XM Radio 2011 Annual Report Download - page 120
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SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following table summarizes stock option activity under our share-based payment plans for the years
ended December 31, 2011, 2010 and 2009 (shares in thousands):
Shares
Weighted-
Average
Exercise
Price
Weighted-Average
Remaining
Contractual Term
(Years)
Aggregate
Intrinsic
Value
Outstanding, January 1, 2009 ............. 165,436 $4.42
Granted ............................ 265,761 $0.53
Exercised ........................... — $ —
Forfeited, cancelled or expired .......... (66,405) $5.21
Outstanding, December 31, 2009 .......... 364,792 $1.44
Granted ............................ 71,179 $0.97
Exercised ........................... (19,360) $0.56
Forfeited, cancelled or expired .......... (14,741) $3.58
Outstanding, December 31, 2010 .......... 401,870 $1.32
Granted ............................ 77,450 $1.80
Exercised ........................... (13,300) $0.87
Forfeited, cancelled or expired .......... (26,440) $4.15
Outstanding, December 31, 2011 .......... 439,580 $1.25 6.33 $378,274
Exercisable, December 31, 2011 ........... 179,851 $1.59 4.92 $158,550
The weighted average grant date fair value of options granted during the years ended December 31, 2011,
2010 and 2009 was $1.04, $0.67 and $0.36, respectively. The total intrinsic value of stock options exercised
during the years ended December 31, 2011, 2010 and 2009 was $13,408, $13,261 and $0, respectively.
We recognized share-based payment expense associated with stock options of $48,038, $44,833 and
$46,080 for the years ended December 31, 2011, 2010 and 2009, respectively.
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