Blackberry 2007 Annual Report Download - page 93

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91
March 3, 2007. The intrinsic value of stock options exercised
during fiscal 2007, calculated using the average market price
during the year, was approximately $84 per share.
A summary of unvested stock options since March 4, 2006
is shown below:
Options Outstanding
Number in
(in 000’s)
Weighted-
average grant
date fair value
Balance as at March 4, 2006 4,708 $ 13.84
Granted during the year 584 49.90
Vested during the year (2,133) 9.01
Forfeited during the year (116) 15.45
Balance as at March 3, 2007 3,043 $ 24.09
As of March 3, 2007, there was $49.2 million of unrecognized
stock-based compensation expense related to unvested
stock options which will be expensed over the vesting period,
which, on a weighted-average basis, results in a period of
approximately 2.1 years. The total fair value of stock options
vested during year ended March 3, 2007 was $19.2 million.
Cash received from stock option exercises for the year
ended March 3, 2007 was $44.5 million (March 4, 2006 - $23.3
million).
The following table illustrates the effect on reported net
income and earnings per share if the Company had applied
the fair value recognition provisions of SFAS 123 to stock-
based employee compensation in fiscal 2006 and fiscal 2005:
For the year ended
March 4,
2006 February 26,
2005
(Restated - note 4) (Restated - note 4)
Net income - as reported $ 374,656 $ 205,612
Add: Stock-based employee compensation expense included in restated
net income, net of tax 5,942 6,676
Deduct: Total stock-based employee compensation expense determined under
fair value method for all awards, net of tax (25,000) (27,176)
Net income - pro forma $ 355,598 $ 185,112
Weighted-average number of shares outstanding (000’s) - basic 188,914 187,653
Effect of dilutive securities: Employee stock options 6,596 9,445
Weighted-average number of shares and assumed conversions - diluted 195,510 197,098
Pro forma earnings per common share:
Basic $ 1.88 $ 0.99
Diluted $ 1.82 $ 0.94