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Stock-Based Compensation Activity
The following table presents a summary of the Company’s
stock options activity:
NUMBER OF
SHARES
(in thousands)
WEIGHTED
AVERAGE
EXERCISE
PRICE
WEIGHTED
AVERAGE
REMAINING
CONTRACTUAL
TERM
AGGREGATE
INTRINSIC
VALUE
(in thousands)
Balance,
February 3, 2007 8,505 $ 18.97 5.64 years $ 182,557
Granted 20 40.70
Exercised (1,852) 16.84
Forfeited (91) 22.58
Balance,
February 2, 2008 6,582 20.19 4.98 years $ 91,597
Granted 289 23.19
Exercised (488) 19.79
Forfeited (416) 23.88
Balance,
January 31, 2009 5,967 20.11 4.03 years $ 3,557
Granted — —
Exercised (280) 19.73
Forfeited (126) 19.27
Balance,
May 2, 2009 5,561 20.14 3.83 years $ 33,633
Granted 500 22.07
Exercised (313) 13.96
Forfeited (250) 30.69
Balance,
May 1, 2010 5,498 $ 20.19 3.49 years $ 13,782
Vested and
expected to vest
in the future at
May 1, 2010 5,498 $ 20.19 3.49 years $ 13,782
Exercisable at
May 1, 2010 4,998 $ 20.00 2.85 years $ 13,782
Available for grant
at May 1, 2010 1,431
The aggregate intrinsic value in the table above represents
the total pre-tax intrinsic value (the difference between
the Company’s closing stock price on the last trading day of
the related fiscal year and the exercise price, multiplied by
the related in-the-money options) that would have been
received by the option holders had they exercised their
options at the end of the fiscal year. This amount changes
based on the market value of the Company’s common stock.
Total intrinsic value of options exercised for fiscal 2010, the
transition period, fiscal 2008 and 2007 (based on the dif-
ference between the Company’s stock price on the exercise
date and the respective exercise price, multiplied by the
number of options exercised) was $2,321, $1,094, $3,997
and $43,649, respectively.
As of May 1, 2010, there was $2,781 of total unrecognized
compensation expense related to unvested stock options
granted under the Company’s share-based compensation
plans. That expense is expected to be recognized over a
weighted average period of 2.9 years.
The following table presents a summary of the Company’s
restricted stock activity:
NUMBER OF SHARES
(in thousands)
WEIGHTED AVERAGE
GRANT DATE FAIR
VALUE
Balance, February 3, 2007 767 $ 40.97
Granted 539 40.01
Vested (236) 39.83
Forfeited (44) 40.87
Balance, February 2, 2008 1,026 40.74
Granted 991 28.27
Vested (431) 39.27
Forfeited (135) 31.13
Balance, January 31, 2009 1,451 33.55
Granted 133 17.56
Vested (299) 37.21
Forfeited (50) 35.28
Balance, May 2, 2009 1,235 30.86
Granted 1,647 21.93
Vested (429) 33.18
Forfeited (123) 30.41
Balance, May 1, 2010 2,330 $ 24.15
Total fair value of shares of restricted stock that vested
during fiscal 2010, the transition period, fiscal 2008 and
2007 was $9,408, $6,435, $12,108 and $9,108, respectively.
As of May 1, 2010, there was $49,918 of unrecognized
stock-based compensation expense related to nonvested
restricted stock awards. That cost is expected to be recog-
nized over a weighted average period of 2.7 years.
For fiscal 2010, the transition period, fiscal 2008 and 2007,
stock-based compensation expense of $15,723, $3,900,
$20,549 and $17,168, respectively, is included in selling
and administrative expenses.
46 Barnes & Noble, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued