Memorex 2013 Annual Report Download - page 77

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following table summarizes exercisable options and options expected to vest as of December 31, 2013:
Exercisable Options Options Expected to Vest
Range of Exercise Prices
Stock
Options
Weighted
Average
Remaining
Contractual
Life (Years)
Weighted
Average
Exercise
Price
Stock
Options
Weighted
Average
Remaining
Contractual
Life (Years)
Weighted
Average
Exercise
Price
$3.48 to $6.16 ........................ 287,915 8.1 $ 5.75 1,381,213 8.8 $4.57
$6.17 to $9.64 ........................ 509,312 5.7 8.60 77,456 7.9 7.12
$9.65 to $19.20 ....................... 1,325,913 5.6 10.10 355,502 7.0 9.96
$19.21 to $23.95 ...................... 9,500 4.2 20.20 — — —
$23.96 to $28.70 ...................... 521,320 3.2 24.49 — — —
$28.71 to $39.38 ...................... 475,438 1.8 36.01 — — —
$39.39 to $41.75 ...................... 228,775 1.5 41.24 — — —
$41.76 to $46.97 ...................... 2,500 2.4 45.76 — — —
$3.48 to $46.97 ..................... 3,360,673 4.7 $17.57 1,814,171 8.4 $5.73
Total stock-based compensation expense associated with stock options related to continuing operations recognized in
our Consolidated Statements of Operations for the years ended December 31, 2013, 2012 and 2011 was $2.7 million,
$3.3 million and $3.8 million, respectively. This expense would result in related tax benefits of $0.9 million, $1.1 million and
$1.3 million for the years ended December 31, 2013, 2012 and 2011, respectively. However, these tax benefits are included
in the U.S. deferred tax assets which are subject to a full valuation allowance, and due to the valuation allowance, we did not
recognize the related tax benefits in 2013, 2012 or 2011. As of December 31, 2013 there was $2.8 million of total
unrecognized compensation expense related to outstanding stock options. That expense is expected to be recognized over a
weighted average period of 1.5 years.
No related stock-based compensation was capitalized as part of an asset for the years ended December 31, 2013, 2012
or 2011.
Restricted Stock
The following table summarizes our restricted stock activity:
Restricted
Stock
Weighted
Average
Grant Date
Fair Value
Per Share
Nonvested as of December 31, 2010 ...................................... 739,196 $11.34
Granted ......................................................... 385,049 9.28
Vested .......................................................... (274,934) 12.15
Forfeited ......................................................... (54,265) 12.05
Nonvested as of December 31, 2011 ...................................... 795,046 $10.02
Granted ......................................................... 708,573 5.67
Vested .......................................................... (321,103) 10.30
Forfeited ......................................................... (156,712) 8.72
Nonvested as of December 31, 2012 ...................................... 1,025,804 $ 7.12
Granted ......................................................... 837,443 3.75
Vested .......................................................... (561,099) 6.99
Forfeited ......................................................... (109,827) 6.59
Nonvested as of December 31, 2013 ...................................... 1,192,321 $ 4.87
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