Nautilus 2013 Annual Report Download - page 54

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three or four years of continuous service, commencing on the date of grant. Stock options granted under the 2005 Plan have a seven -
year
contractual term. Stock options granted under the preceding plan expire after ten years.
Upon adoption, there were approximately 4.0 million
shares available for issuance under the 2005 Plan. The number of shares available for
issuance is increased by any shares of common stock which were previously reserved for issuance under our preceding stock option plan, and
were not subject to grant on June 6, 2005, or as to which the stock-
based compensation award is forfeited on or after June 6, 2005. The number
of shares available for issuance is reduced by (i) two
shares for each share delivered in settlement of any stock appreciation rights, for each
share of restricted stock, and for each stock unit or performance unit award, and (ii) one
share for each share delivered in settlement of a stock
option award. In no event shall more than 1.0 million
aggregate shares of common stock subject to stock options, stock appreciation rights,
restricted stock or performance stock unit awards be granted to any one participant in any one year under the 2005 Plan. At December 31, 2013,
we had 3.8 million shares available for future grant under our 2005 Plan and we had 5.1 million
shares of our common stock reserved for future
issuance pursuant to the 2005 Plan and our previous plan.
Stock Option Activity
Stock option activity was as follows (shares in thousands):
Certain information regarding options outstanding at December 31, 2013 was as follows:
RSU Activity
Following is a summary of RSU activity (shares in thousands):
PSU Activity
In April 2010, we granted PSU awards covering a total of 146,000
shares of our common stock to key members of our executive team. The
PSUs were subject to both time-based vesting (one-third annually over three years
) and achievement of a stock price target of two times the
grant date price. If, over the three-
year period, the stock price did not close at or above two times the grant date price over any 20 of 30
consecutive days, the entire award would have been forfeited. Compensation expense for PSUs is recognized over the estimated requisite service
period based on the number of PSUs ultimately expected to vest. These awards vested in full over the three-year vesting period.
47
Options
Outstanding
Weighted-
Average
Exercise
Price
Outstanding at December 31, 2012
1,184
$
6.92
Granted
79
6.46
Forfeited, canceled or expired
(160
)
10.70
Exercised
(110
)
3.12
Outstanding at December 31, 2013
993
6.73
Options
Outstanding
Options
Exercisable
Options
Vested and
Expected to
Vest
Number (in thousands)
993
698
991
Weighted-average exercise price $
6.73
$
8.03
$
6.73
Aggregate intrinsic value (in millions) $
3.8
$
2.4
$
3.8
Weighted average remaining contractual term (in years)
3.5
2.4
3.5
RSUs
Outstanding
Weighted-
Average
Grant Date Fair
Value per Share
Outstanding at December 31, 2012
179
$
2.60
Granted
34
6.62
Forfeited, canceled or expired
(2
)
—
Vested
(72
)
2.60
Outstanding at December 31, 2013
139
3.58