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GREEN DOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)
Note 14—Stock-Based Compensation (continued)
78
The following table summarizes information with respect to stock options outstanding and exercisable at December
31, 2011:
Options Outstanding Options Currently Exercisable
Exercise Price
Number
Outstanding
Weighted-
Average
Remaining
Contractual
Life (in Years)
Weighted-
Average
Exercise Price
Number
Outstanding
Weighted-
Average
Remaining
Contractual
Life (in Years)
Weighted-
Average
Exercise Price
0.83-1.41 . . . . . 364,599 2.64 $ 1.17 364,599 2.64 $ 1.17
1.55-4.00 . . . . . 542,710 2.46 1.58 542,710 2.46 1.58
4.64-10.75 . . . . 1,474,366 6.31 6.16 1,363,809 6.26 5.79
10.84-17.19 . . . 136,140 7.51 15.83 63,709 7.50 15.85
20.01-31.61 . . . 1,422,169 8.09 21.69 628,652 7.89 20.37
31.63-55.52 . . . 815,684 9.23 38.91 71,992 7.78 36.02
4,755,668 3,035,471
Tax benefits realized from the exercise of stock options were $3.0 million and $24.8 million for the years ended
December 31, 2011 and 2010, respectively, $1.9 million for the five months ended December 31, 2009 and $0 for the
year ended July 31, 2009. Cash proceeds from the exercise of stock options were $3.2 million and $5.6 million for the
years ended December 31, 2011 and 2010, respectively, $0.9 million for the five months ended December 31, 2009
and $0.1 million for the year ended July 31, 2009. The aggregate unrecognized compensation cost for unvested stock
options and RSU awards expected to be recognized in compensation expense in future periods was $19.0 million and
$3.4 million at December 31, 2011, respectively, and the related weighted-average period over which the compensation
expense is expected to be recognized was estimated at 2.8 years and 0.8 years, respectively.
Stock-Based Retailer Incentive Compensation
As discussed in Note 13 — Stockholders’ Equity, we issued Walmart 2,208,552 shares of our Class A common
stock. We recognize the fair value of 36,810 shares each month over the 60-month term of the commercial agreement.
An early expiration of our right to repurchase as described above would, however, result in the recognition of the fair
value of all the shares still subject to repurchase on the date of the expiration. We currently assess an early expiration
of our repurchase right to be remote. We record the fair value recognized as stock-based retailer incentive compensation,
a contra-revenue component of our total operating revenues. We recognize monthly the fair value of the shares for
which our right to repurchase has lapsed using the then-current fair market value of our Class A common stock. We
recognized $17.3 million and $13.4 million of stock-based retailer incentive compensation for the years ended
December 31, 2011 and 2010, respectively.
Note 15— Earnings per Common Share
We calculate EPS using the two-class method. Refer to Note 2 — Summary of Significant Accounting Policies for
a discussion of the calculation of EPS. The calculation of basic EPS and diluted EPS was as follows: