GameStop 2007 Annual Report Download - page 96

Download and view the complete annual report

Please find page 96 of the 2007 GameStop annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 115

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115

The following table summarizes information as of February 2, 2008 concerning outstanding and exercisable
options:
Range of Exercise Prices
Number
Outstanding
(000s)
Weighted-
Average
Remaining
Life (Years)
Weighted-
Average
Contractual
Price
Number
Exercisable
(000s)
Weighted-
Average
Exercise
Price
Options Outstanding Options Exercisable
$ 1.76 - $ 2.25 ............... 3,521 3.35 $ 2.25 3,521 $ 2.25
$ 5.90 - $ 6.36 ............... 156 5.21 $ 6.04 156 $ 6.04
$ 7.55 - $ 8.24 ............... 184 6.09 $ 7.66 184 $ 7.66
$ 9.00 - $10.63 ............... 3,997 5.96 $ 9.61 2,951 $ 9.43
$17.94 - $20.68 ............... 2,188 7.98 $20.38 431 $19.67
$26.68 - $26.68 ............... 819 9.02 $26.68 — $ —
$ 1.76 - $26.68 ............... 10,865 5.74 $10.60 7,243 $ 6.43
The total intrinsic value of options exercised during the fiscal years ended February 2, 2008, February 3, 2007
and January 28, 2006 was $264,094, $123,788, and $33,264, respectively. The intrinsic value of options exercisable
and options outstanding was $333,832 and $455,494, respectively, as of February 2, 2008.
The fair value of each option is recognized as compensation expense on a straight-line basis between the grant
date and the date the options become fully vested. During the 52 weeks ended February 2, 2008 and the 53 weeks
ended February 3, 2007, the Company included compensation expense relating to the grant of these options in the
amount of $15,803 and $16,629, respectively, in selling, general and administrative expenses in the accompanying
consolidated statements of operations. As of February 2, 2008, the unrecognized compensation expense related to
the unvested portion of the Company’s stock options was $13,734 which is expected to be recognized over a
weighted average period of 0.8 years.
Subsequent to the fiscal year ended February 2, 2008, an additional 1,362 options to purchase the Company’s
Class A common stock at an exercise price of $49.95 per share were granted under the Incentive Plan. The options
vest in equal installments over three years and expire in February 2018.
Restricted Stock Awards
The Company grants restricted stock awards to certain of its employees, officers and non-employee directors.
Restricted stock awards generally vest over a three-year period on the anniversary of the date of issuance.
F-29
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)