Cincinnati Bell 2009 Annual Report Download - page 158

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As of December 31, 2009, unrecognized compensation expense related to these shares was $0.6 million,
which is expected to be recognized over a weighted average period of two years.
Stock Option and Stock Appreciation Right Awards
Generally, these awards have ten-year terms and vesting terms of three years.
The following table provides a summary of the Company’s outstanding awards:
2009 2008 2007
(in thousands, except per share amounts) Shares
Weighted-
Average
Exercise
Prices Per
Share Shares
Weighted-
Average
Exercise
Prices Per
Share Shares
Weighted-
Average
Exercise
Prices Per
Share
Outstanding at January 1, ................. 22,770 $ 9.34 20,625 $10.76 21,153 $10.89
Granted ............................... 1,918 1.47 3,699 2.20 1,135 4.92
Exercised .............................. (4) 1.75 (85) 3.86 (632) 3.96
Forfeited ............................... (248) 1.87 — — (178) 4.50
Expired ................................ (4,264) 16.57 (1,469) 11.58 (853) 12.74
Outstanding at December 31, .............. 20,172 $ 7.15 22,770 $ 9.34 20,625 $10.76
Expected to vest at December 31, ........... 20,079 $ 7.18 22,597 $ 9.40 20,625 $10.76
Exercisable at December 31, ............... 15,250 $ 8.76 17,999 $11.07 18,881 $11.31
(dollars in millions)
Compensation expense for the year .......... $ 3.7 $ 1.8 $ 0.9
Tax benefit related to compensation expense . . $ (1.4) $ (0.7) $ (0.4)
Intrinsic value of awards exercised .......... $ — $ — $ 1.0
Grant date fair value of awards vested ....... $ 1.6 $ 1.1 $ 0.7
88