dividends and distributions we pay regular quarterly dividends to holders of our common stock . on february 16 , 2007 , our board of directors declared the first quarterly installment of our 2007 dividend in the amount of $ 0.475 per share , payable on march 30 , 2007 to stockholders of record on march 20 , 2007 . we expect to distribute 100% ( 100 % ) or more of our taxable net income to our stockholders for 2007 . our board of directors normally makes decisions regarding the frequency and amount of our dividends on a quarterly basis . because the board considers a number of factors when making these decisions , we cannot assure you that we will maintain the policy stated above . please see 201ccautionary statements 201d and the risk factors included in part i , item 1a of this annual report on form 10-k for a description of other factors that may affect our distribution policy . our stockholders may reinvest all or a portion of any cash distribution on their shares of our common stock by participating in our distribution reinvestment and stock purchase plan , subject to the terms of the plan . see 201cnote 15 2014capital stock 201d of the notes to consolidated financial statements included in item 8 of this annual report on form 10-k . director and employee stock sales certain of our directors , executive officers and other employees have adopted and may , from time to time in the future , adopt non-discretionary , written trading plans that comply with rule 10b5-1 under the exchange act , or otherwise monetize their equity-based compensation . securities authorized for issuance under equity compensation plans the following table summarizes information with respect to our equity compensation plans as of december 31 , 2006 : plan category number of securities to be issued upon exercise of outstanding options , warrants and rights weighted average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) equity compensation plans approved by stockholders ( 1 ) . . 1118051 $ 24.27 8373727 equity compensation plans not approved by stockholders ( 2 ) . . 18924 n/a 1145354 .

Table:
plan category | ( a ) number of securities to be issued upon exercise of outstanding options warrants andrights | ( b ) weighted average exercise price of outstanding options warrants and 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 stockholders ( 1 ) | 1118051 | $ 24.27 | 8373727
equity compensation plans not approved by stockholders ( 2 ) | 18924 | n/a | 1145354
total | 1136975 | $ 24.27 | 9519081
( 1 ) these plans consist of ( i ) the 1987 incentive compensation program ( employee plan ) ; ( ii ) the theratx , incorporated 1996 stock option/stock issuance plan ; ( iii ) the 2000 incentive compensation plan ( employee plan ) ( formerly known as the 1997 incentive compensation plan ) ; ( iv ) the 2004 stock plan for directors ( which amended and restated the 2000 stock option plan for directors ( formerly known as the 1997 stock option plan for non-employee directors ) ) ; ( v ) the employee and director stock purchase plan ; ( vi ) the 2006 incentive plan ; and ( vii ) the 2006 stock plan for directors .
( 2 ) these plans consist of ( i ) the common stock purchase plan for directors , under which our non-employee directors may receive common stock in lieu of directors 2019 fees , ( ii ) the nonemployee director deferred stock compensation plan , under which our non-employee directors may receive units convertible on a one-for-one basis into common stock in lieu of director fees , and ( iii ) the executive deferred stock compensation plan , under which our executive officers may receive units convertible on a one-for-one basis into common stock in lieu of compensation. .

Question: what is the value of the equity compensation plans approved by stockholders to be issued upon exercise of outstanding options warrants and rights as of december 312006
Answer: 27135097.77
Calculation: multiply(1118051, 24.27)