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This excerpt taken from the SIRI 10-K filed Mar 13, 2006. Equity Granted to Third Parties and Employees. Equity granted to third parties and employees expense for warrants increased $74,255 to $74,700 for the year ended December 31, 2004 from $445 for the year ended December 31, 2003. The increase was primarily attributable to expense associated with vesting events for warrants granted pursuant to various distribution and programming agreements and media assets provided to us under the NFL agreement. The remaining increase in expense associated with warrants for the year ended December 31, 2004 was accrued based on certain third parties’ performance toward achieving milestones.
Equity granted to third parties and employees expense for stock options, restricted stock, restricted stock units and other stock-based awards increased $36,102 to $47,740 for the year ended December 31, 2004 from $11,638 for the year ended December 31, 2003. The increase was primarily attributable to expense associated with vesting events for awards granted to consultants; the issuance of stock-based awards to employees and members of our board of directors, which included a combination of stock options with exercise prices below fair market value at the date of grant and restricted stock units; and common stock granted to employee benefit plans. Of this expense, $5,706 resulted from the accelerated vesting of stock options upon the satisfaction of performance criteria in 2004. The remaining increase in expense associated with stock options, restricted stock, restricted stock units and other stock-based awards for the year ended December 31, 2004 was primarily accrued based on certain consultants’ performance toward achieving milestones. Equity granted to third parties and employees expense for the year ended December 31, 2004 also included $4,285 of expense associated with the 15,173,070 shares of our common stock granted to the NFL upon signing a seven-year agreement with the NFL.
This excerpt taken from the SIRI 10-Q filed Aug 3, 2005. Equity Granted to Third Parties and Employees. Equity granted to third parties and employees expense for warrants increased $30,646 to $46,024 for the six months ended June 30, 2005 from $15,378 for the six months ended June 30, 2004. This increase is primarily attributable to expense accrued based on certain distribution partners' performance toward achieving eligible vehicle, subscriber activation and delivery milestones. In addition, we also recognized approximately $5,000 of higher expense associated with performance based vesting events for warrants granted pursuant to various distribution and programming agreements.
Equity granted to third parties and employees expense for stock options, restricted stock, restricted stock units and other stock-based awards increased $17,815 to $32,052 for the six months ended June 30, 2005 from $14,237 for the six months ended June 30, 2004. The increase was primarily attributable to expense associated with restricted stock units which accelerate to earlier periods as performance targets for fiscal periods are met, grants of stock-based awards, and modifications of existing stock-based awards. The remaining increase was primarily related to expense accrued for 2005 profit sharing and for restricted stock units we expect to grant for services performed in 2005. Such increases were offset in part by lower expense associated with 2004 performance options that vested in March 2005. Equity granted to third parties and employees expense for the six months ended June 30, 2005 and 2004 also included $1,860 and $293, respectively, of expense associated with the 15,173,070 shares of our common stock granted to the NFL.
This excerpt taken from the SIRI 10-Q filed May 9, 2005. Equity Granted to Third Parties and Employees. Equity granted to third parties and employees expense includes the costs associated with warrants, stock options, restricted stock, restricted stock units and other stock-based awards granted to third parties pursuant to programming, sales and marketing and distribution agreements; employees; members of our board of directors; consultants and employee benefit plans.
Equity granted to third parties and employees expense for warrants increased $12,225 to $21,496 for the three months ended March 31, 2005 from $9,271 for the three months ended March 31, 2004. Of this increase, approximately $5,000 was attributable to higher expense associated with vesting events for warrants granted pursuant to various distribution and programming arrangements. The remaining increase in expense associated with warrants was accrued based on certain third parties’ performance toward achieving milestones. This expense may change in future periods as a result of price changes in our common stock. Equity granted to third parties and employees expense for stock options, restricted stock, restricted stock units and other stock-based awards increased $7,504 to $15,569 for the three months ended March 31, 2005 from $8,065 for the three months ended March 31, 2004. The increase was primarily attributable to expense associated with 2005 performance options. The remaining increase in expense associated with stock options, restricted stock, restricted stock units and other stock-based awards for the three months ended March 31, 2005 was primarily accrued for profit sharing and for restricted stock units expected to be granted in February 2006 for 2005 services performed. Equity granted to third parties and employees expense for the three months ended March 31, 2005 and 2004 also included $1,641 and $488, respectively, of expense associated with the 15,173,070 shares of our common stock granted to the NFL upon signing the agreement. Future expense associated with equity granted to third parties and employees is contingent upon a number of factors, including the price of our common stock, valuation assumptions, vesting provisions and the timing as to when certain performance criteria are met, and could materially change. Beginning January 1, 2006, we are required to adopt Statement of Financial Accounting Standard (“SFAS”) No. 123R, “Share-Based Payment.” We plan to adopt SFAS No. 123R using the modified prospective method. This method requires that we recognize compensation expense for all share-based payments granted on or after January 1, 2006 and for all awards granted to employees prior to January 1, 2006 that remain unvested on January 1, 2006. The adoption of SFAS No. 123R is expected to have a material impact on our equity granted to third parties and employees expense included on our consolidated statements of operations, although such impact cannot be predicted at this time because it will depend on share-based payments granted in the future. This excerpt taken from the SIRI 10-K filed Mar 16, 2005. Equity Granted to Third Parties and Employees. Equity granted to third parties and employees expense for warrants increased $425 to $445 for the year ended December 31, 2003 from $20 for the year ended December 31, 2002. The increase was primarily attributable to $239 for expense associated with vesting events for certain distribution arrangements. The remaining increase was accrued based on certain third parties' performance toward achieving milestones.
Equity granted to third parties and employees expense for stock options, restricted stock, restricted stock units and other stock-based awards was $11,638 for the year ended December 31, 2003 compared to a benefit of $7,738 for the year ended December 31, 2002. Expense for the year ended December 31, 2003 primarily related to the issuance of stock options with exercise prices below fair market value at the date of grant and restricted stock units to employees, of which $5,251 resulted from the accelerated vesting of stock options upon the satisfaction of performance criteria in 2003. The benefit for the year ended December 31, 2002 was principally due to the repricing of certain employee stock options in 2001. 35
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