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Equity Incentive Plans and Stock-Based Compensation (Tables)
9 Months Ended
Sep. 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

 

(2,199,761

)

Stock options forfeited

 

770,903

 

Stock options expired under former plans

 

(471,913

)

Nonvested equity stock and stock units granted (1)

 

(440,331

)

Nonvested equity stock and stock units forfeited (1)

 

22,401

 

Total available for grant as of September 30, 2011

 

3,029,461

 

 

 

(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

 

 

 

 

 

Number of
Shares

 

Weighted
Average
Exercise Price
Per Share

 

Average
Remaining
Contractual
Term (in years)

 

Aggregate
Intrinsic
Value

 

 

 

(Dollars in thousands, except per share amounts)

 

Outstanding as of December 31, 2010

 

13,969,383

 

$

18.85

 

 

 

 

 

Options granted

 

2,199,761

 

19.27

 

 

 

 

 

Options exercised

 

(757,888

)

8.50

 

 

 

 

 

Options forfeited

 

(770,903

)

13.42

 

 

 

 

 

Outstanding as of September 30, 2011

 

14,640,353

 

19.74

 

5.67

 

$

10,378

 

Vested or expected to vest at September 30, 2011

 

14,098,821

 

19.77

 

5.55

 

10,063

 

Options exercisable at September 30, 2011

 

10,196,979

 

20.22

 

4.47

 

6,990

Weighted-average assumptions for Stock Option Plans

 

 

 

 

Stock Option Plans

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Stock Option Plans

 

 

 

 

 

 

 

 

 

Expected stock price volatility

 

75

%

60

%

50-75%

 

60-69%

 

Risk free interest rate

 

2.3

%

2.3

%

2.3-2.8%

 

2.3-3.2%

 

Expected term (in years)

 

6.1

 

6.1

 

6.0 - 6.1

 

5.9 – 6.1

 

Weighted-average fair value of stock options granted

 

$

9.48

 

$

10.88

 

$10.43

 

$13.15

 

Weighted-average assumptions for Employee Stock Purchase Plan

 

 

 

Employee Stock Purchase Plan

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

2011*

 

2010*

 

2011

 

2010

 

Employee Stock Purchase Plan

 

 

 

 

 

 

 

 

 

Expected stock price volatility

 

 

 

56

%

54

%

Risk free interest rate

 

 

 

0.1

%

0.3

%

Expected term (in years)

 

 

 

0.5

 

0.5

 

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

 

 

 

$

5.96

 

$

7.46

 

 

 

* No shares were issued under the Employee Stock Purchase Plans during the three months ended September 30, 2011 and 2010, respectively.

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

 

293,554

 

18.99

 

Vested

 

(245,697

)

17.59

 

Forfeited

 

(14,934

)

21.76

 

Nonvested at September 30, 2011

 

750,930

 

18.67