US Airways 2009 Annual Report Download - page 145
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Table of Contents
Weighted
Average
Stock Weighted Remaining
Options Average Contractual Term Aggregate
and SARs Exercise Price (years) Intrinsic Value
(In millions)
Balance at December 31, 2007 3,370 $ 34.96
Granted 1,959 9.11
Exercised (5) 8.84
Forfeited (200) 30.18
Expired (218) 32.76
Balance at December 31, 2008 4,906 $ 24.93
Granted — —
Exercised — —
Forfeited (119) 20.43
Expired (266) 30.82
Balance at December 31, 2009 4,521 $ 24.67 7.00 $ —
Vested or expected to vest at December 31, 2009 4,429 $ 24.87 6.98 $ —
Exercisable at December 31, 2009 3,184 $ 28.69 6.54 $ —
2008 Equity Incentive Plan
Balance at December 31, 2007 — $ —
Granted 2,389 6.64
Exercised — —
Forfeited (56) 6.70
Expired — —
Balance at December 31, 2008 2,333 $ 6.64
Granted 3,286 3.23
Exercised — —
Forfeited (193) 6.67
Expired (8) 6.70
Balance at December 31, 2009 5,418 $ 4.57 6.03 $ 5.6
Vested or expected to vest at December 31, 2009 5,095 $ 4.59 6.02 $ 5.2
Exercisable at December 31, 2009 717 $ 6.65 5.63 $ —
CSARs activity for the year ending December 31, 2009 is as follows (CSARs in thousands):
Weighted
Average
Weighted Remaining
Average Contractual Term Aggregate
CSARs Exercise Price (years) Intrinsic Value
(In millions)
2008 Equity Incentive Plan
Balance at December 31, 2008 — $ —
Granted 4,645 3.10
Exercised — —
Forfeited (232) 3.10
Expired — —
Balance at December 31, 2009 4,413 $ 3.10 6.27 $ 7.7
Vested or expected to vest at December 31, 2009 4,110 $ 3.10 6.27 $ 7.2
Exercisable at December 31, 2009 3 $ 5.23 5.87 $ —
The fair value of stock options and stock appreciation rights is determined at the grant date using a Black-Scholes option pricing
model, which requires several assumptions. The risk-free interest rate is based on the U.S. Treasury yield curve in effect for the expected
term of the award at the time of grant. The dividend yield is assumed to be zero as US Airways Group does not pay dividends and has no
current plans to do so in the future. The volatility is based 143