Abercrombie & Fitch 2009 Annual Report Download - page 63

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Stock Options
The weighted-average estimated fair values of stock options granted during the fifty-two week periods
ended January 30, 2010, January 31, 2009 and February 2, 2008, and the weighted-average assumptions used
in calculating such fair values, on the date of grant, were as follows:
January 30,
2010
January 31,
2009
February 2,
2008
Fifty-Two Weeks Ended
Grant date market price ........................ $22.87 $67.63 $74.05
Exercise price ............................... $22.87 $67.63 $74.05
Fair value .................................. $ 8.26 $18.03 $22.56
Assumptions:
Price volatility ............................. 50% 33% 34%
Expected term (Years) ....................... 4.1 4.0 4.0
Risk-free interest rate ........................ 1.6% 2.3% 4.5%
Dividend yield ............................. 1.7% 1.0% 1.0%
Below is a summary of stock option activity for the fifty-two weeks ended January 30, 2010:
Stock Options
Number of
Shares
Weighted-Average
Exercise Price
Aggregate
Intrinsic
Value
Weighted-Average
Remaining
Contractual Life
Fifty-Two Weeks Ended January 30, 2010
Outstanding at January 31, 2009..... 6,675,990 $41.70
Granted . .................... 4,000 22.87
Exercised .................... (79,552) 24.51
Forfeited or expired ............ (3,630,577) 44.73
Outstanding at January 30, 2010..... 2,969,861 $38.36 $10,644,614 3.6
Stock options expected to become
exercisable at January 30, 2010 . . . 411,921 $66.59 $ 685,266 7.7
Stock options exercisable at
January 30, 2010 .............. 2,527,786 $33.47 $ 9,868,334 2.9
The total intrinsic value of stock options exercised during the fifty-two week periods ended January 30,
2010, January 31, 2009 and February 2, 2008 was $0.6 million, $40.3 million and $64.2 million, respectively.
The grant date fair value of stock options vested during the fifty-two week periods ended January 30,
2010, January 31, 2009 and February 2, 2008 was $5.0 million, $5.1 million and $5.1 million, respectively.
As of January 30, 2010, there was $5.0 million of total unrecognized compensation cost, net of estimated
forfeitures, related to stock options. The unrecognized cost is expected to be recognized over a weighted-
average period of 1.0 years.
62
ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)