Expedia 2007 Annual Report Download - page 89

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The following table presents a summary of RSU awards from August 9, 2005 through December 31,
2007:
RSUs
Weighted
Average Grant-
Date Fair
Value
(In thousands)
Granted at Spin-Off, based on conversion of IAC awards .......... 5,848 $23.97
Granted .............................................. 497 25.28
Vested and released...................................... (144) 23.19
Cancelled ............................................. (436) 24.38
Balance as of December 31, 2005 . .......................... 5,765 24.08
Granted .............................................. 5,016 18.59
Vested and released...................................... (1,337) 23.94
Cancelled ............................................. (1,923) 23.09
Balance as of December 31, 2006 . .......................... 7,521 20.72
Granted .............................................. 3,768 22.92
Vested and released...................................... (1,538) 21.72
Cancelled ............................................. (1,489) 21.20
Balance as of December 31, 2007 . .......................... 8,262 21.43
Included in RSUs outstanding at December 31, 2007 are approximately 0.9 million RSUs to certain
senior executives, whereby future vesting is tied to achievement of performance targets. The total fair value of
shares vested and released during the years ended December 31, 2007, 2006 and 2005 was $33.4 million,
$31.9 million and $3.3 million.
We have fully vested stock warrants with expiration dates through February 2012 outstanding, certain of
which trade on the NASDAQ under the symbols “EXPEW” and “EXPEZ.” Each stock warrant is exercisable
for a certain number of shares of our common stock or a fraction thereof.
The following table presents a summary of our stock warrants (equivalent shares) from December 31,
2006 through December 31, 2007:
Expiration Date
Weighted
Average
Exercise
Price
Outstanding
Warrants at
December 31,
2006 Exercised Cancelled
Outstanding
Warrants at
December 31,
2007
(In thousands, except per warrant data)
February 2012 ................. $25.56 16,094 — — 16,094
February 2009 ................. 31.22 7,295 — — 7,295
February 2009 ................. 11.93 11,094 (7) (2) 11,085
November 2009 to May 2010...... 13.23 163 — — 163
34,646 (7) (2) 34,637
F-23
Expedia, Inc.
Notes to Consolidated Financial Statements — (Continued)