THQ 2009 Annual Report Download - page 94

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pricing model with the weighted-average assumptions noted in the table below and the per share fair value
for those offering periods was $3.98, $5.52, $7.63, and $8.39, respectively.
Stock Option Employee Stock Stock Option Employee Stock Stock Option Employee Stock
Grants Purchase Plan Grants Purchase Plan Grants Purchase Plan
Year Ended Year Ended Year Ended Year Ended Year Ended Year Ended
March 31, 2009 March 31, 2009 March 31, 2008 March 31, 2008 March 31, 2007 March 31, 2007
Dividend yield ...... —% —% —% —% —% —%
Anticipated volatility . 46.8% 36.8% 36% 38.8% 37% 37%
Weighted-average
risk-free interest rate . 1.8% 1.93% 3.9% 4.4% 4.9% 5.1%
Expected lives ...... 3.0 years 0.5 years 3.2 years 0.5 year 3.2 years 0.5 year
A summary of our stock option activity for fiscal 2009, 2008 and 2007 is as follows (in thousands, except per
share amounts):
Weighted-
Average
Weighted- Remaining
Average Contractual Aggregate
Exercise Term Intrinsic
Options Price (in years) Value
Outstanding at March 31, 2006 ......... 9,075 $16.00
Granted ........................ 2,638 $24.60
Exercised ....................... (3,217) $15.66
Forfeited/expired/cancelled .......... (932) $18.61
Outstanding at March 31, 2007 ......... 7,564 $19.15
Granted ........................ 2,982 $27.44
Exercised ....................... (1,422) $14.89
Forfeited/expired/cancelled .......... (1,007) $25.86
Outstanding at March 31, 2008 ......... 8,117 $22.10
Granted ........................ 3,925 $10.40
Exercised ....................... (438) $13.71
Forfeited/expired/cancelled .......... (2,779) $20.42
Outstanding at March 31, 2009 ......... 8,825 $17.84 3.1 $18
Vested and expected to vest ......... 7,987 $18.17 3.0 $16
Exercisable at March 31, 2009 .......... 3,808 $21.52 1.8 —
The aggregate intrinsic value is calculated as the difference between the exercise price of a stock option
and the quoted price of our common stock at March 31, 2009. It excludes stock options that have exercise
prices in excess of the quoted price of our common stock at March 31, 2009. The aggregate intrinsic value
of stock options exercised during fiscal years ended March 31, 2009, 2008 and 2007 was $2.6 million,
$19.5 million and $42.9 million, respectively.
The weighted-average grant-date fair value per share of options granted during fiscal years ended
March 31, 2009, 2008 and 2007 was $3.25, $8.28 and $7.81, respectively.
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