Stamps.com 2001 Annual Report Download - page 65

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STAMPS.COM INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
The following tables summarize information concerning outstanding and exercisable options at December 31, 2001 (in thousands, except
number of years and per share amounts):
Options Outstanding Options Exercisable
-------------------------------------- --------------------------
Weighted
Average
Remaining Weighted Weighted
Contractual Average Average
Number Life Exercise Price Number Exercise Price
Range of Exercise Prices Outstanding (in Years) per Share Exercisable per Share
------------------------ ----------- ----------- -------------- ----------- --------------
$0.05-$2.99........ 1,651 8.0 $ 2.10 1,031 $ 1.90
$3.00-$5.60........ 515 7.6 $ 3.82 497 $ 3.79
$5.61-$39.50....... 937 7.5 $17.62 610 $20.33
$39.51-$81.00...... 49 5.7 $52.05 49 $51.96
----- --- ------ ----- ------
$0.05-$81.00....... 3,152 7.8 $ 7.76 2,187 $ 8.59
===== === ====== ===== ======
Stock-Based Compensation
The Company has adopted the provisions of SFAS No. 123 ("SFAS 123"), "Accounting for Stock-Based Compensation." In accordance with
the provisions of SFAS No. 123, the Company has elected the disclosure of only provisions related to employee stock options and follows the
provisions of Accounting Principals Board Opinion (APB) No. 25 in accounting for stock options issued to employees. Under APB No. 25,
compensation expense, if any, is recognized as the difference between the exercise price and the fair value of the common stock on the
measurement date, which is typically the date of grant, and is recognized over the service period, which is typically the vesting period.
SFAS No. 123 pro forma numbers are as follows for December 31 (in thousands, except per share amounts):
2001 2000 1999
--------- --------- --------
Net income--as reported........................ $(209,573) $(212,949)
$(56,487)
Net income--pro forma.......................... $(223,083) $(215,401)
$(58,542)
Basic and diluted net income per common share--
as reported.................................. $ (4.14) $ (4.54) $
(2.59)
Basic and diluted net income per common share--
pro forma.................................... $ (4.40) $ (4.59) $
(2.68)
Under SFAS No. 123, the fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the
following weighted average assumptions:
2002. EDGAR Online, Inc.