Dick's Sporting Goods 2008 Annual Report Download - page 67

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The aggregate intrinsic value in the table above is based on the Company’s closing stock prices for the last business day of the
period indicated. The total intrinsic value for stock options exercised for 2008, 2007 and 2006 was $8.5 million, $107.0 million and
$106.9 million, respectively. The total fair value of options vested for 2008, 2007 and 2006 was $23.9 million, $38.1 million and
$26.2 million, respectively. The nonvested stock option activity for the year ended January 31, 2009 is presented in the following table:
Weighted
Average
Shares Fair Value
Nonvested, February 2, 2008 7,075,779 $ 10.40
Granted 795,455 10.26
Vested (2,787,477) 8.56
Forfeited (508,149) 10.51
Nonvested, January 31, 2009 4,575,608 $ 11.48
As of January 31, 2009, total unrecognized stock-based compensation expense related to nonvested stock options was approximately
$30.4 million, which is expected to be recognized over a weighted average period of approximately 2.20 years.
The Company issues new shares of common stock upon exercise of stock options.
Additional information regarding options outstanding as of January 31, 2009, is as follows:
Options Outstanding Options Exercisable
Weighted
Average
Remaining Weighted Weighted
Contractual Average Average
Range of Exercise Prices Shares Life (Years) Exercise Price Shares Exercise Price
$0.54–$1.08 758,963 2.12 $ 0.87 758,963 $ 0.87
$3.00–$5.24 3,548,000 3.73 3.20 3,548,000 3.20
$6.74–$10.37 918,154 3.67 9.14 908,356 9.13
$11.11–$16.91 5,399,202 4.86 11.95 5,305,826 11.89
$17.34–$26.01 3,545,067 6.82 19.21 2,057,012 18.85
$26.77–$33.40 4,454,049 7.28 28.34 1,469,670 27.99
$0.54–$33.40 18,623,435 5.43 $ 14.99 14,047,827 $ 11.62
Restricted Stock – Beginning in fi scal 2007, the Company issued shares of restricted stock to eligible employees, subject to forfeiture
until the end of an applicable vesting period, which is determined based on the employee’s continuing employment. The awards
generally vest on the third anniversary of the date of grant.
The restricted stock activity from February 3, 2007, through January 31, 2009 is presented in the following table:
Weighted
Average Grant
Shares Date Fair Value
Nonvested, February 3, 2007 — $ —
Granted 300,000 26.01
Vested — —
Forfeited / Expired — —
Nonvested, February 2, 2008 300,000 $ 26.01
Granted 413,843 27.39
Vested (150,000) 26.01
Forfeited / Expired (190,381) 26.40
Nonvested, January 31, 2009 373,462 $ 27.33
DICK’S SPORTING GOODS, INC. 2008 ANNUAL REPORT 65