Equifax 2006 Annual Report Download - page 62

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
60 EQUIFAX 2006 ANNUAL REPORT
shareholder-approved plans. The plan requires that stock options be granted at exercise prices not less than market value
on the date of grant. Generally, stock options are subject to graded vesting for periods of up to three years based on service,
with 25% vesting immediately upon grant, and expire ten years from the grant date. The following table summarizes
changes in outstanding stock options during the twelve months ended December 31, 2006, as well as stock options that
are vested and expected to vest and stock options exercisable at December 31, 2006:
Weighted-
Weighted- Average
Average Remaining Aggregate
Exercise Contractual Intrinsic
Shares Price Term Value
(In thousands) (In years) (In millions)
Outstanding at December 31, 2005 6,453 $22.68
Granted (all at market price) 825 $36.56
Exercised (1,298) $20.92
Forfeited and cancelled (50) $29.36
Outstanding at December 31, 2006 5,930 $ 24.95 5.4 $92.8
Vested and expected to vest at December 31, 2006 5,823 $ 24.81 5.4 $91.9
Exercisable at December 31, 2006 4,798 $23.03 4.8 $84.3
The aggregate intrinsic value amounts in the table above represent the difference between the closing price of Equifax’s
common stock on December 31, 2006 and the exercise price, multiplied by the number of in-the-money stock options as
of the same date. This represents the amount that would have been received by the stock option holders if they had all
exercised their stock options on December 31, 2006. In future periods, this amount will change depending on fl uctuations
in Equifax’s stock price. The total intrinsic value of stock options exercised during the twelve months ended December 31,
2006 was $21.4 million.
The following table summarizes changes in outstanding options and the related weighted-average exercise price per
share for the twelve months ended December 31, 2005 and 2004:
December 31,
2005 2004
Average Average
(Shares in thousands) Shares Price Shares Price
Outstanding at the beginning of the year 9,484 $ 20.76 11,126 $19.65
Granted (all at market price) 745 $30.99 935 $25.70
Forfeited and cancelled (89) $ 25.06 (270) $20.17
Exercised (3,687) $ 33.78 (2,307) $ 17.47
Outstanding at the end of the year 6,453 $ 22.68 9,484 $20.76
Exercisable at the end of the year 5,309 $ 21.72 7,891 $20.16
Nonvested Stock. Our plan also provides for awards of nonvested shares of our common stock that can be granted to execu-
tive offi cers, employees and directors. Nonvested stock awards are generally subject to cliff vesting over a period between
three to fi ve years based on service. The following table summarizes changes in our nonvested stock during the twelve
months ended December 31, 2006 and the related weighted-average grant date fair value:
Weighted-
Average
Grant Date
(In thousands) Shares Fair Value
Nonvested at December 31, 2005 689 $28.74
Granted 271 $36.97
Vested (133) $27.94
Forfeited (16) $27.90
Nonvested at December 31, 2006 811 $31.64
The total fair value of nonvested stock that vested during the twelve months ended December 31, 2006 was $4.8 million,
based on the weighted-average fair value on the vesting date, and $3.7 million, based on the weighted-average fair value on
the date of grant.