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V
O
NA
G
EH
O
LDIN
GS CO
RP
.
N
O
TE
S
T
OCO
N
SO
LIDATED FINAN
C
IAL
S
TATEMENT
S
—
(C
ontinued
)
(
In thousands, except per share amounts
)
T
he following table summarizes the activity under both of our
S
tock Incentive Plans
:
(S
hares and Intrinsic Value in Thousands
)
Nu
m
ber
of
S
hare
s
R
ange o
f
E
x
e
r
cise
P
r
i
ces
W
e
igh
te
d
Averag
e
E
x
e
r
cise
P
r
i
c
e
Weighted
A
verage
R
ema
i
n
i
n
g
C
ontractual
Te
rm
i
n
Y
ears
Aggregat
e
I
ntr
i
n
sic
V
a
l
u
e
W
e
igh
te
d
A
verage
Grant Dat
e
F
a
i
r
V
a
l
ue
Awards outstandin
g
at December 31, 2005 13,372
$
0.70 -
$
35.00
$
5.88
G
ranted 7,547 $0.00 - $18.00 $9.70 $7.89
E
xercised (339) $0.00 - $7.42 $1.27 $ 2,529 $0.55
C
anceled (1,664)
$
0.00 -
$
35.00
$
8.54
$
4.2
0
Awards outstanding at December 31, 2006 18,916
$
0.00 -
$
35.00
$
7.25 7.7
$
4.09
G
ranted 10,999 $0.00 - $6.94 $2.53 $2.0
1
E
xercised
(
1,034
)
$0.00 - $1.76 $0.79 $ 2,442 $2.48
C
anceled (7,520)
$
0.00 -
$
35.00
$
6.15
$
4.4
6
Awards outstanding at December 31, 2007 21,361
$
0.00 -
$
35.00
$
5.53 5.6
$
10,244
$
2.97
G
ranted 16,875
$
0.00 -
$
2.21
$
1.45
$
1.05
E
xercised
(
832
)
$0.00 - $1.76 $0.06 $ 1,102 $3.1
1
C
anceled (5,072) $0.00 - $35.00 $5.07 $3.2
2
Awards outstanding at December 31, 2008 32,332 $0.00 - $35.00 $3.61 6.5 $ 2,050 $1.93
S
hares exercisable at December 31
,
2008 10
,
886
$
0.00 -
$
35.00
$
6.28 5.7
$
–
$
2.5
6
Unvested shares at December 31, 2007 12,559
$
0.00 -
$
18.00
$
4.56 5.4
$
7,880
$
3.0
0
Unvested shares at December 31, 2008 21,446 $0.00 - $18.00 $2.26 6.9 $ 1,999 $1.6
1
T
he weighted average grant date fair value of options granted was
$
1.05,
$
2.01 and
$
7.89 for the years ende
d
D
ecem
b
er 31, 2008, 2007 an
d
2006, respect
i
ve
l
y
.
T
otal share-based compensation expense recognized
f
or the years ended December 31, 2008, 2007 and 2006 was
$
12,238,
$
7,542 and
$
26,980, respectively, which were recorded to selling, general and administrative expense in th
e
consolidated statement of operations. As of December 31, 2008, total unamortized share-based compensation wa
s
$
14,592, which is expected to be amortized over the remaining vesting period of each grant, up to the next 48 months
.
C
ompensation costs for all share-based awards are recognized using the ratable single-option approach on an accrua
l
b
as
i
san
d
are amort
i
ze
d
us
i
n
g
an acce
l
erate
d
amort
i
zat
i
on sc
h
e
d
u
l
e.
R
estr
i
cte
d
stoc
k
an
d
restr
i
cte
d
stoc
k
un
i
t act
i
v
i
ty
under our 2006 Incentive Plan was as
f
ollows
:
(Shares in Thousands)
N
umber
of Share
s
W
e
i
g
h
te
d
A
vera
ge
G
rant Date
Fai
r
Value
Agg
re
g
ate
Intrinsic
Value
A
war
d
s outstan
di
ng at
D
ecem
b
er 31, 2005 –
G
rante
d
1,
986 $6.50
E
xerc
i
se
d
(7) $8.51 $ 4
9
C
ancele
d
(67) $6.4
9
Awards outstandin
g
at December 31, 2006 1,912 $6.4
9
G
rante
d
3,130 $2.40
E
x
e
r
c
i
sed
(
364
)
$6.42 $ 84
7
C
ancele
d
(
1,574
)
$4.6
8
Awards outstandin
g
at December 31, 2007 3,104 $3.33 $7,13
9
G
rante
d
1
,747 $1.91
E
x
e
r
c
i
sed
(
786
)
$3.28 $1,05
9
C
ancele
d
(
960
)
$2.92
Awards outstandin
g
at December 31, 2008 3,105 $2.67 $2,05
0
F-2
3