Kodak 2010 Annual Report Download - page 94

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Under the 2000 Plan, 22 million shares of the Company's common stock were eligible for grant to a variety of employees between
January 1, 2000 and December 31, 2004. The 2000 Plan was substantially similar to, and was intended to replace, the 1995 Plan,
which expired on December 31, 1999. The options generally expire ten years from the date of grant, but may expire sooner if the
optionee's employment terminates. The 2000 Plan provided for, but was not limited to, grants of unvested stock, performance
awards, and SARs, either in tandem with options or freestanding. As of December 31, 2010, 27,527 freestanding SARs were
outstanding under the 2000 Plan at option prices ranging from $23.25 to $40.97. Compensation expense recognized for the years
ended December 31, 2010, 2009, and 2008 on those freestanding SARs was not material.
Under the 1995 Plan, 22 million shares of the Company’s common stock were eligible for grant to a variety of employees between
February 1, 1995 and December 31, 1999. The options generally expire ten years from the date of grant, but may expire sooner if
the optionee’s employment terminates. The 1995 Plan provided for, but was not limited to, grants of unvested stock, performance
awards, and SARs, either in tandem with options or freestanding. As of December 31, 2010, no freestanding SARs were outstanding
under the 1995 Plan.
Further information relating to stock options is as follows:
Shares
Weighted-Average
Under
Range of Price
Exercise
(Amounts in thousands, except per share amounts)
Option
Per Share
Price Per Share
Outstanding on December 31, 2007
30,893
$20.12 - $87.59
$39.70
Granted
2,813
$7.41 - $18.55
$ 7.60
Exercised
0
N/A
N/A
Terminated, Expired, Surrendered
8,499
$20.12 - $87.59
$52.78
Outstanding on December 31, 2008
25,207
$7.41 - $79.63
$31.71
Granted
1,229
$2.64 - $6.76
$ 4.61
Exercised
0
N/A
N/A
Terminated, Expired, Surrendered
2,916
$7.41 - $79.63
$45.73
Outstanding on December 31, 2009
23,520
$2.64 - $65.91
$28.55
Granted
300
$3.96 - $5.96
$ 4.17
Exercised
0
N/A
N/A
Terminated, Expired, Surrendered
5,790
$7.41 - $65.91
$37.68
Outstanding on December 31, 2010
18,030
$2.64 - $48.34
$25.22
Exercisable on December 31, 2008
20,772
$21.93 - $79.63
$35.56
Exercisable on December 31, 2009
20,018
$7.41 - $65.91
$31.96
Exercisable on December 31, 2010
16,036
$2.64 - $48.34
$27.64
The following table summarizes information about stock options as of December 31, 2010:
(Number of options in thousands)
Options Outstanding
Options Exercisable
Range of Exercise
Weighted-Average
Prices
Remaining
At Less
Contractual Life
Weighted-Average
Weighted-Average
Least Than
Options
(Years)
Exercise Price
Options
Exercise Price
$ 2 - $20
4,075
5.02
$ 6.46
2,081
$ 7.18
$20 - $30
5,053
2.12
$25.41
5,053
$25.41
$30 - $40
8,347
1.18
$33.16
8,347
$33.16
$40 - $50
555
0.08
$41.65
555
$41.65
18,030
16,036
At December 31, 2010, the weighted-average remaining contractual term of all options outstanding and exercisable was 2.28 years
and 1.88 years respectively. There was no intrinsic value of options outstanding and exercisable due to the fact that the market price
of the Company's common stock as of December 31, 2010 was below the weighted-average exercise price of options. There were
no option exercises during 2008, 2009 or 2010.