Blackberry 2010 Annual Report Download - page 87

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A summary of option activity since March 3, 2007 is shown below:
Number
(in 000’s)
Weighted-
Average
Exercise
Price
Average
Remaining
Contractual
Life in Years
Aggregate
Intrinsic
Value
Options Outstanding
Balance as at March 3, 2007 .......................................................... 19,161 $ 10.85
Granted during the year ................................................................. 2,518 101.60
Exercised during the year ............................................................... (5,039) 10.82
Forfeited/cancelled/expired during the year .................................... (174) 31.76
Balance as at March 1, 2008........................................................... 16,466 $ 28.66
Exercised during the year ............................................................... (3,565) 7.60
Forfeited/cancelled/expired during the year .................................... (170) 60.25
Balance as at February 28, 2009 .................................................... 12,731 $ 27.51
Granted during the year ................................................................. 559 64.14
Exercised during the year ............................................................... (3,408) 8.87
Forfeited/cancelled/expired during the year .................................... (859) 15.03
Balance as at February 27, 2010 ..................................................... 9,023 $ 44.18 2.44 $ 307,626
Vested and expected to vest as at February 27, 2010 ...................... 8,814 $ 43.62 2.41 $ 304,259
Exercisable as at February 27, 2010 ................................................ 5,968 $ 32.15 1.76 $ 258,577
The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the aggregate difference
between the closing stock price of the Company’s common shares on February 27, 2010 and the exercise price for
in-the-money options) that would have been received by the option holders if all in-the-money options had been exercised
on February 27, 2010. The intrinsic value of stock options exercised during fiscal 2010, calculated using the average market
price during the period, was approximately $58 per share.
A summary of unvested stock options since February 28, 2009 is shown below:
Number (in 000’s)
Weighted
Average
Grant
Date Fair
Value
Options Outstanding
Balance as at February 28, 2009 ................................................................................................ 4,045 $ 29.69
Granted during the period .......................................................................................................... 559 33.02
Vested during the period ............................................................................................................ (1,468) 24.83
Forfeited during the period ......................................................................................................... (80) 37.45
Balance as at February 27, 2010 ................................................................................................. 3,056 $ 32.44
As at February 27, 2010, there was $74.7 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 1.9 years. The total fair value of stock options vested during the year ended February 27, 2010 was
$36.5 million.
Cash received from the stock options exercised for the year ended February 27, 2010 was $30.2 million (February 28,
2009 — $27.0 million). Tax benefits realized by the Company related to the stock options exercised was $1.9 million
(February 28, 2009 — $12.6 million; March 1, 2008 — $8.2 million).
NOTE 11
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