Vistaprint 2007 Annual Report Download - page 89

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VISTAPRINT LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Years Ended June 30, 2007, 2006 and 2005
(in thousands, except share and per share data)
The following table represents weighted average price and life information about significant option
groups outstanding at June 30, 2007:
Exercise Prices
Number
Outstanding
Weighted Average
Remaining
Contractual Life
(Yrs.)
Weighted Average
Exercise Price
Number
Exercisable
Weighted Average
Exercise Price
$1.11 – $12.00 1,258,819 7.52 $ 7.76 533,806 $ 6.27
$12.33 1,663,815 7.92 12.33 556,601 12.33
$16.93 – $23.31 807,909 9.04 22.87 19,503 19.38
$24.32 – $33.31 347,791 9.08 29.27 37,428 29.27
$36.16 34,500 8.67 36.16 10,780 36.16
$37.51 312,093 9.87 37.51 — 0.00
$1.11 – $37.51 4,424,927 8.25 $16.25 1,158,118 $10.42
A summary of the Company’s unvested restricted share unit activity and related information for
the fiscal year ended June 30, 2007 is as follows:
Restricted Share
Units
Weighted-
Average
Grant Date
Fair Value
Unvested at the beginning of the period ................................ — $ —
Granted ............................................................. 646,243 30.86
Vested and distributed ................................................ — —
Forfeited/cancelled ................................................... (36,983) 32.34
Unvested at the end of the period...................................... 609,260 $30.77
The Company had an aggregate of 4,739,629 common shares available for future award under
its share-based compensation plans as of June 30, 2007.
The total fair value of shares vested during the fiscal year ended June 30, 2007 was $3,518. The
total intrinsic value of options exercised during the fiscal years ended June 30, 2007, 2006 and 2005
was $54,763, $46,421 and $84, respectively.
11. Employees’ Savings Plan
The Company has a defined contribution retirement plan that complies with Section 401(k) of the
Internal Revenue Code. Substantially all employees in the U.S. are eligible to participate in the plan.
Under the provisions of the plan, employees may voluntarily contribute up to 15% of eligible
compensation, subject to IRS limitations. The Company matches 50% of each participant’s voluntary
contributions, subject to a maximum Company contribution of 3% of the participant’s eligible
compensation. Employee contributions are fully vested when contributed. Company matching
contributions vest over four years. The Company contributed and expensed $608, $396 and $253 in
the years ended June 30, 2007, 2006 and 2005, respectively.
85
Form 10-K