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2008 Stock Option Activity
Cash Settled
Options
(in thousands)
Net Settled
Options
(in thousands)
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual Term
(in years)
Aggregate
Intrinsic Value
(in millions)
Class A Common Stock
Outstanding as of January 1, 2008 56,272 62,246 $ 25.07
Modified (cash-settled to net-settled) (505) 505 $ 19.14
Granted — 24,728 $ 18.98
Exercised (2,254) (1,245) $ 18.10
Forfeited (986) (2,911) $ 21.16
Expired (6,216) (2,408) $ 36.84
Outstanding as of December 31, 2008 46,311 80,915 $ 23.41 5.6 $ 2.1
Weighted-average exercise price, as of
December 31, 2008 $ 25.91 $ 21.96
Exercisable as of December 31, 2008 38,598 27,937 $ 25.89 3.5 $ 1.1
Weighted-average exercise price, as of
December 31, 2008 $ 27.38 $ 23.83
Class A Special Common Stock
Outstanding as of January 1, 2008 15,206 41,396 $ 22.41
Modified (cash-settled to net-settled) (962) 962 $ 27.89
Exercised (1,747) (5,679) $ 11.29
Forfeited (11) (2) $ 23.44
Expired (815) (79) $ 24.41
Outstanding as of December 31, 2008 11,671 36,598 $ 24.08 2.0 $ 2.6
Weighted-average exercise price, as of
December 31, 2008 $ 23.34 $ 24.32
Exercisable as of December 31, 2008 11,232 32,489 $ 24.15 1.9 $ 2.3
Weighted-average exercise price, as of
December 31, 2008 $ 23.47 $ 24.39
Cash received from cash settled options exercised during the year
ended December 31, 2008 was $49 million.
The table below summarizes information on exercised stock
options.
Year ended December 31 (in millions) 2008 2007 2006
Intrinsic value of options exercised $85 $ 171 $ 180
Tax benefit of options exercised $30 $58 $62
The stock option information above does not include 9.0 million
stock options outstanding, with a weighted average exercise price
of $31.41 per share, for the year ended December 31, 2008.
These stock options were issued under a stock option liquidity
program in 2005 and will expire by the end of 2012.
We also maintain a deferred stock option plan for certain employ-
ees and directors that provided the optionees with the opportunity
to defer the receipt of shares of Class A or Class A Special com-
mon stock that would otherwise be deliverable when the stock
options are exercised. As of December 31, 2008, approximately
2.0 million shares of Class A Special common stock were issuable
under exercised options, the receipt of which was irrevocably
deferred by the optionees under the deferred stock option plan.
63 Comcast 2008 Annual Report on Form 10-K