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STAMPS.COM INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
The weighted-average fair value of stock grants for 2012, 2011 and 2010 using the Black-Scholes valuation method are as follows:
Weighted average exercise prices for stock options exercised in 2012 are as follows:
Table of Contents
Options
Outstanding
Weighted
Average
Number of
Options
Exercise
Price
Balance at December 31, 2009
3,176
$
14.38
Granted
207
11.33
Forfeited
(325
)
21.69
Exercised
(280
)
7.22
Balance at December 31, 2010
2,778
$
12.58
Granted
1,718
13.20
Forfeited
(136
)
12.01
Exercised
(2,043
)
12.25
Balance at December 31, 2011
2,317
$
13.36
Granted
192
25.50
Forfeited
(88
)
21.44
Exercised
(560
)
13.04
Balance at December 31, 2012
1,861
$
14.33
2012
2011
2010
Weighted-
average fair value of stock options with an exercise price equal to the market price
on the grant date
$
5.04
$
5.05
$
4.71
Weighted-average fair value of stock options with an exercise price greater than the market
price on the grant date
—
—
—
Total
$
5.04
$
5.05
$
4.71
2012
Weighted
-
average exercise price of stock options with an exercise price equal to the market price on the grant date
$
13.04
Weighted-average exercise price of stock options with an exercise price greater than the market price on the grant date
13.40
Total weighted-average exercise price
$
13.04
F
-
24