ARBA » Topics » Stock-Based Compensation Plans

This excerpt taken from the ARBA 10-Q filed May 6, 2009.

Stock-Based Compensation Plans

A summary of the activity related to the Company’s restricted common stock is presented below for the six months ended March 31, 2009:

 

     Six Months Ended
March 31, 2009
     Number of
Shares
    Weighted-
Average
Fair
Value

Nonvested at beginning of period

   6,634,493     $ 10.47

Granted

   287,081     $ 9.07

Vested

   (2,371,445 )   $ 9.65

Forfeited

   (176,330 )   $ 10.62
        

Nonvested at end of period

   4,373,799     $ 10.23
        

The fair value of stock awards vested was $8.1 million and $8.7 million for the three months ended March 31, 2009 and 2008, respectively, and $17.4 million and $16.3 million for the six months ended March 31, 2009 and 2008, respectively.

 

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A summary of the activity related to the Company’s stock options is presented below:

 

     Six Months Ended March 31, 2009
     Number
of Options
    Weighted-
Average
Exercise
Price
   Aggregate
Intrinsic
Value

Outstanding at beginning of period

   814,951     $ 15.00   

Granted

   —       $ —     

Exercised

   (138,165 )   $ 5.15   

Forfeited

   (24,703 )   $ 26.57   
           

Outstanding at end of period

   652,083     $ 16.65    $ 466,000
           

Exercisable at end of period

   652,083     $ 16.65    $ 466,000
           

The total intrinsic value of options exercised during the three months ended March 31, 2009 and 2008 was $365,000 and $311,000, respectively, and $387,000 and $1.2 million during the six months ended March 31, 2009 and 2008, respectively. The aggregate intrinsic value represents the total pretax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the second quarter of fiscal 2009 and the exercise price, multiplied by the number of shares subject to in-the-money options) that would have been received by the option holders had all option holders exercised their options on March 31, 2009. This amount changes based on the fair market value of the Company’s stock.

This excerpt taken from the ARBA 10-Q filed Feb 6, 2009.

Stock-Based Compensation Plans

A summary of the activity related to the Company’s restricted common stock is presented below for the three months ended December 31, 2008:

 

     Three Months Ended
December 31, 2008
     Number of
Shares
    Weighted-
Average
Fair
Value

Nonvested at beginning of period

   6,634,493     $ 10.47

Granted

   141,286     $ 10.08

Vested

   (1,415,583 )   $ 11.45

Forfeited

   (100,251 )   $ 10.47
        

Nonvested at end of period

   5,259,945     $ 10.19
        

The fair value of stock awards vested was $9.3 million and $7.6 million for the three months ended December 31, 2008 and 2007, respectively.

A summary of the activity related to the Company’s stock options is presented below:

 

     Three Months Ended
December 31, 2008
     Number
of
Options
    Weighted-
Average
Exercise
Price
   Aggregate
Intrinsic
Value

Outstanding at beginning of period

   814,951     $ 15.00   

Granted

   —       $ —     

Exercised

   (6,859 )   $ 6.72   

Forfeited

   (10,225 )   $ 14.55   
           

Outstanding at end of period

   797,867     $ 15.08    $ 1,288,000
           

Exercisable at end of period

   797,867     $ 15.08    $ 1,288,000
           

The total intrinsic value of options exercised during the three months ended December 31, 2008 and 2007 was $21,000 and $866,000, respectively. The aggregate intrinsic value represents the total pretax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the first quarter of fiscal 2009 and the exercise price, multiplied by the number of shares subject to in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2008. This amount changes based on the fair market value of the Company’s stock.

 

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This excerpt taken from the ARBA 10-Q filed Aug 6, 2008.

Stock-Based Compensation Plans

A summary of the activity related to the Company’s restricted common stock is presented below for the nine months ended June 30, 2008:

 

     Nine Months Ended
June 30, 2008
     Number of
Shares
    Weighted-
Average
Fair
Value

Nonvested at beginning of period

   6,396,580     $ 8.33

Granted

   3,316,083     $ 11.27

Vested

   (2,226,114 )   $ 9.23

Forfeited

   (717,158 )   $ 9.63
        

Nonvested at end of period

   6,769,391     $ 9.31
        

The fair value of stock awards vested was $7.5 million and $1.8 million for the three months ended June 30, 2008 and 2007, respectively, and $23.8 million and $16.0 million for the nine months ended June 30, 2008 and 2007, respectively.

A summary of the activity related to the Company’s stock options is presented below:

 

     Nine Months Ended
June 30, 2008
     Number of
Options
    Weighted-
Average
Exercise
Price
   Aggregate
Intrinsic
Value

Outstanding at beginning of period

   1,273,285     $ 12.76   

Granted

   —       $ —     

Exercised

   (324,610 )   $ 5.36   

Forfeited

   (70,324 )   $ 23.95   
           

Outstanding at end of period

   878,351     $ 14.56    $ 4,450,419
           

Exercisable at end of period

   878,351     $ 14.56    $ 4,450,419
           

The total intrinsic value of options exercised during the three months ended June 30, 2008 and 2007 was $1.0 million and $149,000, respectively, and $2.3 million and $1.7 million during the nine months ended June 30, 2008 and 2007, respectively. The aggregate intrinsic value represents the total pretax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the second quarter of fiscal 2008 and the exercise price, multiplied by the number of shares subject to in-the-money options) that would have been received by the option holders had all option holders exercised their options on June 30, 2008. This amount changes based on the fair market value of the Company’s stock.

 

19


Table of Contents
This excerpt taken from the ARBA 10-Q filed May 7, 2008.

Stock-Based Compensation Plans

A summary of the activity related to the Company’s restricted common stock is presented below for the six months ended March 31, 2008:

 

     Six Months Ended
March 31, 2008
     Number of
Shares
    Weighted-
Average
Fair
Value

Nonvested at beginning of period

   6,396,580     $ 8.33

Granted

   3,065,983     $ 11.31

Vested

   (1,606,735 )   $ 9.83

Forfeited

   (577,083 )   $ 9.26
        

Nonvested at end of period

   7,278,745     $ 9.16
        

The fair value of stock awards vested was $8.7 million and $6.6 million for the three months ended March 31, 2008 and 2007, respectively, and $16.3 million and $14.1 million for the six months ended March 31, 2008 and 2007, respectively.

A summary of the activity related to the Company’s stock options is presented below:

 

     Six Months Ended
March 31, 2008
     Number of
Options
    Weighted-
Average
Exercise
Price
   Aggregate
Intrinsic
Value

Outstanding at beginning of period

   1,273,285     $ 12.76   

Granted

   —       $ —     

Exercised

   (194,488 )   $ 4.64   

Forfeited

   (37,646 )   $ 31.59   
           

Outstanding at end of period

   1,041,151     $ 13.57    $ 1,842,000
           

Exercisable at end of period

   1,041,151     $ 13.57    $ 1,842,000
           

 

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The total intrinsic value of options exercised during the three months ended March 31, 2008 and 2007 was $311,000 and $948,000, respectively, and $1.2 million and $1.5 million during the six months ended March 31, 2008 and 2007, respectively. The aggregate intrinsic value represents the total pretax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the second quarter of fiscal 2008 and the exercise price, multiplied by the number of shares subject to in-the-money options) that would have been received by the option holders had all option holders exercised their options on March 31, 2008. This amount changes based on the fair market value of the Company’s stock.

This excerpt taken from the ARBA 10-Q filed Feb 6, 2008.

Stock-Based Compensation Plans

A summary of the activity related to the Company’s restricted common stock is presented below for the three months ended December 31, 2007:

 

     Three Months Ended
December 31, 2007
     Number of
Shares
    Weighted-
Average

Fair
Value

Nonvested at beginning of period

   6,396,580     $ 8.33

Granted

   2,432,850     $ 11.78

Vested

   (660,548 )   $ 10.21

Forfeited

   (304,257 )   $ 7.69
        

Nonvested at end of period

   7,864,625     $ 9.26
        

The fair value of stock awards vested was $7.6 million for each of the three months ended December 31, 2007 and 2006, respectively.

A summary of the activity related to the Company’s stock options is presented below:

 

     Three Months Ended
December 31, 2007
     Number of
Options
    Weighted-
Average
Exercise
Price
   Aggregate
Intrinsic
Value

Outstanding at beginning of period

   1,273,285     $ 12.76   

Granted

   —       $ —     

Exercised

   (128,063 )   $ 5.48   

Forfeited

   (18,416 )   $ 40.74   
           

Outstanding at end of period

   1,126,806     $ 13.19    $ 3,383,000
           

Exercisable at end of period

   1,126,806     $ 13.19    $ 3,383,000
           

The total intrinsic value of options exercised during the three months ended December 31, 2007 and 2006 was $866,000 and $570,000, respectively. The aggregate intrinsic value represents the total pretax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the first quarter of fiscal 2008 and the exercise price, multiplied by the number of shares subject to in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2007. This amount changes based on the fair market value of the Company’s stock.

 

17


Table of Contents
This excerpt taken from the ARBA 10-Q filed Aug 8, 2007.

Stock-Based Compensation Plans

A summary of the activity related to the Company’s restricted common stock is presented below for the nine months ended June 30, 2007:

 

     Nine Months Ended
June 30, 2007
     Number of
Shares
   

Weighted-
Average

Fair

Value

Nonvested at beginning of period

   7,543,632     $ 7.98

Granted

   2,757,929     $ 8.53

Vested

   (1,805,429 )   $ 9.71

Forfeited

   (431,622 )   $ 6.86
        

Nonvested at end of period

   8,064,510     $ 7.85
        

The fair value of stock awards vested was $1.8 million and $1.0 million for the three months ended June 30, 2007 and 2006, respectively and $16.0 million and $6.2 million for the nine months ended June 30, 2007 and 2006, respectively.

 

16


A summary of the activity related to the Company’s stock options is presented below:

 

    

Nine Months Ended

June 30, 2007

     Number of
Options
    Weighted-
Average
Exercise
Price
   Aggregate
Intrinsic
Value

Outstanding at beginning of period

   1,946,852     $ 11.95   

Granted

   —       $ —     

Exercised

   (453,140 )   $ 5.27   

Forfeited

   (154,221 )   $ 26.05   
           

Outstanding at end of period

   1,339,491     $ 12.58    $ 3,274,000
           

Exercisable at end of period

   1,339,491     $ 12.58    $ 3,274,000
           

The weighted-average grant date fair value of options granted during the nine months ended June 30, 2006 was $4.30. The total intrinsic value of options exercised during the three months ended June 30, 2007 and 2006 was $149,000 and $17,000, respectively, and $1.7 million and $520,000 during the nine months ended June 30, 2007 and 2006, respectively. The aggregate intrinsic value represents the total pretax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the third quarter of fiscal 2007 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on June 30, 2007. This amount changes based on the fair market value of the Company’s stock.

This excerpt taken from the ARBA 10-Q filed May 9, 2007.

Stock-Based Compensation Plans

A summary of the activity related to the Company’s restricted common stock is presented below for the six months ended March 31, 2007:

 

     Six Months Ended
March 31, 2007
     Number of
Shares
   

Weighted-
Average

Fair

Value

Nonvested at beginning of period

   7,543,632     $ 7.98

Granted

   2,583,404     $ 8.47

Vested

   (1,595,807 )   $ 10.04

Forfeited

   (338,497 )   $ 6.68
        

Nonvested at end of period

   8,192,732     $ 7.79
        

The fair value of stock awards vested was $6.6 million and $719,000 for the three months ended March 31, 2007 and 2006, respectively and $14.1 million and $5.2 million for the six months ended March 31, 2007 and 2006, respectively.

A summary of the activity related to the Company’s stock options is presented below:

 

     Six Months Ended
March 31, 2007
     Number of
Options
    Weighted-
Average
Exercise
Price
   Aggregate
Intrinsic
Value

Outstanding at beginning of period

   1,946,852     $ 11.95   

Granted

   —       $ —     

Exercised

   (398,213 )   $ 5.11   

Forfeited

   (140,452 )   $ 27.33   
           

Outstanding at end of period

   1,408,187     $ 12.34    $ 3,038,000
           

Exercisable at end of period

   1,408,187     $      $ 3,038,000
           

The weighted-average grant date fair value of options granted during the six months ended March 31, 2006 was $4.30. The total intrinsic value of options exercised during the three months ended March 31, 2007 and 2006 was $948,000 and $287,000, respectively, and $1.5 million and $503,000 during the six months ended March 31, 2007 and 2006, respectively. The aggregate intrinsic value represents the total pretax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the first quarter of fiscal 2007 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on March 31, 2007. This amount changes based on the fair market value of the Company’s stock.

 

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