Management’s Discussion and Analysis
of Financial Condition and Results of Operations
of Financial Condition and Results of Operations
Equity Compensation Plan Information
The following table provides information as of April 30, 2006, for compensation plans under which equity securities may be issued.
| Plan Category | (a) Number of Securities to Be Issued Upon Exercise of Outstanding Options, Warrants & Rights |
(b) Weighted-Average Exercise Price of Outstanding Options, Warrants & Rights |
(c) Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column(a)) |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Compensation Plans Approved by Shareholders(1) |
4,466,850 | $ | 15.05 | 1,326,833 | |||||||
| Equity Compensation Plans Not Requiring Approval by Shareholders: Options(2) |
79,000 | 8.91 | — | ||||||||
| Total | 4,545,850 | 1,326,833 | |||||||||
(1) Includes securities available for future issuance under shareholder-approved compensation plans other than upon the exercise of an option, warrant or right, as follows:
- The Company’s Amended and Restated 1992 Stock-Based Incentive Compensation Plan presently provides that awards may be granted in the form of shares of common stock to replace all or a portion of compensation (other than base salary) that could otherwise become payable to any employee. A limit of 990,000 shares of common stock is imposed on stock awards. In addition, the Plan provides that awards may be made in shares of restricted stock, up to an aggregate of 600,000 shares.
(2) Reflects stock options awarded as an inducement to becoming an employee of the Company to Elden L. Smith effective March 8, 2005.