TiVo 2006 Annual Report Download - page 94
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Table of Contents
Net cash proceeds from the exercise of stock options were $9.1 million, $7.0 million, and $1.7 million for the twelve months ended January 31,
2007, 2006, and 2005, respectively. Options outstanding that have vested and are expected to vest as of January 31, 2007 are as follows:
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
(in thousands) (in thousands)
Vested 9,905 $ 8.02 5.95 $ 3,381
Expected to vest 4,512 $ 6.19 8.61 $ 1,122
Total 14,417 $ 7.45 6.78 $ 4,503
Options outstanding that are expected to vest are net of estimated future option forfeitures in accordance with the provisions of SFAS No. 123R,
which are estimated when compensation costs are recognized.
Restricted Stock Awards
The Company had 495,867 restricted stock awards outstanding as of January 31, 2007, which were excluded from the options outstanding
balances in the preceding tables. The total aggregate grant date fair value was $3.4 million. Aggregate intrinsic value of restricted stock awards at January 31,
2007 was $2.7 million based on the Company's closing stock price on January 31, 2007. Approximately 227,000, 9,000, and 17,000 of the previously granted
restricted stock awards vested during the twelve months ended January 31, 2007, 2006, and 2005, respectively. The grant of these restricted stock awards has
been deducted from the shares available for grant under the Company's stock option plans. The total fair value of restricted stock awards vested was $1.3
million, $95,000 and $180,000 for the twelve months ended January 31, 2007, 2006, and 2005, respectively.
The following table summarizes the Company's unvested stock activity for the three years ended January 31, 2007, 2006, and 2005:
Number of
Shares
Weighted-Average
Grant Date Fair
Value
(in thousands)
Unvested stock at January 31, 2004 26 $ 10.57
Granted —
Vested (17) $ 10.57
Forfeited —
Unvested stock at January 31, 2005 9 $ 10.57
Granted 480 $ 6.11
Vested (9) $ 10.57
Forfeited —
Unvested stock at January 31, 2006 480 $ 6.11
Granted 257 $ 7.32
Vested (227) $ 5.69
Forfeited (14) $ 6.71
Unvested stock at January 31, 2007 496 $ 6.91
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