Health Net 2010 Annual Report Download - page 129
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HEALTH NET, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
A summary of option activity under our various plans as of December 31, 2010, and changes during the year
then ended is presented below:
Number of
Options
Weighted
Average
Exercise Price
Weighted Average
Remaining
Contractual Term
(Years)
Aggregate
Intrinsic Value
Outstanding at January 1, 2010 ................ 5,751,048 $29.33
Granted ................................... 1,076,179 23.18
Exercised ................................. (192,315) 18.95
Forfeited or expired ......................... (241,874) 34.18
Outstanding at December 31, 2010 ............. 6,393,038 $28.43 3.67 $17,884,994
Vested or expected to vest at December 31, 2010
(reflecting estimated forfeiture rates effective in
2010) .................................. 6,283,399 $28.52 3.62 $17,357,465
Exercisable at December 31, 2010 .............. 4,985,173 $29.82 2.93 $11,088,533
Options Outstanding Options Exercisable
Range of
Exercise Prices
Number of
Options
Weighted Average
Remaining
Contractual Life
(Years)
Weighted Average
Exercise Price
Number of
Options
Weighted Average
Exercise Price
$ 7.78 – 20.00 ............... 260,200 5.99 $14.66 88,694 $15.04
20.01 – 25.00 ............... 3,553,831 2.93 23.21 2,459,677 23.26
25.01 – 30.00 ............... 1,183,229 3.79 28.64 1,105,067 28.72
30.01 – 40.00 ............... 400,384 3.95 33.51 392,780 33.55
40.01 – 50.00 ............... 808,681 5.27 46.97 780,067 46.92
50.01 – 58.07 ............... 186,713 6.04 54.20 158,888 54.23
$ 7.78 – 58.07 ............... 6,363,038 3.67 $28.43 4,985,173 $29.82
We have entered into restricted stock, RSU and PSU agreements with certain employees. We have awarded
shares of restricted common stock under the restricted stock agreements and rights to receive common stock
under the RSU and PSU agreements to certain employees. Each RSU and each PSU represents the right to
receive, upon vesting, one share of common stock. Awards of restricted stock, RSUs and PSUs are subject to
restrictions on transfer and forfeiture prior to vesting. During the years ended December 31, 2010, 2009 and
2008, we did not award any restricted stock. During the years ended December 31, 2010, 2009 and 2008, we
awarded 792,597, 926,649 and 1,000,699, respectively, combined RSUs and PSUs.
As of December 31, 2010 and 2009, we had no restricted common stock awards outstanding.
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