CenterPoint Energy 2008 Annual Report Download - page 96

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74
The following tables summarize the Company’s LICP activity for 2008:
Stock Options
Outstanding Options
Year Ended December 31, 2008
Shares
(Thousands)
Weighted-Average
Exercise Price
Remaining Average
Contractual
Life (Years)
Aggregate
Intrinsic
Value (Millions)
Outstanding at December 31, 2007 ................................
6,770
$ 17.78
Forfeited or expired ................................
(629)
22.11
Exercised ................................................................
(285)
10.46
Outstanding at December 31, 2008 ................................
5,856
17.67
2.5
$ 12
Exercisable at December 31, 2008 ................................
5,856
17.67
2.5
12
Performance Shares
Outstanding and Non-Vested Shares
Year Ended December 31, 2008
Shares
(Thousands)
Weighted-Average
Grant Date
Fair Value
Remaining Average
Contractual
Life (Years)
Aggregate
Intrinsic
Value (Millions)
Outstanding at December 31, 2007................................
2,132
$ 14.21
Granted ................................................................
896
15.40
Forfeited or cancelled ................................
(569)
13.02
Vested and released to participants ................................
(357)
12.30
Outstanding at December 31, 2008................................
2,102
15.37
1.1
$ 17
The non-vested and outstanding shares displayed in the above tables assume that shares are issued at the
maximum performance level (150%). The aggregate intrinsic value reflects the impacts of current expectations of
achievement and stock price.
Stock Awards
Outstanding and Non-Vested Stock Awards
Year Ended December 31, 2008
Shares
(Thousands)
Weighted-Average
Grant Date
Fair Value
Remaining Average
Contractual Life
(Years)
Aggregate
Intrinsic
Value (Millions)
Outstanding at December 31, 2007 ................................
720
$ 14.45
Granted ................................................................
401
15.09
Forfeited ................................................................
(64)
14.84
Vested and released to participants ................................
(268)
12.72
Outstanding at December 31, 2008 ................................
789
15.33
1.2
$ 10
The weighted-average grant-date fair values of awards granted were as follows for 2006, 2007 and 2008:
Year Ended December 31,
2006
2007
2008
Performance shares ................................................................
$ 13.05
$ 18.20
$ 15.40
Stock awards ................................................................
12.96
18.29
15.09
The total intrinsic value of awards received by participants was as follows for 2006, 2007 and 2008:
Year Ended December 31,
2006
2007
2008
(In millions)
Options exercised ................................................................
$ 10
$ 13
$ 2
Performance shares ................................................................
10
—
6
Performance units ................................................................
—
3
—
Stock awards ................................................................
7
4
5