DIRECTV 2008 Annual Report Download - page 108

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THE DIRECTV GROUP, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
Changes in the status of outstanding restricted stock units were as follows:
Weighted-Average
Grant-Date
Stock Units Fair Value
Nonvested at January 1, 2008 ................................. 9,416,496 $17.99
Granted ................................................ 2,692,310 23.19
Vested and Distributed ..................................... (3,166,095) 17.00
Forfeited ................................................ (1,245,271) 17.78
Nonvested at December 31, 2008 .............................. 7,697,440 20.25
The weighted average grant-date fair value of restricted stock units granted during the year ended
December 31, 2007 was $23.69. The weighted average grant-date fair value of restricted stock units
granted during the year ended December 31, 2006 was $13.57.
The total fair value of restricted stock units vested and distributed was $54 million during the year
ended December 31, 2008, $33 million during the year ended December 31, 2007 and $21 million
during the year ended December 31, 2006.
Stock Options
The Compensation Committee has also granted stock options to acquire our common stock under
our stock plans to certain of our employees and executives. The exercise price of options granted is
equal to at least 100% of the fair market value of the common stock on the date the options were
granted. These nonqualified options generally vest over one to five years, expire ten years from date of
grant and are subject to earlier termination under certain conditions.
Changes in the status of outstanding options were as follows:
Shares Weighted-Average Aggregate
Under Weighted-Average Remaining Intrinsic
Option Exercise Price Contractual Term Value
(in
millions)
Outstanding at January 1, 2008 ........... 48,634,539 $28.69
Granted ........................... — —
Exercised ........................... (5,506,070) 19.09
Forfeited or expired ................... (6,061,725) 33.18
Outstanding at December 31, 2008 ........ 37,066,744 29.38 2.1 $31
Exercisable at December 31, 2008 ......... 36,260,477 $29.54 2.0 $31
The total intrinsic value of options exercised was $38 million during the year ended December 31,
2008, $59 million during the year ended December 31, 2007 and $115 million during the year ended
December 31, 2006, based on the intrinsic value of individual awards on the date of exercise.
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