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This excerpt taken from the PRXL 10-Q filed May 8, 2009. NOTE 5 – STOCK-BASED COMPENSATION We account for stock-based compensation according to SFAS No. 123(R), “Share-Based Payment.” The compensation expense recognized in the three and nine months ended March 31, 2009 and 2008 is presented in the following table.
This excerpt taken from the PRXL 10-Q filed Feb 9, 2009. NOTE 5 – STOCK-BASED COMPENSATION We account for stock-based compensation according to SFAS No. 123(R), “Share-Based Payment.” The compensation expense recognized in the three and six months ended December 31, 2008 and 2007 is presented in the following table.
This excerpt taken from the PRXL 10-Q filed Nov 7, 2008. NOTE 5 – STOCK-BASED COMPENSATION PAREXEL accounts for stock-based compensation according to SFAS No. 123(R), “Share-Based Payment.” The compensation expense recognized in the three months ended September 30, 2008 and 2007 is presented in the following table.
This excerpt taken from the PRXL 10-K filed Aug 28, 2008. Stock-Based Compensation Effective July 1, 2005, we adopted SFAS No. 123(R) “Share-Based Payment” (“SFAS No. 123(R)”) under the modified prospective method as described in SFAS No. 123(R). Under this transition method, compensation expense recognized in the year ended June 30, 2006 included compensation expense for all stock-based payments granted during the fiscal year ended June 30, 2006 and for all stock-based payments granted prior to, but not yet vested as of July 1, 2005, based on the grant date fair value estimated in accordance with the original provisions of SFAS No. 123. Accordingly, prior period financials were not restated. The stock option compensation cost calculated under the fair value approach is recognized on a pro rata basis over the vesting period of the stock options (averaged over four years). All stock option grants are subject to graded vesting as services are rendered. The fair value for granted options was estimated at the time of the grant using the Black-Scholes option-pricing model. Expected volatilities are based on implied and historical volatilities and PAREXEL uses historical data to estimate option exercise behavior. The following assumptions were used in the Black-Scholes option-pricing model for awards issued during the respective periods:
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Table of ContentsThe compensation cost of the restricted stock is calculated under the Monte Carlo simulation modeling method for valuing a contingent claim on stock with characteristics that depend on the trailing stock price path. For the last three fiscal years, we recognized the following stock-based compensation expense:
As of June 30, 2008, unearned stock-based compensation expense related to unvested awards (stock options and restricted stock) was approximately $11.5 million, which will be recognized over a weighted-average period of two years. This excerpt taken from the PRXL 10-Q filed May 9, 2008. NOTE 5 – STOCK-BASED COMPENSATION The Company accounts for stock-based compensation according to SFAS No. 123(R), “Share-Based Payment.” The compensation expense recognized in the three and nine months ended March 31, 2008 and 2007 is presented in the following table.
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