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This excerpt taken from the AN DEF 14A filed Mar 23, 2009. Stock-Based
Awards
In certain cases upon a termination or change in control, the
vesting of unvested stock options and shares of restricted stock
is accelerated. To determine the value of unvested stock options
that would accelerate in such cases, we calculated the
difference between (1) the exercise price of the unvested
stock options that would accelerate and (2) the closing
price per share of our common stock on December 31, 2008,
which was $9.88. To determine the market value of unvested
shares of restricted stock that would accelerate in such cases,
we multiplied (x) the number of unvested shares of
restricted stock that would accelerate by (y) $9.88.
As of December 31, 2008, all unvested stock options held by
our named executive officers had an exercise price higher than
$9.88. Accordingly, even though in certain cases unvested stock
options held by our named executive officers would accelerate as
discussed below, no value is attributed to such acceleration.
Since vested stock options are already exercisable upon
termination (except in the case of a termination for
“cause”), no value is attributable in the tables to
the extension of the exercise period for such vested options.
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