Green Dot 2010 Annual Report Download - page 93

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Note 11 — Earnings per Common Share (continued)
EPS as their effect was anti-dilutive. The following table shows the weighted-average number of anti-
dilutive shares excluded from the diluted EPS calculation:
Year Ended
December 31, 2010
Five Months Ended
December 31, 2009 2009 2008
Year Ended July 31,
(In thousands, except per share data)
Class A common stock
Options to purchase Class A
common stock. . . . . . . . . . . . . . 22 — — —
Class B common stock
Options to purchase Class B
common stock. . . . . . . . . . . . . . 11 223 97 392
Conversion of convertible
preferred stock . . . . . . . . . . . . . 13,803 24,942 25,674 26,763
Total options and convertible
preferred stock . . . . . . . . . . . . . 13,814 25,165 25,771 27,155
Note 12 — 401(k) Plan
On January 1, 2004, we established a defined contribution savings plan under Section 401(k) of the
Internal Revenue Code. Employees who have attained at least 21 years of age are generally eligible to
participate in the plan on the first day of the calendar month following the month in which employees
commence service with us. Participants may make pre-tax contributions to the plan from their eligible
earnings up to the statutorily prescribed annual limit on pre-tax contributions under the code. We may
contribute to the plan at the discretion of our board of directors. Effective January 1, 2010, the Company
elected to include a discretionary employer matching contribution equal to 50% of the first 6% of the
participant’s eligible compensation as defined by the Plan. The Company’s contributions are allocated in
the same manner as that of the participant’s elective contributions. We made contributions to the plan of
$686,000 for the year ended December 31, 2010, $0 for the five months ended December 31, 2009 and
$58,000 and $8,000 for the years ended July 31, 2009 and 2008, respectively.
Note 13 — Commitments and Contingencies
We lease approximately 80,000 square feet of office space at our headquarters in Monrovia,
California, pursuant to a noncancelable lease agreement for approximately 53,000 square feet that
expires, as to approximately 4,000 square feet, in December 2011 and, as to the remainder, in September
2012 and sub-lease agreements for a total of approximately 27,000 square feet that expire in December
2011. Our total rental expense for these leases amounted to $1.8 million for the year ended December 31,
2010, $0.6 million for the five months ended December 31, 2009, and $1.4 million and $1.2 million for the
years ended July 31, 2009 and 2008, respectively.
84
GREEN DOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)