January 1, 2003 9,784,989 $ 5.73
Granted 848,808 5.84
Exercised (2,082,000) 3.25
Canceled (56,023) 13.86
Balance at December 31, 2003 8,495,774 $ 6.20
Granted 514,405 12.40
Exercised (2,147,149) 12.66
Canceled (40,773) 4.26
Balance at December 31, 2004 6,822,257 $ 7.20
Granted ——
Exercised (1,773,550) $ 5.56
Canceled (191,843) $ 8.81
Balance at December 31, 2005 4,856,864 $ 7.77
Exercisable at December 31, 2005 4,604,928 $ 7.89
The following table summarizes information concerning outstanding and exercisable options at December 31, 2005:
Options Outstanding Options Exercisable
Weighted-Average
Remaining Weighted- Weighted-
Range of Number Contractual Average Number Average
Exercise Prices Outstanding Life (Years) Exercise Price Exercisable Exercise Price
$ 2.78– 4.00 1,329,867 4.1 $ 3.29 1,329,867 $ 3.29
4.13– 5.97 1,095,968 5.9 4.95 929,298 4.96
6.08– 9.12 1,377,522 5.8 8.07 1,292,434 8.16
10.00–13.03 449,307 8.1 12.06 449,129 12.06
13.80–21.38 604,200 0.1 18.82 604,200 18.82
$ 2.78–21.38 4,856,864 4.9 $ 7.77 4,604,928 $ 7.89
We had 5,373,793 and 6,366,369 options exercisable at December 31, 2004 and 2003, respectively. We exercised 1.8 million, 2.1 million and 2.1 million options during 2005, 2004 and 2003, respectively. The tax
benefit related to those options of $1.6 million, $5.9 million and $8.4 million, respectively, is recorded in additional paid in capital on the Consolidated Statement of Stockholders’ Equity.
The weighted-average fair value of options granted during 2004 and 2003, with option prices equal to the market price on the date of grant, was $7.24 and $3.14, respectively.
There were no options granted during 2004 and 2003 with option prices greater than the market price of the stock on the date of grant.
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