Overstock.com 2012 Annual Report Download - page 118
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Table of Contents
The following is a summary of stock option activity (in thousands):
The following table summarizes information about stock options as of December 31, 2012 (in thousands, except per share data):
Stock options vest over four years at 28% at the end of the first year and 2% each month thereafter. During the years ended December 31, 2012,
2011 and 2010, we recorded stock based compensation related to stock options of $3,000, $200,000 and $1.6 million, respectively.
Total unrecognized compensation costs related to nonvested stock option awards was approximately zero, $3,000 and $239,000 as of
December 31, 2012, 2011 and 2010, respectively.
The aggregate intrinsic value in the table above represents the total pretax intrinsic value, based on our stock price of $14.31 as of December 31,
2012, which would have been received by the option holders had all option holders exercised their options as of that date.
The total intrinsic value of options exercised during the years ended December 31, 2012, 2011 and 2010 was zero, zero, and $381,000,
respectively. The total cash received from employees as a result of employee stock option exercises during the years ended December 31, 2012, 2011
and 2010 were approximately zero, zero, and $1.5 million, respectively. In connection with these exercises, there was no tax benefit realized due to our
net operating loss position.
For the years ended December 31, 2012, 2011 and 2010, we granted 795,000, 268,000 and 302,000 restricted stock units, respectively. The cost
of restricted stock units is determined using the fair value of our common stock on the date of the grant and compensation expense is recognized
straight-line over the three year vesting schedule. The weighted average grant date fair value of restricted stock units granted during the years ended
December 31, 2012, 2011 and 2010 was $6.75, $15.47 and $13.17, respectively.
F-31
Outstanding—beginning of year 405 $ 17.58 496 $ 18.09 721 $ 20.29
Granted at fair value — — — — — —
Exercised — — — — (90) 17.05
Expired/Forfeited (41) 20.06 (91) 20.55 (135) 30.41
Outstanding—end of year 364 $ 17.34 405 $ 17.58 496 $ 18.09
Options exercisable at year-end 364 $ 17.34 404 $ 17.59 472 $ 18.08
364 $ 17.34 4.16 $ 13 364 $ 17.34 4.16 $ 13