Earthlink 2011 Annual Report Download - page 116

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Table of Contents
EARTHLINK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
In connection with the acquisition of ITC^DeltaCom, the Company assumed certain restricted stock units granted under ITC^DeltaCom's
stock plans. These restricted stock units generally retained all of the rights, terms and conditions of the respective plans under which they were
originally granted. As of December 31, 2011, 0.3 million restricted stock units were outstanding under these plans.
Options Outstanding
The following table summarizes information concerning stock option activity as of and for year ended December 31, 2011:
The Company did not grant any stock options during the years ended December 31, 2009, 2010 and 2011. The aggregate intrinsic value
amounts in the table above represent the closing price of the Company's common stock on December 31, 2011 in excess of the exercise price,
multiplied by the number of stock options outstanding or exercisable, when the closing price is greater than the exercise price. This represents
the amount that would have been received by the stock option holders if they had all exercised their stock options on December 31, 2011. The
total intrinsic value of options exercised during the years ended December 31, 2009, 2010 and 2011 was $2.5 million, $1.0 million and
$0.1 million, respectively. The intrinsic value of stock options exercised represents the difference between the market value of Company's
common stock at the time of exercise and the exercise price, multiplied by the number of stock options exercised.
109
Stock
Options
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term (Years)
Aggregate
Intrinsic
Value
(shares and dollars in thousands)
Outstanding as of December 31, 2010
2,436
9.41
Granted
—
—
Exercised
(87
)
6.90
Forfeited and expired
(474
)
11.55
Outstanding as of December 31, 2011
1,875
8.97
3.4
40
Vested and expected to vest as of December 31,
2011
1,867
8.98
3.4
40
Exercisable as of December 31, 2011
1,867
8.98
3.4
40