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GREEN DOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (CONTINUED)
Note 15—Earnings per Common Share (continued)
81
Year Ended December 31, Five Months Ended
December 31, 2009
Year Ended
July 31, 2009
2011 2010
(In thousands)
Class A common stock
Options to purchase Class A common stock. . . . . . . 258 22 — —
Restricted stock units . . . . . . . . . . . . . . . . . . . . . . . . ————
Conversion of convertible preferred stock. . . . . . . . . 451 —
Total options and restricted stock units. . . . . . . . . . . 709 22 — —
Class B common stock
Options to purchase Class B common stock . . . . . . 511 223 97
Conversion of convertible preferred stock. . . . . . . . . —13,803 24,942 25,674
Total options and convertible preferred stock . . . . . . 513,814 25,165 25,771
Note 16—401(k) Plan
On January 1, 2004, we established a defined contribution savings plan under Section 401(k) of the Internal
Revenue Code. Employees who have attained at least 21 years of age are generally eligible to participate in the plan
on the first day of the calendar month following the month in which they commence service with us. Participants may
make pre-tax contributions to the plan from their eligible earnings up to the statutorily prescribed annual limit on pre-
tax contributions under the code. We may contribute to the plan at the discretion of our board of directors. Effective
January 1, 2010, our board elected to include a discretionary employer matching contribution equal to 50% of the first
6% of the participant’s eligible compensation as defined by the Plan. Our contributions are allocated in the same
manner as that of the participant’s elective contributions. We made contributions to the plan of $944,000 and $686,000
for the years ended December 31, 2011 and 2010, $0 for the five months ended December 31, 2009 and $58,000 for
the year ended July 31, 2009.
Note 17—Commitments and Contingencies
We currently lease approximately 84,000 square feet in Monrovia, California for our corporate headquarters,
pursuant to lease agreements for approximately 75,000 square feet that expire in September 2012 and 4,000 square
feet that expire in December 2012 and a sub-lease agreement of approximately 5,000 square feet that expires in
December 2013. We also maintain smaller administrative or project offices. Our total rental expense for these leases
amounted to $2.6 million and $1.8 million for the years ended December 31, 2011 and 2010, $0.6 million for the five
months ended December 31, 2009, and $1.4 million for the year ended July 31, 2009.
On December 6, 2011, we entered into a ten-year office lease pursuant to which we will lease a new headquarters
facility, consisting of 140,000 square feet of office space in Pasadena, California. The initial term of the lease is ten
years and is scheduled to commence November 1, 2012 and expire on October 31, 2022. We will relocate our employees
to this new office space prior to the expiration of the lease on our current headquarters. We did not take possession
of or control the physical use of this property during 2011, and accordingly, we did not recognize any rent expense
associated with this lease agreement.
At December 31, 2011, the minimum aggregate rental commitment under all operating leases was:
Year Ending December 31, (in thousands)
2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,169
2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,943
2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,537
2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,963
Thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,367
$43,979