Overstock.com 2009 Annual Report Download - page 50
Download and view the complete annual report
Please find page 50 of the 2009 Overstock.com 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.-
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
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
 |
 |
Table of Contents
determined to terminate prior to expiration, or under which we do not intend to make further purchases.
Period
(a)
Total Number
of Shares
(or Units)
Purchased
(b)
Average Price
Paid per
Share or
Unit
(c)
Total Number
of Shares
(or Units)
Purchased as
Part of
Publicly
Announced
Plans or
Programs
(d)
Maximum Number
(or Approximate
Dollar Value) of
Shares (or Units)
that May Yet Be
Purchased Under
the Plans
or Programs
October 1, 2009 to October 31, 2009 248(1) 14.84 — —
November 1, 2009 to November 30, 2009 — — — —
December 1, 2009 to December 31, 2009 — — — —
Total 248(1) $ 14.84 — $ —
Represents shares withheld for minimum tax withholding purposes upon the vesting of a portion of certain restricted stock unit grants.
Stock based compensation
Stock options
Our board of directors adopted the 2002 Stock Option Plan and the 2005 Equity Incentive Plan (collectively, the "Plans"), in April 2002 and April 2005,
respectively. Under these Plans, the Board of Directors may issue incentive stock options to our employees and directors and non-qualified stock options to
our consultants, as well as other types of awards under the 2005 Equity Incentive Plan. Options granted under these Plans generally expire at the end of either
five or ten years and vest on a straight line basis in accordance with a vesting schedule determined by our Board of Directors, usually over four years from the
grant date. As of the initial public offering, the Amended and Restated 1999 Stock Option Plan was terminated. Subsequent awards will be made under the
2005 Equity Incentive Plan. As of December 31, 2009, 1.2 million shares of stock based awards were available for future grants under the 2005 Equity
Incentive Plan.
The following is a summary of stock option activity (amounts in thousands, except per share data):
2007 2008 2009
Shares
Weighted
Average
Exercise
Price Shares
Weighted
Average
Exercise
Price Shares
Weighted
Average
Exercise
Price
Outstanding—beginning of year 1,011 $ 18.97 1,161 $ 20.48 974 $ 21.27
Granted at fair value 762 18.14 11 14.14 — —
Exercised (354) 8.81 (112) 12.96 (2) 15.82
Expired/forfeited (258) 23.65 (86) 20.45 (251) 24.12
Outstanding—end of year 1,161 20.48 974 21.27 721 20.29
Options exercisable at year-end 408 22.36 609 23.18 543 21.17
Stock options vest over four years at 28% at the end of the first year and 2% each month thereafter. During the years ended December 31, 2007, 2008
and 2009, we recorded stock based compensation related to stock options of $4.5 million, $3.3 million and $2.2 million, respectively.
47
(1)