Invacare 2008 Annual Report Download - page 93

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INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Shareholders’ Equity Transactions—Continued
to acquire, or commences a tender offer to acquire, shares representing 30% or more of the company’s
outstanding voting power, subject to deferral by the Board of Directors. After the Rights become exercisable,
under certain circumstances, the Rights may be exercisable to purchase Common Shares of the company, or
common shares of an acquiring company, at a price equal to the exercise price of the Right divided by 50% of the
then current market price per Common Share or acquiring company common share, as the case may be. The
Rights will expire on July 18, 2015 unless previously redeemed or exchanged by the company. The company
may redeem and terminate the Rights in whole, but not in part, at a price of $0.001 per Right at any time prior to
10 days following a public announcement that an Acquiring Party has acquired beneficial ownership of shares
representing 30% or more of the company’s outstanding voting power, and in certain other circumstances
described in the Rights Agreement.
Capital Stock
Capital stock activity for 2008, 2007 and 2006 consisted of the following (in thousands of shares):
Common Stock
Shares
Class B
Shares
Treasury
Shares
January 1, 2006 Balance ........................................... 31,695 1,112 (1,058)
Exercise of stock options ....................................... 240 — (128)
Stock awards ................................................ 116 — —
December 31, 2006 Balance ........................................ 32,051 1,112 (1,186)
Exercise of stock options ....................................... 2 — —
Stock awards ................................................ 73 — (14)
December 31, 2007 Balance ........................................ 32,126 1,112 (1,200)
Conversion of Class B to Common ............................... 1 (1) —
Exercise of stock options ....................................... 242 — (204)
Stock awards ................................................ 80 — (20)
December 31, 2008 Balance ........................................ 32,449 1,111 (1,424)
Stock awards for 8,000 shares were cancelled in 2007. Stock option exercises in 2006 include deferred share
activity, which increased common shares by 9,000 shares and treasury shares by 4,000 shares.
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