Alcoa 2010 Annual Report Download - page 133

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The total intrinsic value of options exercised during 2010 and 2008 was $8 and $86, respectively. In 2010 and 2008,
the cash received from option exercises was $13 and $177, respectively, and the tax benefit realized from these
exercises was $2 and $20, respectively. There were no options exercised in 2009.
The following tables summarize certain stock option information at December 31, 2010 (number of options and
intrinsic value in millions):
Options Fully Vested and/or Expected to Vest*
Range of
exercise price Number
Weighted
average
remaining
contractual
life
Weighted
average
exercise
price
Intrinsic
Value
$6.12 - $19.93 32.7 5.39 $ 9.71 $186
$19.94 - $27.71 2.9 2.01 22.59 -
$27.72 - $35.49 10.2 0.84 30.30 -
$35.50 - $47.53 10.3 0.85 37.93 -
Total 56.1 3.56 19.29 $186
* Expected forfeitures are immaterial to the Company and are not reflected in the table above.
Options Fully Vested and Exercisable
Range of
exercise price Number
Weighted
average
remaining
contractual
life
Weighted
average
exercise
price
Intrinsic
Value
$6.12 - $19.93 7.2 4.06 $ 8.35 $51
$19.94 - $27.71 2.9 2.01 22.59 -
$27.72 - $35.49 9.8 0.74 30.36 -
$35.50 - $47.53 10.3 0.85 37.93 -
Total 30.2 1.70 26.91 $51
In addition to stock option awards, the Company has granted stock awards and performance share awards, both of
which vest three years from the date of grant. Performance share awards are issued at target and the final award amount
is determined at the end of the performance period.
The following table summarizes the outstanding stock and performance share awards (awards in millions):
Stock
Awards
Performance
Share Awards Total
Weighted
average
FMV
per award
Outstanding, January 1, 2010 5.9 1.3 7.2 $23.81
Granted 3.0 0.5 3.5 13.50
Converted (2.2) (0.4) (2.6) 31.35
Forfeited (0.5) (0.1) (0.6) 17.20
Performance share adjustment - 0.2 0.2 13.54
Outstanding, December 31, 2010 6.2 1.5 7.7 16.80
125