Twenty-First Century Fox 2008 Annual Report Download - page 112

NEWSCORP
Notes to the Consolidated Financial Statements (continued)
The following table summarizes information about the Company’s stock option transactions (options in thousands):
Tranches Options Outstanding
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life Exercisable Options
Weighted
Average
Exercise
Price
(in US$) (in US$) (in US$)
$3.14 to $3.93 5 3.58 4.14 5 3.58
$6.83 to $10.08 15,167 8.97 3.69 15,167 8.97
$10.40 to $15.58 37,902 13.13 3.23 36,067 13.10
$16.41 to $23.25 20,628 20.53 2.18 20,433 20.56
$25.17 to $27.74 12,024 27.74 1.35 12,024 27.74
$40.08 to $59.32 19 46.49 1.09 19 46.49
85,745 $ 16.23 83,715 $ 16.28
NDS Option Schemes
NDS has three executive share option schemes (“the NDS Plans”). The NDS Plans provide for the grant of options to purchase Series A ordinary
shares in NDS with a maximum term of ten years. Stock options granted under the NDS Plans vest over a four-year period. The NDS Plans
authorize stock options to be granted subject to a maximum of 10% of the ordinary shares of NDS on issue at the date of grant. All NDS employees
are entitled to participate in the NDS Plans, however (with the exception of the employee share ownership schemes which are open to all),
management determines to whom and how many stock options are granted.
A summary of the NDS stock options (options in thousands):
Fiscal 2008 Fiscal 2007 Fiscal 2006
Options Weighted average exercise price Options Weighted average exercise price Options Weighted average exercise price
(in US$) (in US$) (in US$)
Outstanding at the beginning of the year 2,790 $29.05 3,691 $26.28 4,338 $ 18.17
Granted — — — — 942 43.13
Exercised (470) 20.31 (846) 16.68 (1,555) 14.00
Cancelled (32) 37.30 (55) 33.64 (34) 20.05
Outstanding at the end of the year 2,288 $30.72 2,790 $29.05 3,691 $26.28
Vested and unvested expected to vest at
June 30, 2008 2,269
Exercisable at the end of the year 1,808 1,841 2,150
Weighted average fair value of options
granted $ — $ — $29.42
NDS 2006 Long-Term Incentive Plan
In October 2006, NDS shareholders approved the NDS 2006 Long-Term Incentive Plan (the “NDS LTIP”), which provides for awards of stock options
to purchase NDS Series A ordinary shares (“NDS shares”), restricted awards, conditional awards, stock appreciation rights or awards of NDS shares,
the terms and conditions of which are described in the NDS LTIP. American Depositary Receipts representing NDS shares are given to recipients in
respect of any awards of NDS shares. The maximum number of NDS shares that may be issued or delivered under the NDS LTIP is 10,000,000
shares. There will be no further stock options granted under two of NDS’s existing stock option plans: The NDS 1997 Executive Share Option
Scheme or The NDS 1999 Executive Share Option Scheme. However, further grants may be made under the NDS U.K. Approved Share Option
Scheme, which will be treated as a sub-scheme of the NDS LTIP.
During the fiscal years ended June 30, 2008 and June 30, 2007, fixed conditional awards over an aggregate of 24,500 NDS shares and 43,500
NDS shares, respectively, were awarded to certain employees and directors of NDS. The fiscal 2008 fixed conditional awards vest in four equal
annual installments beginning on August 15, 2008 and the fiscal 2007 fixed conditional awards vest in four equal annual installments beginning
on August 15, 2007, each subject to, among other conditions, the individual’s continued employment with NDS. The grant date fair value of the
fiscal 2008 fixed conditional awards was $55.91 per share, and the grant date fair value of the fiscal 2007 fixed conditional awards was $51.57 per
share.
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