RARE ELEMENT RESOURCES LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Expressed in thousands of U.S. Dollars, except share and per share amounts, unless otherwise noted)
76
The following table summarizes stock option activity for each of the years ended December 31, 2014 and 2013, six-
month period ended December 31, 2012 and for the fiscal year ended June 30, 2012:
For the years ended December 31,
For the six-month period
ended December 31,
For the fiscal year ended
June 30,
2014
2013
2012
2012
Number of
Stock
Options
Weighted
Average
Exercise
Price
Number
of Stock
Options
Weighted
Average
Exercise
Price
Number
of Stock
Options
Weighted
Average
Exercise
Price
Number
of Stock
Options
Weighted
Average
Exercise
Price
Outstanding, beginning of
period
4,700,500
$5.51
4,331,000
$ 6.42
4,331,000
$ 5.84
3,136,500
$ 6.16
Granted
275,000
1.28
622,500
1.59
610,000
3.97
1,616,000
6.05
Exercised
(150,000)
0.50
-
-
(610,000)
0.77
(179,000)
1.47
Cancelled/Expired
(480,000)
4.52
(253,000)
6.56
-
-
(242,500)
14.57
Outstanding, end of period
4,345,500
$5.16
4,700,500
$ 5.51
4,331,000
$ 6.42
4,331,000
$ 5.84
Exercisable, end of period
3,950,500
$5.54
3,951,000
$ 6.15
3,146,200
$ 7.01
3,101,000
$ 5.51
Weighted-average fair
value per share of options
granted during period
$0.65
$ 0.84
$ 2.04
$ 3.83
The following table summarizes information about stock options outstanding and exercisable at December 31, 2014:
Outstanding Stock Options
Exercisable Stock Options
Range of Exercise
Prices
Number
Outstanding
Weighted-
Average
Remaining
Contractual Life
(in years)
Weighted-
Average
Exercise Price
Number
Exercisable
Weighted-
Average
Remaining
Contractual
Life (in years)
Weighted-
Average
Exercise
Price
$1.23 - $3.00
1,456,500
2.59
$ 1.88
1,061,500
2.00
$ 2.07
$3.01 - $6.00
1,533,000
2.27
4.54
1,533,000
2.27
4.54
$6.01 - $9.00
210,000
1.54
8.08
210,000
1.54
8.08
$9.01 - $12.00
975,000
1.21
9.04
975,000
1.21
9.04
$12.01 +
171,000
1.03
13.05
171,000
1.03
13.05
4,345,500
2.05
$ 5.16
3,950,000
1.84
$ 5.54
A summary of stock option activity as of December 31, 2014 and changes during the year then ended are presented
below.
Non-vested Stock Options
Number Outstanding
Weighted Average Grant
Date Fair Value
Non-vested at December 31, 2013
749,500
$ 1.11
Granted
275,000
0.65
Vested
(629,500)
1.16
Expired
-
-
Non-vested at December 31, 2014
395,000
0.71
