ServiceMagic 2011 Annual Report Download - page 97

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IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 12—SHAREHOLDERS' EQUITY (Continued)
Following consummation of the above transactions, Mr. Diller, through his own holdings, has 5.8 million shares of IAC's outstanding
Class B common stock representing 42.9% of the outstanding total voting power of the Company.
Description of Preferred Stock
IAC's Board of Directors has the authority to designate, by resolution, the powers, preferences, rights and qualifications, limitations and
restrictions of preferred stock issued by IAC without any further vote or action by the shareholders. Any shares of preferred stock so issued
would have priority over shares of IAC common stock and shares of IAC Class B common stock with respect to dividend or liquidation rights or
both. At December 31, 2011 and 2010 there was no preferred stock issued and outstanding.
Dividend
On November 2, 2011, IAC's Board of Directors declared a quarterly cash dividend of $0.12 per share of common stock and Class B
common stock outstanding, which was paid on December 1, 2011 to stockholders of record as of the close of business on November 15, 2011.
Reserved Common Shares
In connection with equity compensation plans, warrants, and other matters, 42.0 million shares of IAC common stock were reserved as of
December 31, 2011.
Warrants
A summary of changes in outstanding warrants is as follows:
During the years ended December 31, 2010 and 2009 there were zero and approximately 11.6 million warrants exercised, respectively. No
warrants were granted during the years ended December 31, 2011, 2010 and 2009.
91
December 31, 2011
Number of IAC
Common Shares
Underlying Warrants
Weighted
Average
Strike Price
(Shares in thousands)
Outstanding at January 1, 2011
18,297
$
28.07
Exercised
(3,949
)
26.90
Outstanding at December 31, 2011
14,348
$
28.40