eTrade 2003 Annual Report Download - page 99

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Table of Contents
Index to Financial Statements
expiration date of his previously vested options to purchase 5.4 million shares of common stock at a weighted-average price of $20.33 per
share to January 2004; as all options were fully vested at January 23, 2003, none were canceled. As a result of this, the Company recorded
compensation expense for in-the money options of $46,000 in 2003.
A summary of stock option activity follows (shares in thousands):
The options available for grant, as well as the options exercisable and the associated weighted-average exercise price are shown in the
following table (shares in thousands):
The following table summarizes information on outstanding and exercisable stock options at December 31, 2003:
86
Number of
Shares
Weighted-
Average Exercise
Price
Outstanding at December 31, 2000:
46,187
$
11.78
Granted
14,281
$
6.67
Exercised
(7,218
)
$
3.18
Canceled
(7,135
)
$
14.97
Outstanding at December 31, 2001:
46,115
$
11.05
Granted
5,300
$
7.61
Exercised
(2,568
)
$
4.33
Canceled
(7,419
)
$
13.10
Outstanding at December 31, 2002:
41,428
$
10.66
Granted
15,702
$
5.84
Exercised
(8,543
)
$
5.36
Canceled
(4,203
)
$
11.22
Outstanding at December 31, 2003
44,384
$
9.92
Year Ended December 31,
2003
2002
2001
Options available for grant
10,959
(1)
20,465
1,323
Options exercisable
29,939
27,147
23,231
Options exercisable weighted
-
average exercise price
$
10.83
$
11.40
$
11.68
(1)
Upon registration of the evergreen provision, options available for grant will increase by approximately 18.0 million shares.
Options Outstanding
Options Exercisable
Option Exercise Price
Number
Outstanding
(in thousands)
Weighted-
Average
Contractual
Life (Years)
Weighted
-
Average
Exercise
Price
Number
Exercisable
(in thousands)
Weighted
-
Average
Exercise
Price
$ 0.01
–
$
3.81
7,682
7.65
$
3.30
7,202
$
3.27
$ 3.85
–
$
5.73
8,122
6.92
$
4.81
5,969
$
4.84
$ 5.74
–
$
7.09
7,608
7.05
$
6.65
5,598
$
6.70
$ 7.20
–
$
9.46
7,987
8.69
$
7.89
1,553
$
8.10
$ 9.48
–
$
14.44
3,875
8.34
$
10.92
1,140
$
11.96
$14.88
–
$
24.27
3,744
6.23
$
18.95
3,184
$
19.08
$24.31
–
$
58.19
5,366
5.83
$
27.80
5,293
$
27.81
$ 0.01
–
$
58.19
44,384
7.32
$
9.92
29,939
$
10.83