LeapFrog 2012 Annual Report Download - page 66

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LEAPFROG ENTERPRISES, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(In thousands, except per share data)
Stock Plan Activity
Stock Options
The activity in the Company’s stock option plan for the years ended December 31, 2012, 2011 and 2010 was
as follows:
Number of
Shares
Weighted-Average
Exercise Price
Average
Remaining
Contractual Life
in Years
Aggregate
Intrinsic
Value
Outstanding at December 31, 2009 ...... 8,003 $3.97 8.23 $ 258
Grants ......................... 763 $5.36
Exercises ....................... (583) $3.13
Retired or forfeited ................. (1,929) $3.95
Outstanding at December 31, 2010 ...... 6,254 $4.22 6.11 $ 9,870
Grants ......................... 1,939* $4.18
Exercises ....................... (944) $3.09
Retired or forfeited ................. (2,045)** $5.24
Outstanding at December 31, 2011 ....... 5,204 $4.01 7.22 $ 8,817
Grants ......................... 2,307 $8.82
Exercises ....................... (998) $3.85
Retired or forfeited ................. (365) $5.84
Outstanding at December 31, 2012 ...... 6,148 $5.74 7.42 $19,568
Vested and exercisable at
December 31, 2012 ................ 3,045 $4.25 5.89 $13,446
Vested and exercisable at
December 31, 2011 ................. 2,675 $3.93 5.64 $ 4,991
* Amount includes 850 option shares granted to the Company’s current Chief Executive Officer in
connection with his hiring as an officer and employee of the Company.
** Amount includes 264 option shares forfeited by the former Chief Executive Officer in connection with
his resignation as an officer and employee of the Company.
Stock options outstanding that are expected to vest are shown net of estimated future option forfeitures. The
price of a share of the Company’s Class A common stock was $8.63 and $5.59 as of December 31, 2012 and
2011, respectively. The total intrinsic value of options exercised in 2012, 2011 and 2010 was $5,608, $1,186
and $1,677, respectively. As of December 31, 2012, unrecognized compensation cost related to stock options
granted under the plans totaled $11,556. The unrecognized compensation cost is expected to be recognized
over a weighted-average period of 2.82 years.
These options will expire if not exercised by specific dates through December 2022. During the year ended
December 31, 2012, 17 stock options expired and were cancelled.
58