Blackberry 2003 Annual Report Download - page 41

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38
Research฀In฀Motion฀Limited฀฀|฀฀Incorporated฀Under฀the฀Laws฀of฀Ontario฀(United฀States฀dollars,฀in฀thousands฀except฀per฀share฀data฀or฀as฀otherwise฀indicated)
39
For฀the฀years฀ended฀March฀1,฀2003,฀March฀2,฀2002฀and฀February฀28,฀2001
During฀the฀year฀ended฀March฀1,฀2003,฀the฀Company฀purchased฀1,939฀common฀shares฀pursuant฀to฀its฀
Common฀Share฀Purchase฀Program฀at฀a฀cost฀of฀$24,502.฀The฀amount฀in฀excess฀of฀the฀carrying฀value฀of฀
the฀common฀shares฀of฀$2,974฀was฀charged฀to฀retained฀earnings.฀All฀common฀shares฀repurchased฀by฀
the฀Company฀pursuant฀to฀its฀Common฀Share฀Purchase฀Program฀have฀been฀cancelled.
During฀the฀year฀ended฀March฀2,฀2002,฀the฀Company฀repurchased฀370฀common฀shares฀pursuant฀to฀its฀
Common฀Share฀Purchase฀Program฀at฀a฀cost฀of฀$5,525.฀The฀amount฀in฀excess฀of฀the฀carrying฀value฀of฀
the฀common฀shares฀of฀$1,445฀was฀charged฀to฀retained฀earnings.฀All฀common฀shares฀repurchased฀by฀
the฀Company฀pursuant฀to฀its฀Common฀Share฀Purchase฀Program฀have฀been฀cancelled.
During฀the฀year฀ended฀February฀28,฀2001,฀the฀Company฀issued฀135฀common฀shares฀in฀exchange฀
for฀139฀common฀share฀purchase฀warrants฀and฀no฀cash฀consideration.฀
The฀outstanding฀common฀share฀purchase฀warrants฀have฀an฀expiry฀date฀of฀August฀17,฀2004฀and฀give฀
the฀owner฀the฀right฀to฀acquire฀75฀common฀shares฀at฀$20.83฀each.
฀b)฀Stock฀option฀plan฀–฀The฀Company฀has฀an฀incentive฀stock฀option฀plan฀for฀all฀of฀its฀directors,฀ofcers฀
and฀employees.฀The฀option฀exercise฀price฀is฀the฀fair฀market฀value฀of฀the฀Company’s฀common฀shares฀
at฀the฀date฀of฀grant.฀These฀options฀generally฀vest฀over฀a฀period฀of฀ve฀years฀after฀which฀they฀are฀
exercisable฀for฀a฀maximum฀of฀ten฀years฀after฀the฀grant฀date.฀The฀Company’s฀shareholders฀approved฀
the฀reconstitution฀of฀the฀stock฀option฀plan฀at฀the฀Annual฀General฀Meeting฀on฀August฀12,฀2002.฀The฀
reconstitution฀increased฀the฀number฀of฀common฀shares฀available฀for฀the฀grant฀of฀options฀by฀2,756.฀
As฀at฀March฀1,฀2003,฀there฀were฀10,101฀options฀outstanding฀with฀exercise฀prices฀ranging฀from฀$2.43฀
to฀$119.80.฀Options฀issued฀and฀outstanding฀for฀4,070฀shares฀are฀vested฀as฀at฀March฀1,฀2003.฀There฀are฀
4,115฀shares฀available฀for฀future฀grants฀under฀the฀plan.฀
A฀summary฀of฀option฀activity฀since฀February฀29,฀2000฀is฀shown฀below:
฀ Options฀Outstanding฀
฀ ฀ ฀ ฀ ฀ ฀ ฀ Weighted
฀ ฀ ฀ ฀ ฀ Number฀ ฀ Average
฀ ฀ ฀ ฀ ฀ (in฀000’s)฀ Exercise฀Price
Balance฀as฀at฀February฀29,฀2000฀ ฀฀ ฀ ฀ 7,243฀฀ ฀$฀ 7.19฀
Granted฀during฀the฀year฀ ฀฀ ฀ ฀ 1,767฀฀ ฀$฀ 52.16฀
Exercised฀during฀the฀year฀ ฀฀ ฀ ฀ (1,018)฀ ฀$฀ 6.29฀
Forfeited฀during฀the฀year฀ ฀฀ ฀ ฀ (72)฀ ฀$฀ 38.03฀
Balance฀as฀at฀February฀28,฀2001฀ ฀฀ ฀ ฀ 7,920฀฀ ฀$฀ 17.04฀
Granted฀during฀the฀year฀ ฀฀ ฀ ฀ 2,978฀฀ ฀$฀ 21.83฀
Exercised฀during฀the฀year฀ ฀฀ ฀ ฀ (515)฀ ฀$฀ 3.71฀
Forfeited฀during฀the฀year฀ ฀฀ ฀ ฀ (297)฀ ฀$฀ 27.92฀
Balance฀as฀at฀March฀2,฀2002฀ ฀฀ ฀ ฀ 10,086฀฀ ฀$฀ 18.81฀
Granted฀during฀the฀year฀ ฀฀ ฀ ฀ 956฀฀ ฀$฀ 16.41฀
Exercised฀during฀the฀year฀ ฀฀ ฀ ฀ (320)฀ ฀$฀ 3.88฀
Forfeited฀during฀the฀year฀ ฀฀ ฀ ฀ (621)฀ ฀$฀ 31.35฀
Balance฀as฀at฀March฀1,฀2003฀ ฀฀ ฀ ฀ 10,101฀฀ ฀$฀ 18.29฀
฀