Abercrombie & Fitch 2009 Annual Report Download - page 64

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Stock Appreciation Rights
The weighted-average estimated fair value of stock appreciation rights granted during the fifty-two week
periods ended January 30, 2010 and January 31, 2009, as well as the weighted-average assumptions used in
calculating such values, on the date of grant, were as follows. There were no stock appreciation rights granted
in Fiscal 2007.
Chairman and
Chief Executive
Officer
Executive Officers
(excluding Chairman
and Chief Executive
Officer)
All Other
Associates
Chairman and
Chief Executive
Officer
January 30, 2010
January 31, 2009
Fifty-Two Weeks Ended Fifty-Two Weeks
Ended
Grant date market price .......... $28.42 $25.77 $26.43 $22.84
Exercise price. ................. $32.99 $25.77 $26.43 $28.55
Fair value ..................... $ 9.67 $10.06 $10.00 $ 8.06
Assumptions:
Price volatility ............... 47% 52% 53% 45%
Expected term (Years) .......... 5.6 4.5 4.1 6.4
Risk-free interest rate .......... 2.5% 1.6% 1.6% 1.6%
Dividend yield ............... 2.4% 1.7% 1.7% 1.3%
Below is a summary of stock appreciation rights activity for the fifty-two weeks ended January 30, 2010:
Stock Appreciation Rights
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 ........ 1,600,000 $28.55
Granted ........................ 4,236,367 31.70
Exercised ....................... — —
Forfeited or expired ............... (47,500) 25.77
Outstanding at January 30, 2010 ........ 5,788,867 $30.88 $19,853,605 6.4
Stock appreciation rights expected to
become exercisable at January 30,
2010 .......................... 5,705,376 $31.00 $19,389,978 6.4
Stock appreciation rights exercisable at
January 30, 2010 . . ............... — — — —
63
ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)