This excerpt taken from the WRSP 10-K filed Mar 31, 2006.
Equity Compensation Plan Information
In addition to share issuance and equity corporate plans, our predecessor, WorldSpace, Inc., a Maryland company (WorldSpace Maryland) issued options from time to time. Pursuant to a reorganization and recapitalization of our company in December 2004, any options to purchase shares of WorldSpace MD remained outstanding as of December 30, 2004 were converted at an exchange ratio of 1 to 1 into options to purchase our Class A Common Stock. All granted options to acquire 3,506,151 shares of WorldSpace Maryland were converted into options to acquire 3,506,151 shares of our Class A Common Stock at a weighted average of $3.47 per share.
We have two compensation plans under which our equity securities have been authorized for issuance and have been issued to employees and to non-employee directors. These plans are described below.