Comcast 2010 Annual Report Download - page 88

Table of Contents
2010 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, 2010
35,817
106,738
$
19.74
Granted —
31,284
$
18.33
Exercised
(1,891
)
(2,344
)
$
18.26
Forfeited
(179
)
(6,040
)
$
17.42
Expired
(6,710
)
(4,280
)
$
31.45
Outstanding as of December 31, 2010
27,037
125,358
$
18.74
6.1
$
544.0
Weighted-average exercise price, as of
December 31, 2010
$
19.71
$
18.54
Exercisable as of December 31, 2010
25,391
41,294
$
20.21
3.7
$
150.2
Weighted-average exercise price, as of
December 31, 2010
$
19.74
$
20.51
Weighted-average remaining contractual
term
2.5
4.5
Aggregate intrinsic value (in millions)
$
61.5
$
88.7
Class A Special Common Stock
Outstanding as of January 1, 2010
9,646
28,976
$
24.47
Exercised
(48
)
(146
)
$
16.50
Forfeited
(19
)
(188
)
$
24.08
Expired
(3,022
)
(14,679
)
$
26.47
Outstanding as of December 31, 2010
6,557
13,963
$
22.82
0.9
$
17.6
Weighted-average exercise price, as of
December 31, 2010
$
22.36
$
23.04
Exercisable as of December 31, 2010
6,416
12,413
$
22.80
0.9
$
16.6
Weighted-average exercise price, as of
December 31, 2010
$
22.40
$
23.00
Weighted-average remaining contractual
term
1.0
0.9
Aggregate intrinsic value (in millions)
$
7.5
$
9.1
Comcast 2010 Annual Report on Form 10-K
78
Cash received from cash settled options exercised during the
year ended December 31, 2010 was $34 million.
Exercised Stock Options
The stock option information above does not include
4.5 million stock options outstanding, with a weighted-
average exercise price of $20.64 per share, for the year
ended December 31, 2010. 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
employees and directors that provided the optionees with the
opportunity to defer the receipt of shares of Class A or
Class A Special com-
Year ended December 31 (in millions)
2010
2009
2008
Intrinsic value of options
exercised
$
8
$
—
$
85
Tax benefit of options exercised
$
3
$
—
$
30
mon stock that would otherwise be deliverable when the
stock options are exercised. As of December 31, 2010,
approximately 1.9 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.
Restricted Stock Plan
We maintain a restricted stock plan under which certain
employees and directors (“participants”) may be granted RSU
awards in units of Class A or Class A Special common stock.
Under the restricted stock plan, a combined total of
approximately 51 million shares of our Class A and Class A
Special common stock are reserved for issuance, including
those outstanding as of
December 31, 2010. RSUs, which are valued based on the
closing price on the date of grant and discounted for the lack
of dividends, if any, during the vesting period, entitle
participants to receive, at the time of vesting, one share of
common stock for each RSU. The awards vest annually,
generally over a period not to exceed 5