Avis 2007 Annual Report Download - page 37

Table of Contents
Securities Authorized For Issuance Under Equity Compensation Plans
The following table provides information about shares of our common stock that may be issued upon the exercise of options and restricted
stock units under all of our existing equity compensation plans as of December 31, 2007. The table excludes 850,000 shares of our common
stock approved by stockholders issued or available for issuance pursuant to the 1998 Employee Stock Purchase Plan.
Of the 8.9 million shares of our common stock to be issued upon exercise of outstanding options, stock settled stock appreciation rights and
restricted stock units, approximately 6.0 million shares are related to stock option grants that were made by Cendant Corporation to employees
of Cendant Corporation prior to the spin-offs of Realogy and Wyndham, virtually all of which have strike prices in excess of our closing stock
price of $13.00 on December 31, 2007.
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Plan Category
Number of Securities
to be Issued Upon
Exercise of
Outstanding Options,
Warrants, Rights
and Restricted
Stock Units (d)
Weighted
-
Average
Exercise Price of
Outstanding Options,
Warrants and Rights
(Excludes Restricted
Stock Units) ($) (d)
Number of Securities
Remaining Available
for Future Issuance
Under Equity
Compensation Plans
(Excluding
Securities
Reflected in First
Column)
Equity compensation plans
approved by Company
stockholders
(a)
4,264,416
$26.19
7,966,924
Equity compensation plans not
approved by Company
stockholders
(b)(e)
4,568,450
$24.03
0
Equity compensation plans
assumed in mergers,
acquisitions and corporate
transactions
(c)
41,340
$23.04
0
Total
8,874,206
$25.08
7,966,924
(a) The number of securities to be issued includes options and other awards granted under the following plans: 2007 Equity and Incentive
Plan; 1997 Stock Incentive Plan; 1997 Stock Option Plan; 1987 Stock Option Plan and the Directors Deferred Compensation Plan. Each
plan other than the 2007 Equity and Incentive Plan was approved by stockholders with respect to an initial allocation of shares. The
number of securities remaining available for future issuance under equity compensation plans represents solely shares available for
issuance under the 2007 Equity and Incentive Plan.
(b) Includes options and other awards granted under the following plans: 1999 Broad-Based Employee Stock Option Plan; 1997 Employee
Stock Plan; 1992 Employee Stock Option Plan; 1992 Bonus and Salary Replacement Stock Option Plan; and stand-alone option grants to
former officers. The material terms of these plans are set forth under footnote (e) below. Notwithstanding the terms of these plans to the
contrary, no option granted under any of these plans provides for a term in excess of 10 years or an exercise price below fair market value
as of the date of grant (other than options assumed or replaced in connection with acquisitions). All options granted under these plans have
been approved by the Board of Directors or the Compensation Committee of the Board of Directors.
(c) Includes options granted under the following plans: Galileo International, Inc. 1999 Equity and Performance Incentive Plan; Galileo
International Inc. 1997 Stock Incentive Plan, Trendwest Resorts, Inc. 1997 Employee Stock Option Plan, Fairfield Communities Inc. 2000
Incentive Stock Plan, CT 1999 Stock Incentive Plan, Avis Group Holdings Inc. 1997 Stock Option Plan, and the Avis Group Holdings Inc.
2000 Compensation Plan.
(d) Reflects an equitable adjustment of stock options and restricted stock units in connection with the spin-off of PHH Corporation to our
stockholders during 2005 and the distributions of Realogy and Wyndham in 2006. Also reflects the one-for-ten reverse stock split
completed in September 2006.
(e)
Following are the material terms of plans not submitted for stockholder approval:
1999 Broad-Based Employee Stock Option Plan . This plan provides for the grant of stock options, shares of Common Stock and other
awards valued by reference to Common Stock to our employees who are not executive officers. Shares issued pursuant to the exercise of
options granted under this plan may be authorized and unissued shares or treasury shares. In the event of any change in corporate
capitalization, any reorganization of our company or a similar event,