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Equity Incentive Plans and Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2012
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, 2011

 

2,812,876

 

Stock options granted

 

(1,937,002

)

Stock options forfeited

 

136,993

 

Stock options expired under former plans

 

(21,837

)

Nonvested equity stock and stock units granted (1)

 

(635,057

)

Nonvested equity stock and stock units forfeited (1)

 

3,342

 

Total available for grant as of March 31, 2012

 

359,315

 

 

(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 (years)

 

Value

 

 

 

(Dollars in thousands, except per share amounts)

 

Outstanding as of December 31, 2011

 

14,587,596

 

$

19.73

 

 

 

 

 

Options granted

 

1,937,002

 

7.30

 

 

 

 

 

Options exercised

 

(11,467

)

4.67

 

 

 

 

 

Options forfeited

 

(136,993

)

17.86

 

 

 

 

 

Outstanding as of March 31, 2012

 

16,376,138

 

18.28

 

5.77

 

$

497

 

Vested or expected to vest at March 31, 2012

 

15,699,805

 

18.46

 

5.63

 

497

 

Options exercisable at March 31, 2012

 

10,806,897

 

20.18

 

4.23

 

497

 

Weighted-average assumptions for Stock Option Plans

 

 

 

Three Months Ended
March 31,

 

 

 

2012

 

2011

 

Stock Option Plans

 

 

 

 

 

Expected stock price volatility

 

60

%

52

%

Risk free interest rate

 

0.7

%

2.8

%

Expected term (in years)

 

5.6

 

6.0

 

Weighted-average fair value of stock options granted

 

$

3.88

 

$

10.81

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, 2011

 

763,510

 

$

18.02

 

Granted

 

423,371

 

7.28

 

Vested

 

(181,099

)

18.75

 

Forfeited

 

(2,228

)

7.31

 

Nonvested at March 31, 2012

 

1,003,554

 

13.38