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This excerpt taken from the SIRI 10-Q filed Nov 1, 2007. Stock-Based Awards
In January 2003, our board of directors adopted the Sirius Satellite Radio 2003 Long-Term Stock Incentive Plan (the “2003 Plan”), and on March 4, 2003 our stockholders approved this plan. On May 25, 2004, our stockholders approved an amendment to the 2003 Plan to include members of our board of directors as eligible participants. Employees, consultants and members of our board of directors are eligible to receive awards under the 2003 Plan. The 2003 Plan provides for the grant of stock options, restricted stock, restricted stock units and other stock-based awards that the compensation committee of our board of directors may deem appropriate. Vesting and other terms of stock-based awards are set forth in the agreements with the individuals receiving the awards. Stock-based awards granted under the 2003 Plan are generally subject to a vesting requirement that includes one or all of the following: (1) over time, generally three to five years from the date of grant; (2) on a specific date in future periods, with acceleration to earlier periods if performance criteria are satisfied; or (3) as certain performance targets set at the time of grant are achieved. Stock-based awards generally expire ten years from the date of grant. Each restricted stock unit entitles the holder to receive one share of our common stock upon vesting. As of September 30, 2007, approximately 85,858,000 stock options, shares of restricted stock and restricted stock units were outstanding. As of September 30, 2007, approximately 72,952,000 shares of our common stock were available for grant under the 2003 Plan. 16
SIRIUS SATELLITE RADIO INC. AND SUBSIDIARIES The following table summarizes stock option activity under our stock incentive plans for the nine months ended September 30, 2007 (shares in thousands):
The weighted average grant date fair value of options granted during the nine months ended September 30, 2007 and 2006 was $1.88 and $3.11, respectively. The total intrinsic value of stock options exercised during the nine months ended September 30, 2007 and 2006 was $1,792 and $9,264, respectively. We recognized stock-compensation expense associated with stock options of $10,323 and $10,812 for the three months ended September 30, 2007 and 2006, respectively, and $31,614 and $38,514 for the nine months ended September 30, 2007 and 2006, respectively. The following table summarizes the non-vested restricted stock unit activity under our stock incentive plans for the nine months ended September 30, 2007 (shares in thousands):
The weighted average grant date fair value of restricted stock units granted during the nine months ended September 30, 2007 and 2006 was $3.58 and $5.57, respectively. The total intrinsic value of restricted stock units that vested during the nine months ended September 30, 2007 and 2006 was $8,667 and $97,423, respectively. We recognized stock compensation expense associated with restricted stock units and shares of restricted stock of $2,219 and $3,095 for the three months ended September 30, 2007 and 2006, respectively, and $8,436 and $13,272 for the nine months ended September 30, 2007 and 2006, respectively. For the three and nine months ended September 30, 2007, we also recognized stock compensation expense of $1,282 and $3,687 for restricted stock units expected to be granted for services performed in 2007. For the three and nine months ended September 30, 2006, we recognized stock compensation expense of $21,838 and $65,183, respectively, for restricted stock units and common stock granted in 2006 for services performed in 2006 or upon the satisfaction of 2006 performance targets.
This excerpt taken from the SIRI 10-Q filed Aug 9, 2007. Stock-Based Awards
In January 2003, our board of directors adopted the Sirius Satellite Radio 2003 Long-Term Stock Incentive Plan (the “2003 Plan”), and on March 4, 2003 our stockholders approved this plan. On May 25, 2004, our stockholders approved an amendment to the 2003 Plan to include members of our board of directors as eligible participants. Employees, consultants and members of our board of directors are eligible to receive awards under the 2003 Plan. The 2003 Plan provides for the grant of stock options, restricted stock, restricted stock units and other stock-based awards that the compensation committee of our board of directors may deem appropriate. Vesting and other terms of stock-based awards are set forth in the agreements with the individuals receiving the awards. Stock-based awards granted under the 2003 Plan are generally subject to a vesting requirement that includes one or all of the following: (1) over time, generally three to five years from the date of grant; (2) on a specific date in future periods, with acceleration to earlier periods if performance criteria are satisfied; or (3) as certain performance targets set at the time of grant are achieved. Stock-based awards generally expire ten years from the date of grant. Each restricted stock unit entitles the holder to receive one share of our common stock upon vesting. As of June 30, 2007, approximately 86,563,000 stock options, shares of restricted stock and restricted stock units were outstanding. As of June 30, 2007, approximately 72,996,000 shares of our common stock were available for grant under the 2003 Plan. 16
SIRIUS SATELLITE RADIO INC. AND SUBSIDIARIES The following table summarizes stock option activity under our stock incentive plans for the six months ended June 30, 2007 (shares in thousands):
The weighted average grant date fair value of options granted during the six months ended June 30, 2007 and 2006 was $1.89 and $3.22 respectively. The total intrinsic value of stock options exercised during the six months ended June 30, 2007 and 2006 was $1,136 and $6,841, respectively. We recognized stock-compensation expense associated with stock options of $10,596 and $14,156 for the three months ended June 30, 2007 and 2006, respectively, and $21,290 and $27,701 for the six months ended June 30, 2007 and 2006, respectively. The following table summarizes the non-vested restricted stock unit activity under our stock incentive plans for the six months ended June 30, 2007 (shares in thousands):
The weighted average grant date fair value of restricted stock units granted during the six months ended June 30, 2007 and 2006 was $3.58 and $4.68, respectively. The total intrinsic value of restricted stock units that vested during the six months ended June 30, 2007 and 2006 was $7,764 and $97,423, respectively. We recognized stock compensation expense associated with restricted stock units and shares of restricted stock of $2,519 and $3,260 for the three months ended June 30, 2007 and 2006, respectively, and $6,217 and $10,177 for the six months ended June 30, 2007 and 2006, respectively. For the three and six months ended June 30, 2007, we also recognized stock compensation expense of $1,226 and $2,404 for restricted stock units expected to be granted for services performed in 2007. For the three and six months ended June 30, 2006, we recognized stock compensation expense of $21,764 and $43,345, respectively, for restricted stock units and common stock granted in 2006 for services performed in 2006 or upon the satisfaction of 2006 performance targets.
This excerpt taken from the SIRI 10-Q filed May 10, 2007. Stock-Based Awards
In January 2003, our board of directors adopted the Sirius Satellite Radio 2003 Long-Term Stock Incentive Plan (the “2003 Plan”), and on March 4, 2003 our stockholders approved this plan. On May 25, 2004, our stockholders approved an amendment to the 2003 Plan to include members of our board of directors as eligible participants. Employees, consultants and members of our board of directors are eligible to receive awards under the 2003 Plan. The 2003 Plan provides for the grant of stock options, restricted stock, restricted stock units and other stock-based awards that the compensation committee of our board of directors may deem appropriate. Vesting and other terms of stock-based awards are set forth in the agreements with the individuals receiving the awards. Stock-based awards granted under the 2003 Plan are generally subject to a vesting requirement that includes one or all of the following: (1) over time, generally three to five years from the date of grant; (2) on a specific date in future periods, with acceleration to earlier periods if performance criteria are satisfied; or (3) as certain performance targets set at the time of grant are achieved. Stock-based awards generally expire ten years from the date of grant. Each restricted stock unit entitles the holder to receive one share of our common stock upon vesting. As of March 31, 2007, approximately 86,213,000 stock options, shares of restricted stock and restricted stock units were outstanding. As of March 31, 2007, approximately 74,235,000 shares of our common stock were available for grant under the 2003 Plan. The following table summarizes stock option activity under our stock incentive plans for the three months ended March, 31 2007 (shares in thousands):
The weighted average grant date fair value of options granted during the three months ended March 31, 2007 and 2006 was $1.96 and $3.08, respectively. The total intrinsic value of stock options exercised during the three months ended March 31, 2007 and 2006 was $716 and $3,884, respectively. We recognized stock-compensation expense associated with stock options of $10,694 and $13,545 for the three months ended March 31, 2007 and 2006, respectively. 16
SIRIUS SATELLITE RADIO INC. AND SUBSIDIARIES The following table summarizes the non-vested restricted stock unit activity under our stock incentive plans for the three months ended March 31, 2007 (shares in thousands):
The weighted average grant date fair value of restricted stock units granted during the three months ended March 31, 2007 and 2006 was $3.70 and $5.73, respectively. The total intrinsic value of restricted stock units that vested during the three months ended March 31, 2007 and 2006 was $5,864 and $90,284, respectively. We recognized stock compensation expense associated with restricted stock units and shares of restricted stock of $3,698 and $6,917 for the three months ended March 31, 2007 and 2006, respectively. For the three months ended March 31, 2007, we also recognized stock compensation expense of $1,178 for restricted stock units expected to be granted for services performed in 2007. For the three months ended March 31, 2006, we recognized stock compensation expense of $21,581 for restricted stock units and common stock granted in 2007 for services performed in 2006 or upon the satisfaction of 2006 performance targets.
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