Metro PCS 2009 Annual Report Download - page 140

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MetroPCS Communications, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2009, 2008 and 2007
F-26
The following table summarizes information about stock options outstanding at December 31, 2009:
Options Outstanding Options Vested
Exercise Price
Number of
Shares
Weighted
Average
Contractual
Life
Weighted
Average
Exercise
Price
Number of
Shares
Weighted
Average
Exercise
Price
$0.08 - $7.13.................................................................... 5,213,202 4.18 $ 4.48 5,116,802 $ 4.44
$7.15 - $8.67.................................................................... 3,467,022 5.86 $ 7.30 3,219,577 $ 7.27
$11.33 - $11.33................................................................ 6,617,893 6.63 $ 11.33 5,637,183 $ 11.33
$12.77 - $15.29................................................................ 4,018,892 8.95 $ 14.44 339,077 $ 14.78
$16.20 - $16.20................................................................ 5,038,791 8.09 $ 16.20 2,258,291 $ 16.20
$16.40 - $21.10................................................................ 1,072,952 8.50 $ 18.10 354,579 $ 18.33
$23.00 - $23.00................................................................ 4,940,608 7.08 $ 23.00 3,393,934 $ 23.00
$24.79 - $36.58................................................................ 1,050,904 7.52 $ 32.11 630,477 $ 32.18
During the year ended December 31, 2009, 1,792,991 options granted under the Equity Plans were exercised for
1,792,991 shares of common stock. The intrinsic value of these options was approximately $15.0 million and total
proceeds were approximately $8.6 million for the year ended December 31, 2009. During the year ended
December 31, 2008, 2,810,245 options granted under the Equity Plans were exercised for 2,810,245 shares of
common stock. The intrinsic value of these options was approximately $38.6 million and total proceeds were
approximately $12.6 million for the year ended December 31, 2008. During the year ended December 31, 2007,
2,562,056 options granted under the Equity Plans were exercised for 2,562,056 shares of common stock. The
intrinsic value of these options was approximately $47.7 million and total proceeds were approximately $9.7 million
for the year ended December 31, 2007.
The following table summarizes information about unvested stock option grants:
Stock Option Grants Shares
Weighted
Average
Grant-Date
Fair Value
Unvested balance, January 1, 2007........................................................................................... 14,633,949 $ 3.60
Grants ....................................................................................................................................... 8,476,998 $ 9.89
Vested shares............................................................................................................................ (5,677,364) $ 3.76
Forfeitures ................................................................................................................................ (1,694,774) $ 4.76
Unvested balance, December 31, 2007..................................................................................... 15,738,809 $ 6.99
Grants ....................................................................................................................................... 6,566,165 $ 6.95
Vested shares............................................................................................................................ (6,824,591) $ 6.59
Forfeitures ................................................................................................................................ (639,403) $ 8.12
Unvested balance, December 31, 2008..................................................................................... 14,840,980 $ 7.11
Grants ....................................................................................................................................... 3,725,564 $ 6.43
Vested shares............................................................................................................................ (7,101,612) $ 6.63
Forfeitures ................................................................................................................................ (994,588) $ 6.64
Unvested balance, December 31, 2009..................................................................................... 10,470,344 $ 7.24
The weighted average grant-date fair value of the stock option grants for the years ended December 31, 2009,
2008 and 2007 was $6.43, $6.95 and $9.89, respectively. The total fair value of stock options that vested during the
year ended December 31, 2009 was $47.1 million.
The Company has recognized $43.9 million, $41.1 million and $28.0 million of stock-based compensation
expense related to stock option grants in the years ended December 31, 2009, 2008 and 2007, respectively, and an
income tax benefit of $17.3 million, $17.2 million and $11.0 million, respectively.
As of December 31, 2009, there was approximately $71.7 million of unrecognized stock-based compensation cost
related to unvested share-based compensation arrangements, which is expected to be recognized over a weighted