8x8 2011 Annual Report Download - page 62

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Option activity under the Company's stock option plans since March 31, 2008, is summarized as follows:
Weighted
Shares Average
Shares Subject to Exercise
Available Options Price
for Grant Outstanding Per Share
Balance at March 31, 2008 3,935,125 10,301,064 $ 2.00
Granted - Options (1,855,500) 1,855,500 0.84
Stock purchase rights (100,000) - 0.57
Exercised - (89,300) 0.37
Canceled/Forfeited 1,330,985 (1,330,985) 1.72
Termination of plans (894,735) -
Balance at March 31, 2009 2,415,875 10,736,279 1.85
Stock purchase rights (331,464) - 0.74
Exercised - (195,500) 0.73
Canceled/Forfeited 1,273,376 (1,273,376) 1.68
Termination of plans (488,376) -
Balance at March 31, 2010 2,869,411 9,267,403 1.90
Granted - Options (502,000) 502,000 2.69
Stock purchase rights (836,432) - 1.72
Exercised - (1,204,776) 1.48
Canceled/Forfeited 1,595,431 (1,595,431) 3.92
Termination of plans (1,572,431) -
Balance at March 31, 2011 1,553,979 6,969,196
$
1.56
Significant option groups outstanding at March 31, 2011 and related weighted average exercise price and contractual life
information for 8x8, Inc.'s stock option plans are as follows:
Weighted Weighted Weighted
Average Average Average
Exercise Remaining Aggregate Exercise Aggregate
Price Contractual Intrinsic Price Intrinsic
Shares Per Share Life (Years) Value Shares Per Share Value
$ 0.55 to $ 1.15 1,500,825 $ 0.87 6.9 $ 2,909,644 1,500,825 $ 0.87 $ 2,909,644
$ 1.16 to $ 1.26 1,440,878 $ 1.24 5.4 2,255,776 1,440,878 $ 1.24 2,255,776
$ 1.27 to $ 1.54 1,517,000 $ 1.39 4.7 2,151,695 1,517,000 $ 1.39 2,151,695
$ 1.55 to $ 1.79 1,420,543 $ 1.73 4.0 1,538,863 1,420,543 $ 1.73 1,538,863
$ 1.80 to $ 4.68 1,089,950 $ 2.96 6.5 161,320 587,950 $ 3.20 98,360
6,969,196 $ 9,017,298 6,467,196 $ 8,954,338
Options Outstanding Options Exercisable
The Company recognized stock compensation expense in fiscal 2011, 2010 and 2009 of $458,000, $204,000 and $3,295,000,
respectively.
The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the aggregate difference between the
closing stock price of the Company’ s common stock on March 31, 2011 and the exercise price for in-the-money options) that
would have been received by the option holders if all in-the-money options had been exercised on March 31, 2011.
The total intrinsic value of options exercised in the years ended March 31, 2011, 2010 and 2009 was $1,422,000, $70,000 and
$49,000, respectively. As of March 31, 2011, there was $2,095,000 of unamortized stock-based compensation expense related
to unvested stock options and awards which is expected to be recognized over a weighted average period of 3.78 years.
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