Barnes and Noble 2002 Annual Report Download - page 46

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[NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS continued ]
45
2002 Annual Report Barnes & Noble, Inc.
The following table summarizes information as of February 1, 2003 concerning outstanding and exercisable options:
Options Outstanding Options Exercisable
Weighted- Weighted- Weighted-
Number Average Average Number Average
Outstanding Remaining Exercise Exercisable Exercise
Range of Exercise Prices (000s) Contractual Life Price (000s) Price
$3.53 3,898 7.84 $ 3.53 2,525 $ 3.53
$4.51
(1)
4,500
(1)
8.36
(1)
$4.51
(1)
4,500
(1)
$4.51
(1)
$16.48 15 9.43 $ 16.48 -- $ 16.48
$18.00 4,317 9.06 $ 18.00 -- $ 18.00
$21.25 30 9.31 $ 21.25 -- $ 21.25
$3.53 - $ 21.25 12,760 8.44 $ 8.83 7,025 $ 4.16
(1) These options are held by Leonard Riggio, the Company’s Chairman of the Board and principal stockholder.
GME Stock Option Plans
In August 2001, the Company approved the 2001
Incentive Plan of GameStop Corp. (the 2001 Plan). The
2001 Plan assumed (by the issuance of replacement
options) all stock options outstanding as of the effective
date under the 2000 Incentive Plan of GameStop, Inc.
(the 2000 Plan) under the same terms.
Effective September 13, 2000, the Company approved
the 2000 Plan. The 2000 Plan provides a maximum
aggregate amount of 15,000,000 shares of common
stock with respect to which options may be granted and
provides for the granting of incentive stock options,
non-qualified stock options, and restricted stock, which
may include, without limitation, restrictions on the
right to vote such shares and restrictions on the right
to receive dividends on such shares. The options to
purchase common shares generally are issued at fair
market value on the date of grant. Generally, the
options vest and become exercisable ratably over a
three-year period, commencing one year after the grant
date, and expire ten years from issuance.
A summary of the status of the Company’s GME stock
options is presented below:
Weighted-Average
(Thousands of shares) Shares Exercise Price
Balance, January 29, 2000 -- $ --
Granted 4,488 3.53
Exercised -- --
Forfeited ( 18 ) 3.53
Balance, February 3, 2001 4,470 3.53
Granted 4,500 4.51
Exercised -- --
Forfeited ( 159 ) 3.53
Balance, February 2, 2002 8,811 4.03
Granted 4,545 18.02
Exercised ( 287 ) 3.53
Forfeited ( 309 ) 12.10
Balance, February 1, 2003 12,760 $ 8.83