THQ 2011 Annual Report Download - page 72

Download and view the complete annual report

Please find page 72 of the 2011 THQ 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.

Page out of 99

  • 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

The weighted-average grant-date fair value of options granted during fiscal 2011, 2010 and 2009 was $2.42, $2.77 and $3.25,
respectively, and were based on the weighted-average assumptions noted in the table below.
Dividend yield
Anticipated volatility
Weighted-average risk-free interest rate
Expected lives
)LVFDO<HDU(QGHG0DUFK

—%
71.1%
1.0%
3.0 years

—%
65.6%
1.5%
3.0 years

—%
46.8%
1.8%
3.0 years
The fair value of our ESPP options for the six-month offering periods that began on September 1, 2010, March 1, 2010, September
1, 2009 and September 2, 2008, was estimated using the Black-Scholes option pricing model with the weighted-average assumptions
noted in the table below, and the per share fair value for those offering periods was $1.03, $1.62, $1.89, and $3.98, respectively.
(PSOR\HH6WRFN3XUFKDVH3ODQ
Dividend yield
Anticipated volatility
Weighted-average risk-free interest rate
Expected lives
6HSWHPEHU

—%
58.3%
0.2%
0.5 years
0DUFK

—%
48.1%
0.2%
0.5 years
6HSWHPEHU

—%
84.5%
0.2%
0.5 years
6HSWHPEHU

—%
36.8%
1.9%
0.5 years
A summary of our stock option activity for fiscal 2011, 2010 and 2009 is as follows (amounts in thousands, except per share
amounts):
Outstanding at March 31, 2008
Granted
Exercised
Forfeited/expired/cancelled
Outstanding at March 31, 2009
Granted
Exercised
Forfeited/expired/cancelled
Outstanding at March 31, 2010
Granted
Exercised
Forfeited/expired/cancelled
Outstanding at March 31, 2011
Vested and expected to vest
Exercisable at March 31, 2011
2SWLRQV
8,117
3,925
(438)
(2,779)
8,825
4,203
(121)
(3,701)
9,206
2,428
(115)
(2,766)
8,753
8,047
4,204
:HLJKWHG
$YHUDJH
([HUFLVH
3ULFH
$ 22.10
$ 10.40
$ 13.71
$ 20.42
$ 17.84
$ 6.26
$ 4.62
$ 15.89
$ 13.51
$ 5.14
$ 4.38
$ 15.17
$ 10.78
$ 11.20
$ 15.83
:HLJKWHG
$YHUDJH
5HPDLQLQJ
&RQWUDFWXDO
7HUP
LQ\HDUV
2.9
2.9
2.1
$JJUHJDWH
,QWULQVLF
9DOXH
$ 786
$ 688
$ 245
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, 2011. It excludes stock options that have exercise prices in excess of the quoted price of our
common stock at March 31, 2011. The aggregate intrinsic value of stock options exercised during fiscal 2011, 2010 and 2009 was
$0.2 million, $0.2 million and $2.6 million, respectively.
63