Motorola 2006 Annual Report Download - page 113

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105
The following table summarizes information about stock options outstanding and exercisable at December 31,
2006 (in thousands, except exercise price and years):
Options Outstanding Options Exercisable
Wtd. avg. Wtd. avg. Wtd. avg.
No. of Exercise contractual No. of Exercise
Exercise price range options Price life (in yrs.) options Price
Under $7 279 $7 4 267 $6
$7-$13 72,163 10 5 59,303 11
$14-$20 93,426 16 6 43,342 17
$21-$27 37,169 22 9 1,732 25
$28-$34 1,792 32 3 1,792 32
$35-$41 28,203 39 8 28,203 39
$42-$48 377 44 4 377 44
$49-$55 36 51 3 36 51
233,445 135,052
The weighted average contractual life for options outstanding and exercisable as of December 31, 2006 was
seven and six years, respectively.
Restricted Stock and Restricted Stock Units
Restricted stock (""RS'') and restricted stock unit (""RSU'') grants consist of shares or the rights to shares of
the Company's common stock which are awarded to employees and non-employee directors. The grants are
restricted such that they are subject to substantial risk of forfeiture and to restrictions on their sale or other transfer
by the employee. Upon the occurrence of a change in control, the restrictions on all shares of RS and RSU
outstanding on the date on which the change in control occurs will lapse.
Restricted stock and restricted stock unit activity for the year ended December 31, 2006 was as follows:
Wtd. Avg. Aggregate
Grant Date Intrinsic
RS and RSU Fair Value Value
(In thousands) (In millions)
RS and RSU outstanding at January 1, 2006 4,383 $16 $98
Granted 2,761 22
Vested (938) 15
Terminated, cancelled or expired (190) 18
RS and RSU outstanding at December 31, 2006 6,016 19 123
At December 31, 2006, the Company had unrecognized compensation expense related to restricted stock and
restricted stock units of $66 million, expected to be recognized over the weighted average period of approximately
three years. An aggregate of approximately 2.8 million, 1.7 million and 1.1 million shares of restricted stock and
restricted stock units were granted in 2006, 2005 and 2004, respectively. The amortization of unrecognized
compensation for the years ended December 31, 2006, 2005 and 2004 was $24 million, $14 million and
$24 million, respectively. The total fair value of restricted stock and restricted stock unit shares vested during the
years ended December 31, 2006, 2005 and 2004 was $22 million, $32 million and $3 million, respectively.
Total Share-Based Compensation Presentation
Under the modified prospective transition method, results for prior periods have not been restated to reflect
the effects of implementing SFAS 123R. The following pro forma information is presented for comparative
purposes and illustrate the pro forma effect on Earnings from continuing operations and Net earnings and the