Health Net 2014 Annual Report Download - page 151
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HEALTH NET, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
F-41
During the years ended December 31, 2014, 2013 and 2012, we made no grants of stock options. The following
table provides the total intrinsic value of options exercised during the years ended December 31:
2014 2013 2012
Total intrinsic value of options exercised.................... $ 18,608,206 $ 3,138,634 $ 7,418,459
A summary of option activity under our various plans as of December 31, 2014, and changes during the year then
ended is presented below:
Number of
Options
Weighted
Average
Exercise Price
Weighted Average
Remaining
Contractual Term
(Years) Aggregate
Intrinsic Value
Outstanding at January 1, 2014 ................... 3,313,356 $31.33
Granted ........................................................ — —
Exercised ..................................................... (1,320,086) 28.52
Forfeited or expired..................................... (41,059) 42.01
Outstanding at December 31, 2014 ............. 1,952,211 $33.01 2.02 $ 40,278,961
Vested or expected to vest at December 31,
2014 (reflecting estimated forfeiture
rates effective in 2014) ........................... 1,952,045 $33.01 2.02 $ 40,275,247
Exercisable at December 31, 2014.............. 1,944,500 $33.01 2.01 $ 40,109,115
Options Outstanding Options Exercisable
Range of
Exercise Prices
Number of
Options
Weighted Average
Remaining
Contractual Life
(Years)
Weighted Average
Exercise Price
Number of
Options
Weighted Average
Exercise Price
$15.30 – 20.00......... 139,100 1.51 $15.41 139,100 $15.41
20.01 – 25.00......... 555,738 2.18 23.09 555,738 23.09
25.01 – 30.00......... 136,892 2.88 28.14 135,955 28.14
30.01 – 40.00......... 519,783 2.26 31.96 513,009 31.96
40.01 – 50.00......... 479,685 1.37 46.58 479,685 46.58
50.01 – 58.07......... 121,013 2.40 54.95 121,013 54.95
$15.30 – 58.07......... 1,952,211 2.02 $33.01 1,944,500 $33.01
We have entered into stock option and RSU agreements with certain employees and non-employee directors and
PSU agreements with certain employees. Upon vesting and exercise of each stock option and upon vesting of each RSU
and PSU, holders will have the right to receive one share of common stock. Awards of stock options, RSUs and PSUs
are subject to restrictions on transfer and forfeiture prior to vesting. The following table presents the number of stock
options, RSUs and PSUs granted during the years ended December 31:
2014 2013 2012
Options granted................................................ ———
RSUs and PSUs granted .................................. 881,338 1,143,881 1,084,532