Classmates.com 2009 Annual Report Download - page 138
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Table of Contents
UNITED ONLINE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
9. STOCK-BASED COMPENSATION PLANS (Continued)
Stock Options
The following table summarizes stock option activity during the years ended December 31, 2007, 2008 and 2009:
Total unrecognized compensation cost related to unvested stock options at December 31, 2009, net of expected forfeitures, was
approximately $17,000 and was expected to be recognized over a weighted-average period of 0.2 years.
The total intrinsic value of options exercised during the years ended December 31, 2009, 2008 and 2007 was $0.3 million, $0.7 million, and
$7.4 million, respectively. Cash received from the exercise of stock options was $0.5 million, $1.7 million, and $8.6 million, respectively, for the
years ended December 31, 2009, 2008 and 2007. The tax benefits realized from stock options exercised in the years ended December 31, 2009,
2008 and 2007 were approximately $0.1 million, $0.2 million and $2.8 million, respectively.
Employee Stock Purchase Plan
The Company has an employee stock purchase plan, which expires in 2011, and under which 8.7 million shares of the Company's common
stock were reserved for issuance under the plan at December 31, 2009. At December 31, 2009, 3.6 million shares were available for issuance.
Under the employee stock purchase plan, each eligible employee may authorize payroll deductions of up to 15% of their compensation to
purchase shares of common stock on two purchase dates each year at a purchase price per share equal to 85% of the lower of (i) the closing
market price per share of the Company's common stock on the employee's entry date into the two-year offering period in which the purchase
date occurs or (ii) the closing market price per share of the Company's common stock on the purchase date. Each offering period has a 24-month
duration and purchase intervals of six months.
F-34
Options
Outstanding
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Life
Aggregate
Intrinsic
Value
(in thousands)
(in years)
(in thousands)
Outstanding at January 1, 2007
7,109
$
12.37
Exercised
(1,068
)
$
8.06
Canceled
(778
)
$
15.12
Outstanding at December 31, 2007
5,263
$
12.83
Exercised
(220
)
$
7.57
Canceled
(139
)
$
12.53
Outstanding at December 31, 2008
4,904
$
13.08
Exercised
(121
)
$
4.53
Canceled
(2,348
)
$
13.36
Outstanding at December 31, 2009
2,435
$
7.88
3.0
$
3,546
Exercisable at December 31, 2009
2,430
$
7.87
2.9
$
3,546
Expected to vest at December 31, 2009
5
$
13.06
6.2
$
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