TiVo 2005 Annual Report Download - page 82

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Table of Contents
A summary of the stock options activity for the 1997 Plan, the 1999 Plan and the Directors' Plan is presented in the table and narrative below:
Shares
Range of Exercise
Prices
Weighted
Average
Exercise
Prices
Outstanding at January 31, 2003 11,438,096 $ 9.05
Granted 3,913,033 $4.98 - $13.50 $ 7.36
Exercised -1,555,287 $ 4.75
Canceled -582,472 $ 8.56
Outstanding at January 31, 2004 13,213,370 $ 9.09
Granted 4,070,750 $3.98 -$12.16 $ 6.77
Exercised -448,086 $ 8.42
Canceled -1,268,761 $ 11.46
Outstanding at January 31, 2005 15,567,273 $ 8.44
Granted 6,791,500 $3.68 - $7.32 $ 4.95
Exercised -1,643,915 $ 4.26
Canceled -3,924,270 $ 9.63
Outstanding at January 31, 2006 16,790,588 $ 7.16
The weighted average fair values of options granted, whose option price equals the fair market value of the Company's common stock on the grant date,
during the fiscal years ended January 31, 2006, 2005, and 2004 were $2.38, $2.92, and $3.15, respectively.
A compensatory stock award of 35,000 shares of the Company's common stock was granted to an employee during the fiscal year ended January 31,
2004. The fair value of the compensatory stock award granted during the fiscal year ended January 31, 2004 was $369,950 based on the closing price of
$10.57 per share on the date of grant.
On September 20, 2004 a stock option grant of 150,000 shares was made to a new employee with an option price less than the fair market value of the
Company's common stock for the date of grant. These stock options were granted as part of a compensation package pursuant to Nasdaq Marketplace Rule
4350(i)(1)(A)(iv) without stockholder approval. The option was cancelled unvested as of July 31, 2005, the last day of the person's employment with the
Company. Stock options to purchase 58,000 shares were granted during the fiscal year ended January 31, 2004 with option prices less than the fair market
value of the Company's common stock for the date of grant.
The weighted average fair values of options granted, whose option price was less than the fair market value of the Company's common stock on the
grant date, during the fiscal years ended January 31, 2005 and 2004 were $2.98 and $3.40 per share, respectively. The fair values of options granted were
determined using the Black-Scholes option-pricing model. There were no stock options granted for any of the reporting periods where the exercise price
exceeded the fair market value of the Company's common stock on the grant date.
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