PXG » Topics » Equity Compensation Plan Information

This excerpt taken from the PXG 10-K filed Apr 20, 2009.

Equity Compensation Plan Information

 

      Number of securities to be
issued upon
exercise of outstanding
options, warrants & rights
   Weighted average
exercise price of
outstanding options,
warrants & rights
   Number of securities
remaining available for
future issuance under
equity compensation plans
(excluding(a))
   (In thousands, except per share amounts)
              
Plan Category    (a)    (b)    (c)

Equity compensation plans approved by stockholders

        

Stock Options(1)

   410    $ 7.03   

Restricted Stock Rights(2)

   855      N/A   
          
   1,265       1,061

Equity compensation plans not approved by stockholders(3)

   448    $ 3.51    —  
                

Total

   1,713    $ 5.58    1,061
                

 

(1) Consists of the following plans: 2001 Long-Term Incentive Plan and the 1995 Stock Incentive Plan. No further shares are available for grant under the 1995 Stock Incentive Plan at January 3, 2009. The 2001 Long-Term Incentive Plan permits the award of stock options, restricted stock and various other stock-based awards.

 

(2) Includes 830,000 shares of common stock issuable upon the achievement of performance targets and 25,000 shares of common stock issuable upon the achievement of service milestones. The restricted stock rights do not have an exercise price.

 

(3) Consists of options to purchase 398,000 shares of common stock granted to James R. Riedman and Riedman Corporation at a weighted average exercise price of $2.07 per share in connection with financial guaranties and loans granted to us and outstanding underwriter warrants to purchase up to 50,000 shares at an exercise price of $15.00 per share issued in July 2004 in connection with our follow-on public offering.

We did not make any repurchases of our common stock during fiscal 2008.

 

Item 6. Selected Financial Data

Because we are a smaller reporting company, we are not required to provide the information required by this Item.

 

Item 7. Management Discussion and Analysis of Financial Condition and Results of Operation

The following discussion should be read in conjunction with the historical consolidated financial statements and the related notes and the other financial information included elsewhere in this Annual Report on Form 10-K. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of any number of factors, including those set forth under “Risk Factors” and under other captions contained elsewhere in this Annual Report on Form 10-K.

Effective January 1, 2003, we changed our operating and reporting period to a 52-53 week fiscal year ending on the Saturday nearest to December 31. The Company refers to the fiscal year ended December 29, 2007 as “fiscal 2007,” to the fiscal year ended January 3, 2009 as “fiscal 2008,” and to the fiscal year ending

 

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January 2, 2010 as “fiscal 2009.” The 52-week fiscal years consist of four equal quarters of 13 weeks each, and our 53-week fiscal years consist of three 13-week fiscal quarters and one 14-week fiscal quarter. The financial results for our 53-week fiscal years and 14-week fiscal quarters will not be exactly comparable to our 52-week fiscal years and 13-week fiscal quarters. Fiscal 2007 and fiscal 2009 each include 52 weeks and fiscal 2008 includes 53 weeks.

This excerpt taken from the PXG 10-K filed Apr 14, 2008.

Equity Compensation Plan Information

 

     Number of securities to be
issued upon
exercise of outstanding
options, warrants & rights
   Weighted average
exercise price of
outstanding options,
warrants & rights
   Number of securities
remaining available for
future issuance under
equity compensation plans
(excluding(a))
     (In thousands, except per share amounts)
                 
Plan Category    (a)    (b)    (c)

Equity compensation plans approved by stockholders

        

Stock Options(1)

   644    $ 7.01    1,084

Performance Based Stock Rights(2)

   598      N/A   
          
   1,242      

Equity compensation plans not approved by stockholders(3)

   448    $ 3.51    —  
                

Total

   1,690    $ 5.57    1,084
                

 

(1) Consists of the following plans: 2001 Long-Term Incentive Plan and the 1995 Stock Incentive Plan. No further shares are available for grant under the 1995 Stock Incentive Plan at December 29, 2007. The 2001 Long-Term Incentive Plan permits the award of stock options, restricted stock and various other stock-based awards.

 

(2) Includes 598,000 shares of common stock issuable upon the achievement of performance targets. The performance-based stock rights do not have an exercise price.

 

(3) Consists of options to purchase 398,000 shares of common stock granted to James R. Riedman and Riedman Corporation at a weighted average exercise price of $2.07 per share in connection with financial guaranties and loans granted to us and outstanding underwriter warrants to purchase up to 50,000 shares at an exercise price of $15.00 per share issued in July 2004 in connection with our follow-on public offering.

We did not make any repurchases of our common stock during fiscal 2007.

 

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with the historical consolidated financial statements and the related notes and the other financial information included elsewhere in this Annual Report on Form 10-K. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of any number of factors, including those set forth under “Risk Factors” and under other captions contained elsewhere in this Annual Report on Form 10-K.

Effective January 1, 2003, we changed our accounting year to a 52/53 week period. Our annual accounting period ends on the Saturday nearest to December 31. In this Annual Report on Form 10-K we refer to the fiscal year ended December 30, 2006 as “fiscal 2006,” to the fiscal year ended December 29, 2007 as “fiscal 2007,” and to the fiscal year ending January 3, 2009 as “fiscal 2008.”

This excerpt taken from the PXG 10-K filed Apr 5, 2007.

Equity Compensation Plan Information

 

    

Number of securities

to be issued upon

exercise of outstanding
options, warrants & rights

  

Weighted average

exercise price of

outstanding options,

warrants & rights

  

Number of securities

remaining available for

future issuance under

equity compensation plans

     (In Thousands except per share)
                 
Plan Category    (a)    (b)   

(excluding(a)

(c)

Equity compensation plans approved by stockholders

        

Stock Options(1)

   668    $ 7.00    1,260

Performance Based Stock Rights(2)

   399      N/A   
          
   1,067      

Equity compensation plans not approved by stockholders(3)

   448    $ 3.51    —  
                

Total

   1,515    $ 5.60    1,260
                

(1) Consists of the following plans: 2001 Long-Term Incentive Plan and the 1995 Stock Incentive Plan. No further shares are available for grant under the 1995 Stock Incentive Plan at December 30, 2006. The 2001 Long-Term Incentive Plan permits the award of stock options, restricted stock and various other stock-based awards.

 

(2) Includes 399,000 shares of common stock issuable upon the achievement of performance targets. The performance-based stock rights do not have an exercise price.

 

(3) Consists of options to purchase 398,000 shares of common stock granted to James R. Riedman and Riedman Corporation at a weighted average exercise price of $2.07 per share in connection with financial guaranties and loans granted to us and outstanding underwriter warrants to purchase up to 50,000 shares at an exercise price of $15.00 per share issued in July 2004 in connection with our follow-on public offering.

We did not make any repurchases of our common stock during fiscal 2006.

 

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