MIR » Topics » Stock Options

This excerpt taken from the MIR 10-Q filed May 8, 2008.

Stock Options

 

     Three Months Ended March 31,
             2008                    2007        

Number of stock options granted

     740,138      588,833

Weighted average exercise price

   $ 37.02    $ 37.71

Weighted average grant date fair value

   $ 9.50    $ 8.46

Number of stock options exercised

     172,910      68,545

Cash proceeds received from exercised options (in millions)

   $ 4    $ 2

Number of stock options unvested as of March 31, 2008

     2,468,601   

Number of stock options vested as of March 31, 2008

     2,379,010   

Aggregate intrinsic value of vested stock options (in millions)

   $ 24   

 

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Table of Contents
This excerpt taken from the MIR 8-K filed May 10, 2006.
Stock Options. For the first Plan Year only, each Eligible Participant received an award of $50,000 in value of Stock Options on January 13, 2006. The number of such Stock Options was determined as provided in Section 6.2(a) above and the Stock Options have the same terms and conditions as described in Section 6.2(b) above, except that, subject to any earlier vesting under the provisions of the Omnibus Incentive Plan in the case of a Change in Control, the such Stock Options will vest and become exercisable as to one-third of the shares on the first, second and third anniversaries of the date of grant or, if earlier, the termination of the optionee’s service as a director of the Company due to his or her death or Disability.

 

This excerpt taken from the MIR 8-K filed Jan 3, 2006.

Stock Options

 

The exercise price for each option may be determined by the Compensation Committee in its discretion but on the date of grant must be at least equal to 100% of the fair market value of the shares on the date of grant.    Each option shall expire at such time as the Compensation Committee shall determine at the time of grant, provided that no option shall be exercisable later than the 10th anniversary date of its grant.  Options shall be exercisable at such times and be subject to such restrictions and conditions as the Compensation Committee shall in each instance approve, which terms and restrictions need not be the same for each grant or for each recipient.  Each participant’s award agreement shall set forth the extent to which the participant shall have the right to exercise the option following termination of employment.

 

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