SkyWest Airlines 2009 Annual Report Download - page 88
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SKYWEST, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
DECEMBER 31, 2009
(9) Capital Transactions (Continued)
following table summarizes the stock option activity for all of the Company’s plans for the years ended
December 31, 2009, 2008 and 2007:
2009 2008 2007
Weighted
Weighted Average Aggregate Weighted Weighted
Average Remaining Intrinsic Average Average
Number of Exercise Contractual Value Number of Exercise Number of Exercise
Options Price Term ($000) Options Price Options Price
Outstanding at beginning of
year ................. 4,470,734 $20.90 4.4 years $— 4,681,915 $20.01 5,504,572 $19.36
Granted ............... 457,397 15.24 357,716 25.70 382,467 26.87
Exercised ............... (13,011) 14.64 (420,670) 14.27 (1,048,072) 18.67
Cancelled .............. (174,425) 19.66 (148,227) 23.38 (157,052) 22.51
Outstanding at end of year . . . 4,740,695 20.37 3.8 years — 4,470,734 20.90 4,681,915 20.01
Exercisable at December 31,
2009 ................ 3,652,528 20.00 3.3 years — 3,550,283 19.71
Exercisable at December 31,
2008 ................ 3,550,283 19.71 4.2 years — 2,518,685 20.35
The total intrinsic value of options to acquire shares of the Company’s common stock that were
exercised during the years ended December 31, 2009, 2008 and 2007 was $38,000, $2.4 million and
$8.7 million, respectively.
The following table summarizes the status of the Company’s non-vested stock options as of
December 31, 2009:
Weighted-Average
Number of Grant-Date
Shares Fair Value
Non-vested shares at beginning of year ............. 920,451 $7.02
Granted .................................... 457,397 4.42
Vested ..................................... (274,906) 6.80
Cancelled .................................. (14,775) 7.08
Non-vested shares at end of year .................. 1,088,167 $5.98
The following table summarizes information about the Company’s stock options outstanding at
December 31, 2009:
Options Outstanding Options Exercisable
Weighted Average
Number Remaining Weighted Average Number Weighted Average
Range of Exercise Prices Outstanding Contractual Life Exercise Price Exercisable Exercise Price
$10 to $15 ............. 754,995 4.9 years $13.43 296,294 $10.64
$16 to $21 ............. 2,139,786 4.0 years 18.10 2,134,810 18.09
$22 to $28 ............. 1,845,914 2.9 years 25.83 1,221,424 25.60
$10 to $28 ............. 4,740,695 3.8 years 20.37 3,652,528 20.00
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