Memorex 2007 Annual Report Download - page 102

Download and view the complete annual report

Please find page 102 of the 2007 Memorex annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 129

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129

The following table summarizes stock option activity for the years ended December 31, 2007 and 2006:
Stock
Options
Weighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual
Life (Years)
Aggregate
Intrinsic Value
Outstanding December 31, 2005 . . . . . . . . . . . . . . 4,115,633 $30.82
Granted. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 662,070 41.76
Exercised . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,204,781) 26.20
Canceled. . . . . . . . . . . . . . . . . . . . . . . . . . . . . (57,004) 24.49
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (136,939) 36.93
Outstanding December 31, 2006 . . . . . . . . . . . . . . 3,378,979 34.48 6.1 $40,385,150
Granted. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 606,312 37.54
Exercised . . . . . . . . . . . . . . . . . . . . . . . . . . . . (293,954) 26.24
Canceled. . . . . . . . . . . . . . . . . . . . . . . . . . . . . (80,385) 33.08
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (461,191) 39.34
Outstanding December 31, 2007* . . . . . . . . . . . . . . 3,149,761 $35.16 6.0 $ —
Exercisable as of December 31, 2007* . . . . . . . . . . 1,907,954 $33.23 4.6 $ —
* The aggregate intrinsic value at December 31, 2007 was not meaningful as our stock price of $21.00 on December 31,
2007 was below the majority of the outstanding stock options’ exercise price.
The following table summarizes outstanding and exercisable options as of December 31, 2007:
Range of Exercise
Prices
Stock
Options
Weighted
Average
Remaining
Contractual
Life (Years)
Weighted
Average
Exercise
Price
Stock
Options
Weighted
Average
Exercise
Price
Outstanding Options
Exercisable Options
$14.15 to $19.20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108,459 1.1 $17.66 108,459 $17.66
$19.56 to $23.95. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203,497 3.4 23.22 203,497 23.22
$24.10 to $28.70. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,370 2.4 25.15 1,370 25.15
$28.75 to $39.38. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,885,640 6.6 34.52 1,054,505 32.99
$39.45 to $41.75. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 905,895 6.0 40.83 526,723 40.54
$41.76 to $46.97. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44,900 8.4 44.27 13,400 43.99
$14.15 to $46.97 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,149,761 6.0 $35.16 1,907,954 $33.23
73
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)