GNC 2009 Annual Report Download - page 109

Table of Contents
GENERAL NUTRITION CENTERS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
In 2006, the Board of Directors of the Company and our Parent approved and adopted the GNC Corporation 2006 Omnibus Stock Incentive
Plan (the "2006 Plan"). In 2003 the Board approved and adopted the GNC Corporation (f/k/a General Nutrition Centers Holding Company) 2003
Omnibus Stock Incentive Plan (the "2003 Plan"). Hereafter, collectively referred to as the ("Plans"). The purpose of the Plans is to enable the
Company to attract and retain highly qualified personnel who will contribute to the success of the Company. The Plans provide for the granting
of stock options, stock appreciation rights, restricted stock, deferred stock and performance shares. The Plans are available to certain eligible
employees, directors, consultants or advisors as determined by the administering committee of the Board. The total number of shares of our
Parent's Common Stock reserved and available for the 2006 Plan is 3.8 million shares and under the 2003 Plan is 4.0 million shares. Stock
options under the Plans generally are granted at fair market value, vest over a four-year vesting schedule and expire after seven years from
date of grant. If stock options are granted at an exercise price that is less than fair market value at the date of grant, compensation expense is
recognized immediately for the intrinsic value. No stock appreciation rights, restricted stock, deferred stock or performance shares were granted
under the Plans as of December 31, 2006.
The following table outlines our Parent's total stock options activity:
Weighted
Average
Total Options Exercise Price
Outstanding at December 31, 2007 6,714,492 $ 6.25
Granted 2,350,000 9.48
Exercised (3,946) 5.00
Forfeited (172,907) 6.25
Expired (3,947) 7.50
Outstanding at December 31, 2008 8,883,692 $ 7.10
Exercisable at December 31, 2008 1,433,026 $ 6.25
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