TiVo 2009 Annual Report Download - page 96
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Table of Contents
Stock Award Activity
A summary of the stock options activity and related information for the twelve months ended January 31, 2010, 2009, and 2008 is as follows:
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual Term
Aggregate
Intrinsic
Value
(in thousands) (in thousands)
Outstanding at January 31, 2007 18,170 $ 7.19 7.05 $ 5,482
Grants 7,551 6.19
Exercises (1,396) 5.08
Forfeitures or expirations (2,263) 7.94
Outstanding at January 31, 2008 22,062 $ 6.91 6.76 $ 54,245
Grants 2,258 8.65
Exercises (1,774) 5.21
Forfeitures or expirations (1,479) 7.17
Outstanding at January 31, 2009 21,067 $ 7.22 6.23 $ 18,453
Grants 403 9.71
Exercises (6,195) 6.13
Forfeitures or expirations (356) 8.50
Outstanding at January 31, 2010 14,919 $ 7.71 5.60 $ 31,216
The aggregate intrinsic value in the preceding table is based on options with an exercise price less than the Company's closing stock price of $9.02 as of
January 31, 2010, which would have been received by the option holders had those option holders exercised their options as of that date. Total intrinsic value
of options exercised was $22.4 million, $5.3 million, and $3.1 million for the twelve months ended January 31, 2010, 2009, and 2008, respectively.
The following table summarizes information about options outstanding at January 31, 2010:
Options Outstanding Exercisable Options
Range of Exercise Prices Number of Shares
Weighted Average
Remaining
Contractual Life
Weighted Average
Exercise Price Number of Shares
Weighted Average
Exercise Prices
$ 2.67 - $ 6.02 1,549,444 4.93 $ 4.64 1,428,989 $ 4.55
$ 6.04 - $ 6.18 3,811,788 7.05 $ 6.18 2,111,076 $ 6.18
$ 6.23 - $ 6.51 916,601 4.65 $ 6.42 530,645 $ 6.37
$ 6.52 - $ 6.52 2,002,084 5.41 $ 6.52 2,002,084 $ 6.52
$ 6.53 - $ 6.86 1,549,288 5.83 $ 6.72 1,395,309 $ 6.71
$ 6.93 - $ 8.57 1,501,451 4.84 $ 7.36 1,185,158 $ 7.36
$ 8.64 - $ 8.86 103,049 4.24 $ 8.74 75,223 $ 8.75
$ 8.94 - $ 8.94 1,564,104 8.10 $ 8.94 580,466 $ 8.94
$ 9.00 - $ 20.00 1,578,847 2.86 $ 13.81 1,263,260 $ 14.72
$ 21.00 - $ 33.37 342,250 0.34 $ 21.24 342,250 $ 21.24
Total 14,918,906 5.60 $ 7.71 10,914,460 $ 7.86
Net cash proceeds from the exercise of stock options were $38.0 million, $9.2 million, and $7.1 million for the twelve months ended January 31, 2010,
2009, and 2008, respectively. Information regarding stock options outstanding at January 31, 2010 is summarized as follows:
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
(in thousands) (in thousands)
Shares outstanding 14,919 $ 7.71 5.61 $ 31,216
Shares vested and expected to vest* 14,687 $ 7.72 5.58 $ 30,872
Shares exercisable 10,914 $ 7.86 5.01 $ 24,054
* Options outstanding that are expected to vest are net of estimated future option forfeitures
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