XM Radio 2008 Annual Report Download - page 87

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The following table summarizes stock option activity under our share-based payment plans for the year ended
December 31, 2008 (shares in thousands):
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term (Years)
Aggregate
Intrinsic
Value
Outstanding, January 1, 2006 ................. 87,024 $4.61
Granted ................................. 5,254 $5.69
Exercised ............................... (19,284) $1.38
Forfeited, cancelled or expired ................ (1,201) $4.58
Outstanding, December 31, 2006 .............. 71,793 $5.56
Granted ................................. 12,715 $3.55
Exercised ............................... (2,859) $1.43
Forfeited, cancelled or expired ................ (2,049) $3.97
Outstanding, December 31, 2007 .............. 79,600 $5.38
Options exchanged for outstanding XM Holdings
options ............................... 67,711 $4.09
Granted ................................. 24,358 $2.12
Exercised ............................... (117) $1.74
Forfeited, cancelled or expired ................ (6,116) $4.09
Outstanding, December 31, 2008 .............. 165,436 $4.42 5.94 $—
Exercisable, December 31, 2008............... 121,742 $4.91 5.07 $—
The weighted average grant date fair value of options granted during the years ended December 31, 2008, 2007
and 2006 was $1.27, $1.88 and $3.11, respectively. The total intrinsic value of stock options exercised during the
years ended December 31, 2008, 2007 and 2006 was $127, $5,286 and $51,847, respectively.
We recognized share-based payment expense associated with stock options of $49,148, $41,431 and $49,083
for the years ended December 31, 2008, 2007 and 2006.
F-37
SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)