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Equity Incentive Plans and Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2011
Equity Incentive Plans and Stock-Based Compensation  
Shares available for grant under stock-based incentive plans

 

 

 

 

Shares Available
for Grant

 

Shares available as of December 31, 2010

 

5,348,162

 

Stock options granted

 

(1,712,211

)

Stock options forfeited

 

447,417

 

Stock options expired under former plans

 

(262,716

)

Nonvested equity stock and stock units granted (1)

 

(320,331

)

Nonvested equity stock and stock units forfeited (1)

 

22,401

 

Total available for grant as of June 30, 2011

 

3,522,722

 

 

(1)          For purposes of determining the number of shares available for grant under the 2006 Plan against the maximum number of shares authorized, each restricted stock granted reduces the number of shares available for grant by 1.5 shares and each restricted stock forfeited increases shares available for grant by 1.5 shares.

Schedule of stock option activity

 

 

 

 

Options Outstanding

 

Weighted

 

 

 

 

 

 

 

Weighted

 

Average

 

 

 

 

 

 

 

Average

 

Remaining

 

Aggregate

 

 

 

Number of

 

Exercise Price

 

Contractual

 

Intrinsic

 

 

 

Shares

 

Per Share

 

Term(in years)

 

Value

 

 

 

(Dollars in thousands, except per share amounts)

 

Outstanding as of December 31, 2010

 

13,969,383

 

$

18.85

 

 

 

 

 

Options granted

 

1,712,211

 

20.71

 

 

 

 

 

Options exercised

 

(478,974

)

10.29

 

 

 

 

 

Options forfeited

 

(447,417

)

11.48

 

 

 

 

 

Outstanding as of June 30, 2011

 

14,755,203

 

19.57

 

5.61

 

$

14,793

 

Vested or expected to vest at June 30, 2011

 

14,209,999

 

19.56

 

5.49

 

14,406

 

Options exercisable at June 30, 2011

 

10,199,075

 

19.76

 

4.36

 

10,787

Weighted-average assumptions for Stock Option Plans

 

 

 

 

Stock Option Plans

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Stock Option Plans

 

 

 

 

 

 

 

 

 

Expected stock price volatility

 

50

%

69

%

50-52%

 

61-69%

 

Risk free interest rate

 

2.6

%

3.2

%

2.6-2.8%

 

2.4-3.2%

 

Expected term (in years)

 

6.1

 

6.1

 

6.0 - 6.1

 

5.9 – 6.1

 

Weighted-average fair value of stock options granted

 

$

8.58

 

$

14.38

 

$

10.71

 

$

13.27

Weighted-average assumptions for Employee Stock Purchase Plan

 

 

 

Employee Stock Purchase Plan

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Employee Stock Purchase Plan

 

 

 

 

 

 

 

 

 

Expected stock price volatility

 

56

%

54

%

56

%

54

%

Risk free interest rate

 

0.1

%

0.3

%

0.1

%

0.3

%

Expected term (in years)

 

0.5

 

0.5

 

0.5

 

0.5

 

Weighted-average fair value of purchase rights granted under the purchase plan

 

$

5.96

 

$

7.46

 

$

5.96

 

$

7.46

 

Activity related to nonvested equity stock and stock units

 

 

Nonvested Equity Stock and Stock Units

 

Shares

 

Weighted-
Average
Grant-Date
Fair Value

 

Nonvested at December 31, 2010

 

718,007

 

$

18.23

 

Granted

 

213,554

 

20.86

 

Vested

 

(147,197

)

17.30

 

Forfeited

 

(14,934

)

21.76

 

Nonvested at June 30, 2011

 

769,430

 

19.07