Dick's Sporting Goods 2010 Annual Report Download - page 81

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Additional information regarding options outstanding as of January 29, 2011, is as follows:
Range of Exercise
Prices Shares
Weighted
Average
Remaining
Contractual
Life (Years)
Weighted
Average
Exercise Price Shares
Weighted
Average
Exercise
Price
Options Outstanding Options Exercisable
$1.08 - $9.19 . . . . . . . . . . . . . . . . . . . 1,249,355 1.59 $ 5.44 1,249,355 $ 5.44
$10.37 - $11.44 . . . . . . . . . . . . . . . . . . 3,703,930 2.73 11.44 3,700,930 11.44
$12.44 - $17.98 . . . . . . . . . . . . . . . . . . 3,758,481 4.27 14.49 2,022,929 15.05
$18.02 - $28.09 . . . . . . . . . . . . . . . . . . 2,890,053 5.39 23.28 1,806,629 21.42
$28.23 - $37.78 . . . . . . . . . . . . . . . . . . 2,092,058 6.15 28.99 1,396,013 28.87
$1.08 - $37.78 . . . . . . . . . . . . . . . . . . 13,693,877 4.13 $16.91 10,175,856 $15.59
Restricted Stock — Beginning in fiscal 2007, the Company issued shares of restricted stock to eligible employees, subject to
forfeiture until the end of an applicable vesting period. The awards generally vest on the third anniversary of the date of grant,
subject to the employee’s continuing employment as of that date.
The restricted stock activity from February 2, 2008 through January 29, 2011 is presented in the following table:
Shares
Weighted
Average
Grant
Date Fair
Value
Nonvested, February 2, 2008. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000 $26.01
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 413,843 27.39
Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (150,000) 26.01
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (190,381) 26.40
Nonvested, January 31, 2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 373,462 $27.33
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 481,673 14.23
Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — —
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (70,217) 22.65
Nonvested, January 30, 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 784,918 $19.71
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,383,273 26.48
Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — —
Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (177,123) 23.12
Nonvested, January 29, 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,991,068 $24.11
As of January 29, 2011, total unrecognized stock-based compensation expense related to nonvested shares of restricted stock, net
of estimated forfeitures, was approximately $21.5 million, before income taxes, which is expected to be recognized over a
weighted average period of approximately 1.67 years.
Effective July 18, 2008, two executives of the Company’s Golf Galaxy subsidiary stepped down from their positions. Stock options
granted to these executives exercisable for up to 630,000 shares of the Company’s common stock at an exercise price of $27.30
per share and all previously granted stock options that were exercisable for Golf Galaxy common stock (converted to options
exercisable for the Company’s common stock as a result of the acquisition of Golf Galaxy by the Company) became fully vested
upon their departure. 150,000 shares of restricted common stock granted to these executives on February 13, 2007 that were to
vest based only on the passage of time also became fully vested. The executives forfeited any rights to an additional
150,000 shares of restricted common stock granted to them on February 13, 2007 that were to vest based on the attainment of
certain performance metrics. The accelerated vesting of these stock options and restricted stock, net of the reversal of previously
recognized compensation expense, for these individuals resulted in a pre-tax charge of $0.5 million in fiscal 2008, which is
recorded in merger and integration costs on the Consolidated Statements of Operations.
Dick’s Sporting Goods, Inc. ¬2010 Annual Report 61
DICK’S SPORTING GOODS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)