Memorex 2012 Annual Report Download - page 73

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following table summarizes our stock option activity:
Stock
Options
Weighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual
Life (Years)
Aggregate
Intrinsic
Value
(millions)
Outstanding December 31, 2009 .................. 4,594,838 $27.19 6.2 $0.1
Granted .................................. 889,089 10.46
Exercised ................................. (1,000) 8.11
Canceled ................................. (421,146) 31.19
Forfeited .................................. (145,693) 17.97
Outstanding December 31, 2010 .................. 4,916,088 $24.10 5.6 $0.7
Granted .................................. 1,401,163 9.41
Exercised ................................. (45,429) 10.13
Canceled ................................. (475,703) 35.11
Forfeited .................................. (116,540) 14.34
Outstanding December 31, 2011 .................. 5,679,579 $19.87 6.0 $ —
Granted .................................. 1,178,780 5.80
Exercised ................................. — —
Canceled ................................. (752,415) 26.61
Forfeited .................................. (287,472) 9.24
Outstanding December 31, 2012 .................. 5,818,472 $16.57 5.9 $ —
No performance-based options were granted during the years ended December 31, 2012 or 2011. Of the options
granted during the year ended December 31, 2010, 105,397 were performance-based options that vest based on the
Company’s performance against operating income targets for 2010. Our 2010 performance exceeded these operating income
targets and, accordingly, these options will vest 25 percent per year over four years from the date of grant.
The aggregate intrinsic value of all outstanding stock options was less than $0.1 million, $0.0 million and $0.7 million as
of December 31, 2012, 2011 and 2010, respectively. The intrinsic value of options exercised during 2011 and 2010 was less
than $0.1 million each year. The weighted average grant date fair value of options granted during the years 2012, 2011 and
2010 was $2.53, $4.15 and $4.46, respectively.
The following table summarizes exercisable options and options expected to vest as of December 31, 2012:
Exercisable Options Options Expected to Vest
Range of Exercise Prices
Stock
Options
Weighted
Average
Remaining
Contractual
Life (Years)
Weighted
Average
Exercise
Price
Stock
Options
Weighted
Average
Remaining
Contractual
Life (Years)
Weighted
Average
Exercise
Price
$4.26 to $6.16 ........................ — — $ — 900,302 9.4 $5.76
$6.17 to $14.15 ....................... 1,578,296 6.0 9.76 1,117,314 8.0 9.43
$14.16 to $19.20 ...................... — — — — — —
$19.21 to $23.95 ...................... 13,000 5.6 20.62 — — —
$23.96 to $28.70 ...................... 749,952 3.8 24.43 — — —
$28.71 to $39.38 ...................... 863,713 2.0 35.33 — — —
$39.39 to $41.75 ...................... 310,965 2.2 41.34 — — —
$41.76 to $46.97 ...................... 33,000 0.6 44.34 — — —
$4.26 to $46.97 ..................... 3,548,926 4.2 $22.21 2,017,616 8.6 $7.79
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