Classmates.com 2010 Annual Report Download - page 138

Table of Contents
UNITED ONLINE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
8. STOCK-BASED COMPENSATION PLANS (Continued)
Stock Options
The following table summarizes stock option activity during the years ended December 31, 2008, 2009 and 2010:
There was no unrecognized compensation cost related to nonvested stock options at December 31, 2010.
The total intrinsic value of stock options exercised during the years ended December 31, 2010, 2009 and 2008 was $2.0 million,
$0.3 million, and $0.7 million, respectively. Cash received from the exercise of stock options was $1.7 million, $0.5 million and $1.7 million,
respectively, for the years ended December 31, 2010, 2009 and 2008. Tax benefits realized from stock options exercised in the years ended
December 31, 2010, 2009 and 2008 were approximately $0.8 million, $0.1 million and $0.2 million, respectively.
Recent Awards
Effective February 15, 2011, the Compensation Committee of the Board of Directors of United Online, Inc. (the "Compensation
Committee") approved grants of 2.4 million stock options with a grant-
date fair value equal to $4.7 million to certain members of the Company's
senior management. Each stock option entitles the recipient to receive one share of United Online Inc.'s common stock upon exercise of the
vested award. The stock options will vest as to one-third of the total number of options awarded annually over a three-year period beginning
February 15, 2011.
Employee Stock Purchase Plans
The Company's 2001 Employee Stock Purchase Plan had 9.7 million shares of the Company's common stock reserved for issuance at
December 31, 2010. At December 31, 2010, 3.6 million shares were available for issuance. The 2001 Employee Stock Purchase Plan will expire
in 2011 following the completion of the final purchase thereunder.
F-32
Options
Outstanding
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Life
Aggregate
Intrinsic
Value
(in thousands) (in years) (in thousands)
Outstanding at January 1, 2008
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
Exercised
(528
)
$
3.21
Canceled
(193
)
$
12.30
Outstanding at December 31, 2010
1,714
$
8.82
2.3
$
895
Exercisable at December 31, 2010
1,714
$
8.82
2.3
$
895