Expedia 2009 Annual Report Download - page 97

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Expedia, Inc.
Notes to Consolidated Financial Statements — (Continued)
The following table presents a summary of our stock options outstanding and exercisable at December 31,
2009:
Options Outstanding Options Exercisable
Range of Exercise Prices Shares
Weighted-
Average
Price Per Share
Remaining
Contractual
Life Shares
Weighted-
Average
Exercise Price
(In thousands) (In years) (In thousands)
$ 0.01 - $5.00 160 $ 4.09 3.0 160 $ 4.09
5.01 - 8.00 9,069 7.38 6.3 66 7.41
8.01 - 12.00 1,622 9.12 6.7 160 9.59
12.01 - 18.00 854 14.98 3.0 668 14.90
18.01 - 25.00 2,074 19.68 1.1 1,970 20.55
25.01 - 35.00 2,728 28.39 5.1 328 27.66
35.01 - 45.00 1,481 38.43 5.2 81 39.72
45.01 - 97.00 13 60.50 0.1 13 60.50
0.01 - 97.00 18,001 15.17 5.3 3,446 19.21
RSUs, which are stock awards that are granted to employees entitling the holder to shares of our common
stock as the award vests, were our primary form of stock-based award prior to 2009. We record RSUs that will
settle in cash as a liability and we remeasure them to fair value at the end of each reporting period. These awards
that settle in cash and the resulting liability are insignificant. Our RSUs generally vest over five years, but may
accelerate in certain circumstances, including certain changes in control.
The following table presents a summary of RSU activity:
RSU’s
Weighted Average
Grant-Date
Fair Value
(In thousands)
Balance as of January 1, 2007 .............................. 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
Granted ................................................ 4,123 21.78
Vested and released ...................................... (1,846) 21.76
Cancelled .............................................. (1,493) 22.20
Balance as of December 31, 2008 ........................... 9,046 21.41
Granted ................................................ 988 9.10
Vested and released ...................................... (2,362) 21.69
Cancelled .............................................. (1,107) 21.01
Balance as of December 31, 2009 ........................... 6,565 19.50
The total fair value of shares vested and released during the years ended December 31, 2009, 2008 and 2007
was $27 million, $42 million and $37 million. Included in RSUs outstanding at December 31, 2009 are 800,000
of RSUs awarded to our Chief Executive Officer, for which vesting is tied to achievement of performance
targets.
In 2009, 2008 and 2007, we recognized total stock-based compensation expense of $62 million, $61 million
and $63 million. The total income tax benefit related to stock-based compensation expense was $20 million,
$21 million and $22 million for 2009, 2008 and 2007.
F-25