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10-Q - QUARTERLY REPORT - CalAmp Corp.calamp_10q.htm
EX-32 - CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - CalAmp Corp.exhibit32.htm
EX-3.1 - AMENDED AND RESTATED CERTIFICATE OF INCORPORATION - CalAmp Corp.exhibit3-1.htm
EX-31.1 - CHIEF EXECUTIVE OFFICER CERTIFICATION PURSUANT TO SECTION 302 - CalAmp Corp.exhibit31-1.htm
EX-31.2 - CHIEF FINANCIAL OFFICER CERTIFICATION PURSUANT TO SECTION 302 - CalAmp Corp.exhibit31-2.htm
EXCEL - IDEA: XBRL DOCUMENT - CalAmp Corp.Financial_Report.xls
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v2.4.0.6
STOCK-BASED COMPENSATION
6 Months Ended
Aug. 31, 2012
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 8 – STOCK-BASED COMPENSATION

     Stock-based compensation expense is included in the following captions of the unaudited consolidated income statements (in thousands):

            Three Months Ended
August 31,
Six Months Ended
August 31,
2012       2011       2012       2011
Cost of revenues $      32 $       (3 ) $      59 $      40
Research and development 111 94 209 176
Selling 84 48 147 93
General and administrative 587 428 1,257 790
$ 814 $ 567 $ 1,672 $ 1,099
 

     Changes in the Company's outstanding stock options during the six months ended August 31, 2012 were as follows (options in thousands):

            Number of
Options
      Weighted
Average
Exercise Price
Outstanding at February 28, 2012 2,163 $      4.78
Granted 84 7.01
Exercised (241 ) 2.45
Forfeited or expired (125 ) 3.90
Outstanding at August 31, 2012 1,881 $ 5.24
Exercisable at August 31, 2012 1,601 $ 5.44
 

     In July 2012, the Company retained 93,691 option shares of 168,000 stock options held by a former executive officer of the Company that were exercised on a net share settlement basis. The retained shares were withheld to cover the option exercise price and minimum required statutory amount of withholding taxes.

     Changes in the Company's unvested restricted stock shares and restricted stock units (“RSUs”) during the six months ended August 31, 2012 were as follows (shares and RSUs in thousands):

            Number of
Shares
and RSUs
      Weighted
Average Grant
Date Fair
Value
Outstanding at February 28, 2012 1,929 $ 2.71
Granted 426 7.47
Vested (901 ) 2.54
Forfeited (97 ) 2.67
Outstanding at August 31, 2012 1,357 $ 4.33
 

     During the six months ended August 31, 2012, the Company retained 303,524 of the 900,600 shares that vested under restricted stock and RSU awards to cover the minimum required statutory amount of employee withholding taxes.

     During the six months ended August 31, 2012, the Company received cash of $1,869,000 from the exercise of 480,000 common stock purchase warrants that were held by non-affiliates of the Company. In addition, the Company retained 1,360 shares to pay for the exercise price of 2,500 warrants beneficially held by an executive officer of the Company that were exercised on a net share settlement basis.

     As of August 31, 2012, there was $6.3 million of total unrecognized stock-based compensation cost related to nonvested stock options, restricted stock and RSUs that is expected to be recognized as an expense over a weighted-average remaining vesting period of 2.7 years.