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40
Research฀In฀Motion฀Limited฀฀|฀฀Incorporated฀Under฀the฀Laws฀of฀Ontario฀(United฀States฀dollars,฀in฀thousands฀except฀per฀share฀data฀or฀as฀otherwise฀indicated)
41
For฀the฀years฀ended฀March฀1,฀2003,฀March฀2,฀2002฀and฀February฀28,฀2001
The฀weighted฀average฀characteristics฀of฀options฀outstanding฀as฀at฀March฀1,฀2003฀are฀as฀follows:฀
฀ Options฀Outstanding฀(000’s)฀ Options฀Exercisable฀(000’s)
฀ ฀ Weighted฀average฀฀ ฀ ฀฀
฀ Number฀Outstanding฀ remaining฀฀ Weighted฀average฀฀ Number฀Outstanding฀ Weighted฀average฀
Range฀of฀exercise฀prices฀ ฀at฀March฀1,฀2003฀ life฀in฀years฀ exercise฀price฀ at฀March฀1,฀2003฀ exercise฀price
$2.43฀–฀$3.62฀ ฀ 2,058฀ ฀3.7฀฀ ฀$฀ 2.69฀฀ 1,847฀ ฀$฀ 2.61฀
$3.88฀–฀$5.66฀ ฀ 1,544฀ ฀2.6฀฀ ฀฀ 4.14฀฀ 415฀ ฀฀ 4.31฀
$5.93฀–฀$8.78฀ ฀ 699฀ ฀3.0฀฀ ฀฀ 7.69฀฀ 233฀ ฀฀ 7.68฀
$8.97฀–฀$13.12฀ ฀ 464฀ ฀4.7฀฀ ฀฀ 10.26฀฀ 127฀ ฀฀ 9.87฀
$13.55฀–฀$20.29฀ ฀ 1,802฀ ฀5.6฀฀ ฀฀ 16.41฀฀ 351฀ ฀฀ 16.84฀
$20.39฀–฀$30.51฀ ฀ 1,737฀ ฀5.3฀฀ ฀฀ 23.51฀฀ 392฀ ฀฀ 24.60฀
$30.68฀–฀$45.51฀ ฀ 683฀ ฀4.6฀฀ ฀฀ 36.87฀฀ 237฀ ฀฀ 37.52฀
$46.55฀–฀$68.48฀ ฀ 839฀ ฀4.6฀฀ ฀฀ 51.65฀฀ 338฀ ฀฀ 51.31฀
$70.44฀and฀over฀ ฀ 275฀ ฀4.6฀฀ ฀฀ 86.58฀฀ 130฀ ฀฀ 86.47฀
Total฀ ฀฀ 10,101฀฀ ฀4.3฀฀ ฀$฀ 18.29฀฀ ฀4,070฀฀ ฀$฀ 15.40฀
(c)฀Stock-based฀compensation฀–฀CICA฀3870฀requires฀proforma฀disclosures฀of฀net฀income฀(loss)฀
and฀earnings฀(loss)฀per฀share,฀as฀if฀the฀fair฀value฀method฀rather฀than฀the฀intrinsic฀value฀method฀of฀
accounting฀for฀employee฀stock฀options฀had฀been฀applied฀for฀grants฀awarded฀during฀scal฀2003.฀The฀
disclosures฀in฀the฀following฀table฀show฀the฀Company’s฀net฀loss฀and฀loss฀per฀share฀on฀a฀proforma฀
basis฀using฀the฀fair฀value฀method,฀as฀determined฀by฀using฀the฀Black-Scholes฀option฀pricing฀model,฀
amortizing฀the฀indicated฀value฀over฀the฀life฀of฀the฀underlying฀option฀on฀a฀straight-line฀basis:฀
For฀the฀year฀ended฀฀ ฀ ฀ ฀ March฀1,฀2003
Net฀loss฀–฀as฀reported฀฀฀ ฀ ฀ ฀ ฀ $฀(148,664)
Estimated฀stock-based฀compensation฀costs฀for฀the฀period฀ ฀฀ ฀ ฀ ฀ ฀ 1,370฀
Net฀loss฀–฀proforma฀ ฀฀ ฀ ฀ ฀ ฀ $฀(150,034)
Proforma฀loss฀per฀common฀share:฀
฀ Basic฀and฀diluted฀ ฀ ฀ ฀ ฀ ฀ $฀ (1.93)฀
Weighted฀average฀number฀of฀shares฀(000’s):฀
฀ Basic฀and฀diluted฀ ฀฀ ฀ ฀ ฀ ฀ 77,636฀
฀
The฀weighted฀average฀fair฀value฀of฀options฀granted฀during฀the฀quarter฀was฀calculated฀using฀the฀
Black-Scholes฀option-pricing฀model฀with฀the฀following฀assumptions:฀
For฀the฀year฀ended฀฀ ฀ ฀ ฀ March฀1,฀2003
Number฀of฀options฀issued฀(000’s)฀ ฀ ฀ ฀ ฀ ฀ ฀956฀
Weighted฀average฀Black-Scholes฀value฀of฀each฀option฀ ฀฀ ฀ ฀ ฀ $฀ 8.58฀
Assumptions:฀
฀ Risk฀free฀interest฀rate฀ ฀ ฀ ฀ ฀ ฀ 4.5%
฀ Expected฀life฀in฀years฀฀ ฀ ฀ ฀ ฀ ฀ 3.5฀
฀ Expected฀dividend฀yield฀฀ ฀ ฀ ฀ ฀ ฀ 0%
฀ Volatility฀฀ ฀ ฀ ฀ ฀ ฀ 70%