NetFlix 2003 Annual Report Download - page 77

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NETFLIX, INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(in thousands, except share, per share and per DVD data)
A summary of the activities related to the Company’s options is as follows:
Shares
Available
for Grant
Options Outstanding
Number of
Shares
Weighted-
Average
Exercise
Price
Balances as of December 31, 2000 ................ 1,072,518 2,278,038 $ 3.72
Authorized ............................... 6,266,666 — —
Granted .................................. (6,915,318) 6,915,318 1.60
Exercised ................................ — (60,092) 2.07
Canceled ................................. 3,134,318 (3,134,318) 3.67
Repurchased .............................. 11,250 — —
Balances as of December 31, 2001 ................ 3,569,434 5,998,946 1.49
Authorized ............................... 1,333,334 — —
Granted .................................. (3,540,286) 3,540,286 2.05
Exercised ................................ — (882,166) 1.48
Canceled ................................. 456,006 (456,006) 1.82
Repurchased .............................. 3,458 — —
Balances as of December 31, 2002 ................ 1,821,946 8,201,060 1.71
Authorized ............................... 2,000,000 — —
Granted .................................. (705,030) 705,030 16.78
Exercised ................................ — (2,657,934) 1.86
Canceled ................................. 351,572 (351,572) 2.24
Balances as of December 31, 2003 ................ 3,468,488 5,896,584 3.42
Options exercisable as of December 31:
2001 .................................... 1,836,504 $ 1.47
2002 .................................... 2,577,066 1.49
2003 .................................... 3,367,308 4.21
The following table summarizes information on outstanding and exercisable options as of December 31,
2003:
Options Outstanding
Options Exercisable
Exercise Price
Number of
Options
Weighted-
Average
Remaining
Contractual
Life (Years)
Weighted-
Average
Exercise
Price
Number of
Options
Weighted-
Average
Exercise
Price
$0.08–$1.50 4,760,608 7.69 $ 1.50 2,768,093 $ 1.50
$3.00–$8.56 548,774 8.63 4.40 114,013 4.58
$10.18–$12.48 248,888 9.44 11.77 146,888 12.35
$16.83–$29.23 338,314 9.81 22.65 338,314 22.65
5,896,584 7.97 3.42 3,367,308 4.21
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