Vistaprint 2006 Annual Report Download - page 81

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Table of Contents VISTAPRINT LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Years Ended June 30, 2006, 2005 and 2004
(in thousands, except share and per share data)
A summary of the Company’s share option activity and related information for the year ended June 30, 2006 is as follows:
2006
Options
Weighted−
Average
Exercise
Price
Outstanding at the beginning of the period 6,811,544 $ 7.23
Granted 1,108,382 17.17
Exercised (1,905,315) 3.49
Forfeited/cancelled (218,491) 10.37
Outstanding at the end of the period 5,796,120 $ 10.25
Vested or expected to vest 5,621,340 $ 10.16
Exercisable at the end of the period 1,539,436 $ 5.70
The weighted average remaining contractual life of options outstanding was 8.4 years at June 30, 2006. The weighted average remaining
contractual life of options vested or expected to vest was 1.0 year at June 30, 2006. The weighted average remaining contractual life of options
exercisable was 7.0 years at June 30, 2006.
The Company had an aggregate of 1,612,751 common shares available for future award under its share−based compensation plans as of
June 30, 2006.
The following table represents weighted average price and life information about significant option groups outstanding at June 30, 2006:
Exercise Prices Number
Outstanding
Weighted Average
Remaining
Contractual Life
(Yrs.) Weighted Average
Exercise Price Number
Exercisable Weighted Average
Exercise Price
$ 1.11 – 1.90 751,074 5.15 $1.26 692,577 $1.22
$ 4.11 885,490 7.90 4.11 283,203 4.11
$ 7.00 292,202 8.75 7.00 34,548 7.00
$12.00 – 12.33 3,530,772 8.99 12.26 529,108 12.32
$ 16.93 – 29.99 199,082 9.66 24.99 — —
$ 30.00 – 36.16 137,500 9.72 32.58 — —
$ 1.11 – 36.16 5,796,120 8.35 $10.25 1,539,436 $5.70
As of June 30, 2006, the Company had outstanding options to acquire an aggregate of 5,796,120 common shares with an intrinsic value of
$96,660. Of the outstanding options, 1,539,436 common shares were vested as of June 30, 2006, representing an intrinsic value of $32,391, and
4,256,684 common shares were unvested, representing an intrinsic value of $64,269. Of the outstanding options, 5,621,340 common shares were
vested or expected to vest as of June 30, 2006, representing an intrinsic value of $94,174. The total intrinsic value of options exercised during the
years ended June 30, 2006, 2005 and 2004 was $46,421, $84 and $678, respectively.
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