Google 2009 Annual Report Download - page 108

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Google Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table summarizes the activities for our options for the year ended December 31, 2009:
Options Outstanding
Number of
Shares
Weighted-
Average
Exercise Price
Weighted-
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value
(in millions) (1)
Balance at December 31, 2008 ..................... 13,971,438 $ 391.40
Options granted (2) ....................... 9,260,176 $ 324.17
Exercised ............................... (1,976,571) $ 179.13
Canceled/forfeited (2) .................... (8,478,555) $507.74
Balance at December 31, 2009 ..................... 12,776,488 $298.73 6.6 $ 4,104.6
Vested and exercisable as of December 31,
2009 ..................................... 5,709,255 $ 262.19 5.9 $ 2,046.2
Vested and exercisable as of December 31, 2009
and expected to vest thereafter (3) ........... 12,076,836 $296.99 6.6 $3,900.8
(1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying
awards and the closing stock price of $619.98 of our Class A common stock on December 31, 2009.
(2) The number of options granted and canceled/forfeited includes options granted and canceled in connection
with the Exchange (see below).
(3) Options expected to vest reflect an estimated forfeiture rate.
The following table summarizes additional information regarding outstanding, exercisable, and exercisable
and vested stock options at December 31, 2009:
Options Outstanding Options Exercisable Options Exercisable
and Vested
Range of Exercise
Prices Number of
Shares
Weighted-
Average
Remaining
Life
(Years)
Weighted-
Average
Exercise
Price Number of
Shares
Weighted-
Average
Exercise
Price Number of
Shares
Weighted-
Average
Exercise
Price
$0.30–$94.80 ......... 599,660 3.8 $ 23.02 576,875 $ 21.82 534,834 $ 22.99
$117.84–$198.41 ....... 1,051,326 3.8 $ 177.18 1,050,712 $ 177.17 1,050,712 $ 177.17
$205.96–$298.91 ...... 1,081,141 4.3 $ 275.15 1,064,968 $ 274.93 1,064,968 $ 274.93
$300.97–$399.00 ..... 8,581,329 7.2 $309.78 2,755,094 $ 310.20 2,755,094 $ 310.20
$401.78–$499.07 ...... 1,200,173 8.8 $437.60 121,014 $ 442.15 121,014 $ 442.15
$500.03–$594.05 ..... 255,673 4.1 $535.60 180,056 $ 532.25 180,056 $ 532.25
$611.68–$699.35 ...... 7,106 7.2 $629.66 2,537 $648.60 2,537 $648.60
$710.84 ............... 80 8.0 $710.84 40 $ 710.84 40 $ 710.84
$0.30–$710.84 ........ 12,776,488 6.6 $298.73 5,751,296 $ 260.32 5,709,255 $ 262.19
The above tables include approximately 1.5 million warrants held by selected financial institutions that were
options purchased from employees under our TSO program, with a weighted-average exercise price of $303.82.
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