ARIA » Topics » Aggregated Option Exercises in Last Fiscal Year and Fiscal Year-End Option Values

This excerpt taken from the ARIA 10-K filed Mar 11, 2005.

Aggregated Option Exercises in Last Fiscal Year and Fiscal Year-End Option Values

The following table provides information regarding the exercise of options by each of the named executive officers during the fiscal year ended December 31, 2004. In addition, this table includes the number of shares covered by both exercisable and unexercisable stock options as of December 31, 2004 and the values of “in-the-money” options, which values represent the positive spread between the exercise price of any such option and either the actual or estimated fair market value of the underlying security, as applicable.

 
Name
  Shares
Acquired on
Exercise(#)

  Value
Realized (9)

  No. of Shares Underlying
Unexercised Options at
Fiscal Year-End
Exercisable/Unexercisable

  Value of Unexercised
In-the Money Options
At Fiscal Year-End
Exercisable/Unexercisable

 
                         
Harvey J. Berger, M.D.   0 (1)   0 (3)   660,250/243,750 (5) $ 2,597,248/625,313 (7)
    1,402 (2) $ 15,464 (4)   0/0 (6) $ 0/0 (8)
                         
Laurie A. Allen, Esq.   0 (1)   0 (3)   195,000/100,000 (5) $ 908,859/259,500 (7)
                         
Camille L. Bedrosian, M.D.   0 (1)   0 (3)   60,000/100,000 (5) $ 264,300/312,400 (7)
                         
David L. Berstein, Esq.   90,571 (1) $ 269,045 (3)   166,000/90,000 (5) $ 302,526/217,700 (7)
    112 (2) $ 1,235 (4)   0/0 (6) $ 0/0 (8)
                         
John D. Iuliucci, Ph.D.   20,000 (1) $ 106,200 (3)   280,750/93,750 (5) $ 1,192,260/226,475 (7)
         
    280 (2) $ 3,088 (4)   0/0 (6) $ 0/0 (8)

5



(1)  Shares of our common stock acquired on exercise of options.
   
(2)  Shares of common stock of our subsidiary, AGTI, acquired on exercise of options.
   
(3) Based upon the fair market value of our common stock on the date of exercise, if any, less the exercise price.
 
(4) Based upon the estimated fair value of the common stock of AGTI, for which there is no public market, less the exercise price.
   
(5) Options to purchase shares of our common stock.
   
(6) Options to purchase common stock of our subsidiary, AGTI.
   
(7) Based upon a fair market value of $7.43 per share of common stock, which was the closing price of a share of our common stock on the NASDAQ National Market on December 31, 2004, less the per share exercise price.
 
(8) Based upon an estimated value of the common stock of AGTI, for which there was no public market on December 31, 2004, less the per share exercise price.
 
(9) Amounts shown in this column do not necessarily represent actual value realized from the sale of the shares acquired upon exercise of the option because in many cases the shares are not sold on exercise but continue to be held by the executive officer exercising the option. The amounts shown represent the difference between the option exercise price and the market price on the date of exercise, which is the amount that would have been realized if the shares had been sold immediately upon exercise.
 
This excerpt taken from the ARIA 10-K filed Feb 18, 2005.

Aggregated Option Exercises in Last Fiscal Year and Fiscal Year-End Option Values

The following table provides information regarding the exercise of options by each of the named executive officers during the fiscal year ended December 31, 2004. In addition, this table includes the number of shares covered by both exercisable and unexercisable stock options as of December 31, 2004 and the values of “in-the-money” options, which values represent the positive spread between the exercise price of any such option and either the actual or estimated fair market value of the underlying security, as applicable.

 
Name   Shares
Acquired on
Exercise(#)
  Value
Realized (9)
  No. of Shares Underlying
Unexercised Options at
Fiscal Year-End
Exercisable/Unexercisable
  Value of Unexercised
In-the Money Options
At Fiscal Year-End
Exercisable/Unexercisable
 

 
 
 
 
 
                         
Harvey J. Berger, M.D.   0 (1)   0 (3)   660,250/243,750 (5) $ 2,597,248/625,313 (7)
    1,402 (2) $ 15,464 (4)   0/0 (6) $ 0/0 (8)
                         
Laurie A. Allen, Esq.   0 (1)   0 (3)   195,000/100,000 (5) $ 908,859/259,500 (7)
                         
Camille L. Bedrosian, M.D.   0 (1)   0 (3)   60,000/100,000 (5) $ 264,300/312,400 (7)
                         
David L. Berstein, Esq.   90,571 (1) $ 269,045 (3)   166,000/90,000 (5) $ 302,526/217,700 (7)
    112 (2) $ 1,235 (4)   0/0 (6) $ 0/0 (8)
                         
John D. Iuliucci, Ph.D.   20,000 (1) $ 106,200 (3)   280,750/93,750 (5) $ 1,192,260/226,475 (7)
    280 (2) $ 3,088 (4)   0/0 (6) $ 0/0 (8)

63



(1) Shares of our common stock acquired on exercise of options.
   
(2) Shares of common stock of our subsidiary, AGTI, acquired on exercise of options.
   
(3) Based upon the fair market value of our common stock on the date of exercise, if any, less the exercise price.
 
(4) Based upon the estimated fair value of the common stock of AGTI, for which there is no public market, less the exercise price.
   
(5) Options to purchase shares of our common stock.
   
(6) Options to purchase common stock of our subsidiary, AGTI.
   
(7) Based upon a fair market value of $7.43 per share of common stock, which was the closing price of a share of our common stock on the NASDAQ National Market on December 31, 2004, less the per share exercise price.
 
(8) Based upon an estimated value of the common stock of AGTI, for which there was no public market on December 31, 2004, less the per share exercise price.
 
(9) Amounts shown in this column do not necessarily represent actual value realized from the sale of the shares acquired upon exercise of the option because in many cases the shares are not sold on exercise but continue to be held by the executive officer exercising the option. The amounts shown represent the difference between the option exercise price and the market price on the date of exercise, which is the amount that would have been realized if the shares had been sold immediately upon exercise.
 

EXCERPTS ON THIS PAGE:

10-K
Mar 11, 2005
10-K
Feb 18, 2005

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