Abercrombie & Fitch 2011 Annual Report Download - page 79

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ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Stock Options
The Company did not grant any stock options during the fifty-two weeks ended January 28, 2012 or
January 29, 2011. The weighted-average estimated fair value of stock options granted during the fifty-two
weeks ended January 30, 2010, and the weighted-average assumptions used in calculating such fair value,
on the date of grant, were as follows:
Fiscal Year
2009
Grant date market price ................................................ $22.87
Exercise price ........................................................ $22.87
Fair value ........................................................... $ 8.26
Assumptions:
Price volatility ..................................................... 50%
Expected term (Years) ............................................... 4.1
Risk-free interest rate ................................................ 1.60%
Dividend yield ..................................................... 1.70%
Below is a summary of stock option activity for the fifty-two weeks ended January 28, 2012:
Stock Options
Number of
Underlying
Shares
Weighted-
Average
Exercise Price
Aggregate
Intrinsic Value
Weighted-Average
Remaining
Contractual Life
Outstanding at January 29, 2011............... 2,316,648 $39.51
Granted ................................ — —
Exercised ............................... (1,573,351) 29.62
Forfeited or cancelled ..................... (28,300) 53.96
Outstanding at January 28, 2012............... 714,997 $60.72 $3,958,608 4.7
Stock options exercisable at January 28, 2012 .... 639,447 $60.16 $3,508,038 4.6
Stock options expected to become exercisable in
the future as of January 28, 2012 ............ 74,320 $65.79 $ 430,461 6.3
The total intrinsic value of stock options which were exercised during the fifty-two weeks ended
January 28, 2012, January 29, 2011 and January 30, 2010 was $48.5 million, $10.7 million and $0.6
million, respectively.
The grant date fair value of stock options which vested during the fifty-two weeks ended January 28,
2012, January 29, 2011 and January 30, 2010 was $2.4 million, $4.0 million and $5.0 million, respectively.
As of January 28, 2012, there was $0.2 million of total unrecognized compensation cost, net of
estimated forfeitures, related to stock options. The unrecognized compensation cost is expected to be
recognized over a weighted-average period of 0.3 years.
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