ServiceMagic 2011 Annual Report Download - page 102

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IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 14—STOCK-BASED COMPENSATION (Continued)
Stock Options
A summary of changes in outstanding stock options is as follows:
The following table summarizes the information about stock options outstanding and exercisable as of December 31, 2011:
The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between IAC's closing stock price
on the last trading day of 2011 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the
option holders had all option holders exercised their options on December 31, 2011. This amount changes based on the fair market value of
IAC's common stock. The total intrinsic value of stock options exercised during the years ended December 31, 2011, 2010 and 2009 was
$70.6 million, $16.4 million and $2.8 million, respectively.
The fair value of each stock option award is estimated on the grant date using the Black-Scholes option pricing model. Approximately
2.6 million, 2.4 million and 0.9 million stock options were granted by the Company during the years ended December 31, 2011, 2010 and 2009,
respectively.
95
December 31, 2011
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
(Shares and intrinsic value in thousands)
Outstanding at January 1, 2011
13,418
$
22.06
Granted
2,563
32.37
Exercised
(4,733
)
22.03
Forfeited
(683
)
17.66
Expired
(40
)
19.79
Outstanding at December 31, 2011
10,525
$
24.88
7.1
$
186,474
Options exercisable
3,871
$
23.30
5.2
$
74,704
Options Outstanding
Options Exercisable
Range of Exercise Prices
Outstanding at
December 31,
2011
Weighted
-
Average
Remaining
Contractual
Life in Years
Weighted
-
Average
Exercise
Price
Exercisable at
December 31,
2011
Weighted
-
Average
Remaining
Contractual
Life
Weighted
-
Average
Exercise
Price
(Shares in thousands)
$0.01 to $10.00
28
1.4
$
4.46
28
1.4
$
4.46
$10.01 to $20.00
3,080
6.3
16.54
1,650
5.7
16.31
$20.01 to $30.00
3,483
6.6
22.02
1,473
5.6
22.56
$30.01 to $40.00
3,156
9.2
32.20
19
2.1
33.79
$40.01 to $50.00
778
4.1
41.76
701
3.4
41.80
10,525
7.1
$
24.88
3,871
5.2
$
23.30