Common Stock

We have 500 million authorized shares of common stock, $0.01 par value. At December 31, 2012 and 2011, there were (i) 1.3 million and 1.5 million shares of common stock reserved for issuance pursuant to options granted under our stock option plans, respectively, (ii) 1.3 million shares of common stock reserved for the conversion of outstanding QUIPS of the Trust, respectively, (iii) 0.0 million and 1.0 million shares of common stock reserved for the conversion of 1⁷/8 percent Convertible Notes, respectively, and (iv) 18.9 million shares of common stock reserved for the conversion of 4 percent Convertible Notes. As discussed above (see note 12 “Debt”), based on the price of our common stock during the fourth quarter of 2012, holders of the 4 percent Convertible Notes may redeem them during the first quarter of 2013 at a conversion price of approximately $11.11 per share of common stock. Between January 1, 2013 (the beginning of the first quarter) and January 21, 2013, none of the 4 percent Convertible Notes were redeemed.

As of December 31, 2012, there were an aggregate of 1.4 million outstanding time and performance-based restricted stock units which vest in 2013, 2014, 2015 and 2016, and there were 2.9 million shares available for grant of stock and options under our 2010 Long Term Incentive Plan.

A summary of the transactions within the Company’s stock option plans follows (shares in thousands):



	Shares		Weighted-Average Exercise Price
Outstanding at January 1, 2010	2,782		$	15.40
Granted	851		8.43
Exercised	(196	)	5.63
Canceled	(84	)	11.71
Outstanding at December 31, 2010	3,353		14.30
Granted	63		31.49
Exercised	(1,831	)	19.25
Canceled	(49	)	7.85
Outstanding at December 31, 2011	1,536		9.30
Granted	1,148		22.17
Exercised	(1,362	)	15.42
Canceled	(34	)	32.26
Outstanding at December 31, 2012	1,288		13.69
Exercisable at December 31, 2010	1,932		$	19.98
Exercisable at December 31, 2011	674		$	10.14
Exercisable at December 31, 2012	770		$	10.97

As of December 31, 2012 (options in thousands):



	Options Outstanding				Options Exercisable
Range of Exercise Prices	Amount Outstanding	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price		Amount Exercisable	Weighted Average Exercise Price
$0.01-5.00	297	6.2	$	3.38	297	$	3.38
5.01-10.00	431	7.2	8.37		165	8.34
10.01-15.00	121	6.0	14.09		105	14.21
15.01-20.00	131	5.3	16.14		87	16.61
20.01-25.00	24	4.3	22.97		24	22.97
25.01-30.00	149	7.2	25.85		62	26.12
30.01-35.00	84	8.0	31.96		30	32.13
35.01-40.00	—	0	—		—	—
40.01-45.00	51	9.1	41.25		—	—
	1,288		$	13.69	770	$	10.97

Stockholders’ Rights Plan. Our stockholders' rights plan expired in accordance with its terms on September 27, 2011. Our board of directors elected not to renew or extend the plan.