Google 2011 Annual Report Download - page 107

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The following table summarizes additional information regarding outstanding, exercisable, and exercisable
and vested stock options at December 31, 2011:
Options Outstanding Options Exercisable Options Exercisable
and Vested
Range of Exercise Prices Number of
Shares
Weighted-
Average
Remaining
Life
(in years)
Weighted-
Average
Exercise
Price Number of
Shares
Weighted-
Average
Exercise
Price Number of
Shares
Weighted-
Average
Exercise
Price
$0.30–$94.80 ......... 297,360 2.6 $ 28.06 296,392 $ 27.85 278,071 $ 24.73
$117.84–$198.41 ....... 412,843 2.9 $ 179.12 412,843 $ 179.12 412,843 $ 179.12
$205.96–$298.86 ..... 505,760 3.2 $ 275.21 502,038 $ 275.12 502,038 $ 275.12
$300.97–$399.00 ..... 5,478,754 5.0 $ 309.68 4,012,895 $ 309.71 4,012,895 $ 309.71
$401.78–$499.07 ...... 935,944 6.6 $ 439.16 514,417 $ 437.28 514,417 $ 437.28
$501.27–$595.35 ...... 1,892,340 8.4 $ 532.44 509,780 $ 524.69 509,780 $ 524.69
$601.17–$699.35 ...... 284,171 9.1 $ 610.18 14,659 $ 612.09 14,659 $ 612.09
$710.84 ............... 80 6.0 $ 710.84 80 $ 710.84 80 $ 710.84
$0.30–$710.84 ........ 9,807,252 5.7 $ 357.92 6,263,104 $ 313.68 6,244,783 $ 314.38
The above tables include approximately 1.2 million warrants held by selected financial institutions that were
options purchased from employees under our TSO program, with a weighted-average exercise price of $336.64
and a weighted-average remaining life of 1.1 years.
During 2011, the number of shares underlying TSOs sold to selected financial institutions under the TSO
program was 635,047 at a total value of $167 million, or an average of $262.74 per share, including an average
premium of $11.09 per share. The premium is calculated as the difference between (a) the sale price of the TSO
and (b) the intrinsic value of the TSO, which we define as the excess, if any, of the price of our Class A common
stock at the time of the sale over the exercise price of the TSO.
The total grant date fair value of stock options vested during 2009, 2010, and 2011 was $690 million, $690
million, and $561 million. The aggregate intrinsic value of all options and warrants exercised during 2009, 2010,
and 2011 was $566 million, $794 million, and $674 million. These amounts do not include the aggregate sales
price of options sold under our TSO program.
As of December 31, 2011, there was $583 million of unrecognized compensation cost related to outstanding
employee stock options. This amount is expected to be recognized over a weighted-average period of 2.1 years. To
the extent the actual forfeiture rate is different from what we have estimated, stock-based compensation related
to these awards will be different from our expectations.
The following table summarizes the activities for our unvested RSUs for the year ended December 31, 2011:
Unvested Restricted Stock Units
Number of
Shares
Weighted-
Average
Grant-Date
Fair Value
Unvested at December 31, 2010 ............................................. 6,671,971 $509.04
Granted .............................................................. 5,260,421 $ 531.20
Vested ............................................................... (2,691,549) $ 516.22
Forfeited/canceled ..................................................... (418,195) $ 538.01
Unvested at December 31, 2011 .............................................. 8,822,648 $ 520.27
Expected to vest after December 31, 2011(1) .................................... 7,903,328 $ 520.27
(1) RSUs expected to vest reflect an estimated forfeiture rate.
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