CDW 2004 Annual Report Download - page 51

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43
Shares
Weighted-
Average
Exercise Price
Options
Exercisable
Balance at January 1, 2002 12,648,876 $ 24.01 1,300,460
Options granted 1,169,464 55.15 -
Options exercised (1,203,031) 15.45 -
Options forfeited (1,235,600) 28.11 -
Balance at December 31, 2002 11,379,709 27.79 1,803,103
Options granted 1,282,434 43.49 -
Options exercised (1,228,854) 21.07 -
Options forfeited (505,140) 29.09 -
Balance at December 31, 2003 10,928,149 30.33 2,462,206
Options granted 1,386,765 66.64 -
Options exercised (1,304,965) 27.17 -
Options forfeited (288,413) 38.18 -
Balance at December 31, 2004 10,721,536 $ 35.19 3,228,679
For the years ended December 31, 2004, 2003 and 2002, the weighted-average fair value of options
granted was as follows:
2004 2003 2002
Exercise price equals market price at time of grant $ 34.85 $ 23.74 $ 30.82
Exercise price is less than market price at time of grant (1) $ 15.38 $ 11.75 $ -
(1) Relates to the Employee Stock Purchase Plan, whereby eligible coworkers may purchase our common
stock at less than market prices. The Employee Stock Purchase Plan is discussed in more detail later in this
footnote.