iRobot 2008 Annual Report Download - page 28

(7) Ms. Dean’s stock option grants vest over a five-year period, at a rate of twenty percent (20%) on the first
anniversary of the grant, and annually thereafter.
(8) Ms. Dean’s stock option grants vest over a four-year period, at a rate of twenty-five percent (25%) on the
first anniversary of the grant, and quarterly thereafter. Ms. Dean’s restricted stock awards vest over a
four-year period, at a rate of twenty-five percent (25%) on each anniversary of the grant.
(9) Ms. Dean’s restricted stock award vests over a two-year period, at a rate of fifty percent (50%) on the
six-month anniversary of the grant and fifty percent (50%) on the two-year anniversary of the grant.
(10) Ms. Greiner’s stock option grants vest over a four-year period, at a rate of twenty-five percent (25%) on
the first anniversary of the grant, and quarterly thereafter. Ms. Greiner’s restricted stock awards vest over
a four-year period, at a rate of twenty-five percent (25%) on each anniversary of the grant.
Option Exercises and Stock Vested
The following table sets forth, for each of the named executive officers, information with respect to the
exercise of stock options and the vesting of restricted stock awards during the year ended December 27, 2008,
as well as the year-end value of exercised options and vested restricted stock.
OPTION EXERCISES AND STOCK VESTED — 2008
Name
Shares
Acquired on
Exercise(#)
Value
Realized on
Exercise($)(1)
Number of Shares
Acquired on
Vesting(#)
Value
Realized on
Vesting($)
Option Awards Stock Awards
Colin M. Angle................... — — 7,808 136,868
John J. Leahy .................... — — — —
Joseph W. Dyer................... — — 4,557 79,627
Glen D. Weinstein................. 13,000 202,830 3,100 49,906
Alison Dean ..................... 25,000 86,945 1,292 19,333
Helen Greiner .................... — — 7,808 136,868
Geoffrey P. Clear ................. 52,440 640,052 8,531 128,471
(1) Amounts disclosed in this column were calculated based on the difference between the fair market value
of our common stock on the date of exercise and the exercise price of the options in accordance with regu-
lations promulgated under the Exchange Act.
Potential Benefits Upon Termination or Change in Control
Severance and Change in Control Arrangements in General
The executive agreements described under “Transactions with Our Executive Officers and Directors”
below provide that, upon termination of the executive officer’s employment without cause, the executive
officer is entitled to severance payments equal to 50% of the executive officer’s base salary, continued health
plan premium payments for up to six months, and any unpaid compensation, benefits or unused vacation
accrued. The executive agreements also provide that, upon an involuntary termination upon a change in
control, or upon a resignation for good reason upon a change in control, the executive officer is entitled to
100% of the executive officer’s base salary, 50% of the executive officer’s target cash incentive compensation
or other performance, profit-sharing or any other similar arrangement, continued health plan premium
payments for up to one year, full vesting of all unvested stock, stock options, awards and rights, and any
unpaid compensation, benefits or unused vacation accrued. In addition, upon a change in control, the executive
agreements provide for the vesting of 25% of all unvested stock, option, awards and purchase rights granted to
the executive officer.
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