iHeartMedia 2002 Annual Report Download - page 97
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(In thousands, except per share data)
89
Wei
g
hted Avera
g
e
Exercise Price Per
O
p
tions Share
Options outstanding at January 1, 2000 8,050 $32.00
Options assumed in acquisitions 31,075 40.00
Options granted 3,540 62.00
Options exercised (1) (1,915) 21.00
Options forfeite
d
(638)55.00
Options outstanding at December 31, 2000 40,112 $41.00
Weighted average fair value of options granted during 2000 $29.00
Options outstanding at January 1, 2001 40,112 $41.00
Options granted 11,389 51.00
Options exercised (1) (2,928) 25.00
Options forfeite
d
(1,426)58.00
Options outstanding at December 31, 2001 47,147 $44.00
Weighted average fair value of options granted during 2001 $25.00
Options outstanding at January 1, 2002 47,147 $44.00
Options assumed in acquisitions 114 52.00
Options granted 262 35.00
Options exercised (1) (2,508)21.00
Options forfeite
d
(2,072) 57.00
Options outstanding at December 31, 2002 (2) 42,943 $45.00
Weighted average fair value of options granted during 2002 $ 16.00
(1) The Company received an income tax benefit of $22.5 million, $32.8 million and $30.6 million relating to the options exercised during
2002, 2001 and 2000, respectively. Such benefits are recorded as adjustments to “Additional paid-in capital”in the statement of
shareholders’equity.
(2) Of the 42.9 million options outstanding at December 31, 2002, 29.6 million were exercisable at a weighted average exercise price of
$40.54. There were 47.5 million shares available for future grants under the various option plans at December 31, 2002. Vesting dates
range from February 2003 to October 2007, and expiration dates range from February 2003 to October 2012 at exercise prices and
average contractual lives as follows: