The following table summarizes warrant activity with non-employees that were expensed at fair value upon grant. All warrants were exercisable for common stock of the Company and expired in 2012.
| (In thousands except for share price) | Shares | Weighted-Average Exercise Price |
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|
Outstanding warrants at May 31, 2010 |
29 | 8.48 | ||||||
|
Warrants exercised during the year |
(20 | ) | 8.30 | |||||
|
Warrants forfeited during the year |
(2 | ) | 8.18 | |||||
|
|
|
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|
Outstanding warrants at May 31, 2011 |
7 | 9.02 | ||||||
|
Warrants exercised during the year |
(2 | ) | 9.02 | |||||
|
Warrants forfeited during the year |
(5 | ) | 9.02 | |||||
|
|
|
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|
Outstanding warrants at May 31, 2012 |
0 | 0 | ||||||