Cablevision 2011 Annual Report Download - page 199
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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except per share amounts)
I-75
Cablevision stock options held by AMC Networks and Madison Square Garden employees are not
expensed by the Company, however such stock options do have a dilutive effect on net income per share
attributable to Cablevision stockholders. The following table summarizes activity relating to AMC
Networks and Madison Square Garden employees who held Cablevision stock options for the year ended
December 31, 2011:
Weighted
Shares Under Option
Weighted
Average
Average
Remaining
Time
Vesting
Options
Performance
Vesting
Options
Exercise
Price Per
Share(a)
Contractual
Term
(in years)
Aggregate
Intrinsic
Value(b)
Balance, December 31,
2010 .............................. 906,985 92,200 $11.57 4.29 $22,252
Exercised ...................... (153,077) (59,800) 14.05
Balance, December 31,
2011 .............................. 753,908 32,400 $ 7.97 3.10 $ 4,933
Options exercisable at
December 31, 2011 ...... 628,642 32,400 $ 8.29 3.17 $ 3,933
Options expected to vest
in the future .................. 125,266 - $ 6.24 2.68 $ 1,000
______________
(a) Option exercise prices relating to activity occurring on and subsequent to the AMC Networks Distribution date
were adjusted to 73.59% of their pre-AMC Networks Distribution exercise prices.
(b) The aggregate intrinsic value is calculated as the difference between (i) the exercise price of the underlying award
and (ii) the quoted price of CNYG Class A common stock on December 31, 2011 or December 31, 2010, as
indicated, and December 31, 2011 in the case of the options expected to vest in the future.
The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying
awards and the quoted price of Cablevision's common stock for the 6,395,053 options outstanding that
were in-the-money (which includes 5,236,388 exercisable options) at December 31, 2011. For the year
ended December 31, 2011, the aggregate intrinsic value of options exercised under Cablevision's stock
option plans was $12,074 determined as of the date of option exercise, as applicable. When an option is
exercised, Cablevision issues new shares of stock.