CHK » Topics » Aggregated Option Exercises in 2005 and December 31, 2005 Option Values

This excerpt taken from the CHK DEF 14A filed Apr 28, 2006.

Aggregated Option Exercises in 2005 and December 31, 2005 Option Values

No stock options were granted to executive officers in 2005. The following table sets forth information about options exercised by the named executive officers during 2005 and the unexercised options to purchase common stock held by them at December 31, 2005.

 

Name

  Shares
Acquired
On Exercise
  Value
Realized(a)
  Number of Securities
Underlying Unexercised
Options at 12/31/05
 

Value of Unexercised
In-the-Money

Options at 12/31/05(b)

      Exercisable   Unexercisable   Exercisable   Unexercisable

Aubrey K. McClendon(c)

  800,960   $ 15,803,638   3,581,380   908,910   $ 91,921,177   $ 21,596,716

Tom L. Ward (d)

  —     $ —     6,906,898   908,910   $ 189,931,059   $ 21,596,716

Marcus C. Rowland

  124,240   $ 2,294,026   22,500   104,998   $ 576,450   $ 2,492,102

Martha A. Burger

  22,465   $ 535,693   330,084   54,916   $ 8,901,369   $ 1,295,131

Michael A. Johnson

  12,500   $ 259,150   61,250   41,250   $ 1,552,738   $ 969,963

(a) Represents amounts determined by subtracting the aggregate exercise price of such options from the aggregate market value of the underlying shares of common stock on the exercise date.
(b) At December 31, 2005, the closing price of a share of our common stock on the New York Stock Exchange was $31.73. “In-the-money options” are stock options with respect to which the market value of the underlying shares of common stock exceeded the exercise price at December 31, 2005. The values shown were determined by subtracting the aggregate exercise price of such options from the aggregate market value of the underlying shares of common stock on December 31, 2005.
(c) The 800,960 shares acquired by Mr. McClendon and 16,365 shares acquired by Ms. Burger upon exercise of stock options are part of each executive’s current common stock holdings.
(d) Mr. Ward exercised all 7,815,808 of his outstanding stock options on March 14, 2006.
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