Overstock.com 2008 Annual Report Download - page 109

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Table of Contents
The following table summarizes information about stock options as of December 31, 2008 (in thousands, except per share data):
Options Outstanding Options Exercisable
Range of Exercise Prices Shares
Weighted
Average Exercise
Price
Weighted
Average
Remaining
Contract Life
Aggregate Intrinsic
Value Shares
Weighted
Average Exercise
Price
Weighted
Average
Remaining
Contract Life
Aggregate Intrinsic
Value
$8.50-$16.99 17 $ 13.28 7.04 $ 51 4 $ 14.92 4.73 $ 45
$17.00-$17.99 577 17.11 8.05 276 17.11 8.04
$18.00-$29.99 221 19.97 1.68 181 19.63 0.97
$30.00-$58.30 159 39.04 2.87 147 39.18 2.72
. 974 21.27 5.74 51 609 23.18 4.63 45
Total unrecognized compensation costs related to nonvested awards was approximately $6.2 million, $7.3 million and $4.2
million as of December 31, 2006, 2007 and 2008, respectively. These nonvested awards are expected to be exercised over the
weighted average period of 7.6 years.
The aggregate intrinsic value in the table above represents the total pretax intrinsic value, based on the Company's average stock
price of $16.02 during the year ended December 31, 2008, which would have been received by the option holders had all option
holders exercised their options as of that date. There were no in-the-money options exercisable as of December 31, 2008.
The weighted average exercise price of options granted during the years ended December 31, 2006, 2007 and 2008 were $22.47,
$18.14 and $14.14 per share, respectively. The total fair values of the shares vested during the years ended December 31, 2006, 2007
and 2008 were $3.1 million, $3.7 million and $5.2 million, respectively. The total intrinsic value of options exercised during the years
ended December 31, 2006, 2007 and 2008 was $3.3 million, $4.5 million and $364,000 million, respectively. The total cash received
from employees as a result of employee stock option exercises during the years ended December 31, 2006, 2007 and 2008 were
approximately $2.5 million, $3.2 million and $1.5 million, respectively. In connection with these exercises, there was no tax benefit
realized by the Company due to the Company's current loss position.
Restricted Stock Unit Activity
For the year ended December 31, 2008, 491,000 restricted stock units were granted. The cost of restricted stock units is
determined using the fair value of our common stock on the date of the grant and compensation expense is recognized in accordance
with the vesting schedule. The weighted average grant date fair value of restricted stock units granted during the year ended
December 31, 2008 was $12.64.
The following is a summary of restricted stock unit activity (amounts in thousands, except per share data):
Units
Grant Date
Fair Value
Outstanding—beginning of year $ —
Granted at fair value 491 12.64
Vested
Canceled/forfeited (42)12.13
Outstanding—end of year 449 12.69
Restricted stock units vested at year-end
F-29