Advance Auto Parts 2012 Annual Report Download - page 78

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F-33
Time-Based Share Awards
Stock Appreciation Rights and Stock Options
The following table summarizes the time-vested stock option and time-vested SARs activity for the fiscal year ended
December 29, 2012:
Number of
Awards
Weighted-
Average
Exercise Price
Weighted-
Average
Remaining
Contractual
Term (in years)
Aggregate
Intrinsic Value
Outstanding at December 31, 2011 2,849 $ 43.70
Granted 359 73.14
Exercised (944) 35.58
Forfeited (109) 60.31
Outstanding at December 29, 2012 2,155 $ 51.55 4.11 $ 43,626
Vested and expected to vest 2,099 $ 51.00 4.04 $ 43,576
Outstanding and exercisable 1,467 $ 42.80 3.11 $ 42,112
The weighted average fair value of SARs granted during the during Fiscal 2012, 2011 and 2010 was $19.25, $19.81 and
$19.10 per share, respectively. The aggregate intrinsic value reflected in the table above and the following page is based on the
Company's closing stock price of $71.51 as of the last trading day of Fiscal 2012. The aggregate intrinsic value of stock options
and SARs (the amount by which the market price of the stock on the date of exercise exceeded the exercise price) exercised
during Fiscal 2012, 2011 and 2010 was $44,471, $33,779 and $35,447, respectively.
Restricted Stock Units and Restricted Stock
The following table summarizes the RSU and restricted stock activity for the fiscal year ended December 29, 2012:
Number of Awards
Weighted-Average
Grant Date Fair
Value
Nonvested at December 31, 2011 184 $ 61.05
Granted 98 75.26
Vested (83) 55.21
Forfeited (24) 63.24
Nonvested at December 29, 2012 175 $ 71.43
The fair value of each RSU and restricted stock award is determined based on the market price of the Company's common
stock on the date of grant. The weighted average fair value of RSUs and restricted shares granted during Fiscal 2012, 2011 and
2010 was $75.26, $67.79 and $64.58 per share, respectively. The total grant date fair value of RSUs and restricted shares vested
during Fiscal 2012, 2011 and 2010 was $4,734, $10,548 and $8,317, respectively.
ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 29, 2012, December 31, 2011 and January 1, 2011
(in thousands, except per share data)