TiVo 2007 Annual Report Download - page 81

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Table of Contents
The following table summarizes the Company's unvested stock activity for the three years ended January 31, 2008, 2007, and 2006:
Number of
Shares
Weighted-Average
Grant Date Fair
Value
(in thousands)
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
Granted 642 $ 6.04
Vested (176) $ 6.66
Forfeited (50) $ 6.97
Unvested stock at January 31, 2008 912 $ 6.35
Performance-Based Awards
During fiscal year 2008, the Company initiated a performance-based plan that would grant restricted stock to specified manager-level employees based
on the attainment of specified goals. The number of awards to be issued was determined in the first quarter of fiscal year 2009 based on upon meeting various
departmental and company-wide performance goals for fiscal year 2008. The numbers of awards issued in March 2008 was 143,114 shares for restricted stock
that will then vest over a two year period. Total compensation cost recognized related to these performance-based awards was approximately $302,000 for the
fiscal year ended January 31, 2008. As of January 31, 2008, $811,000 of total unrecognized compensation cost related to these awards are expected to be
recognized over a weighted-average period of 2.13 years.
12. RETIREMENT PLAN
In December 1997, the Company established a 401(k) Retirement Plan (the Retirement Plan) available to employees who meet the plan's eligibility
requirements. Participants may elect to contribute a percentage of their compensation to the Retirement Plan up to a statutory limit. Participants are fully
vested in their contributions. The Company may make discretionary contributions to the Retirement Plan as a percentage of participant contributions, subject
to established limits. The Company has not made any contributions to the Retirement Plan through January 31, 2008.
13. ADOPTION OF STOCKHOLDER RIGHTS PLAN
On January 9, 2001, TiVo's Board of Directors declared a dividend distribution of one Preferred Share Purchase Right (Right) on each outstanding
share of TiVo common stock outstanding at the close of business on January 1, 2001 (the Rights Plan). Subject to limited exceptions, the Rights will be
exercisable if a person or group acquires 15% or more or 30.01% or more in the case of AOL and its affiliates and associates, of the Company's common
stock or announces a tender offer for 15% or more of the common stock, (Acquiring Person). On April 12, 2006, TiVo amended the Rights Plan's definition of
Acquiring Person
79