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BENEFIT PLANS
 9 Months Ended
Sep. 28, 2012
BENEFIT PLANS

NOTE 9: BENEFIT PLANS

Harmonic grants stock options and restricted stock units (“RSUs”) pursuant to stockholder approved equity incentive plans. These equity incentive plans are described in further detail in Note 13, Benefit Plans, of Notes to Consolidated Financial Statements in the 2011 Form 10-K.

Stock Options and RSUs

The following table summarizes the Company’s stock option and restricted stock unit activity during the nine months ended September 28, 2012:

 

           Stock Options Outstanding      Restricted Stock Units Outstanding  
     Shares
Available for
Grant		     Number
of
Shares		     Weighted
Average
Exercise Price		      Number
of
Units		     Weighted
Average
Grant
Date Fair
Value		  
     (In thousands, except per share amounts)  

Balance at December 31, 2011

      7,835        9,303      $ 7.12         3,713      $ 7.52   

Authorized

      5,450        —          —           —          —     

Granted

      (4,969 )      1,246        5.63         2,482        5.74   

Options exercised

      —          (208 )      2.83         —          —     

Shares released

      —          —          —           (1,373 )      7.51   

Forfeited or cancelled

      1,669        (1,298 )      8.78         (490 )      6.67   
  

 

 

    

 

 

    

 

 

     

 

 

    

 

 

  

Balance at September 28, 2012

      9,985        9,043      $ 6.78         4,332      $ 6.48   
  

 

 

    

 

 

    

 

 

     

 

 

    

 

 

  

The following table summarizes information about stock options outstanding as of September 28, 2012:

 

     Number
of
Shares		      Weighted
Average
Exercise
Price		      Weighted
Average
Remaining
Contractual
Term (Years)		      Aggregate
Intrinsic
Value		  
     (In thousands, except per share amounts and term)  

Vested and expected to vest

      8,876       $ 6.78         3.5       $ 2,105   

Exercisable

      6,689         6.99         2.7         1,587   

The intrinsic value of options vested and expected to vest and exercisable as of September 28, 2012 is calculated based on the difference between the exercise price and the fair value of the Company’s common stock as of September 28, 2012. The intrinsic value of options exercised during the three and nine months ended September 28, 2012 was $0.1 million and $0.6 million, respectively, and is calculated based on the difference between the exercise price and the fair value of the Company’s common stock as of the exercise date.

 

The following table summarizes information about restricted stock units outstanding as of September 28, 2012:

 

     Number of
Shares
Underlying
Restricted
Stock
Units		      Weighted
Average
Remaining
Vesting
Period
(Years)		      Aggregate
Fair
Value (1)		  
     (In thousands, except period)  

Vested and expected to vest

      4,003         1.3       $ 18,173   

 

(1) Represents the fair value of the Company’s common stock as of September 28, 2012, times the number of restricted stock units vested and expected to vest as of the same date.