GameStop 2008 Annual Report Download - page 96

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Stock Options
A summary of the status of the Company’s stock options is presented below:
Shares
Weighted-
Average
Exercise
Price
(Thousands of shares)
Balance, January 28, 2006 ........................................ 22,912 $ 6.16
Granted ...................................................... 3,260 $20.68
Exercised .................................................... (6,660) $ 5.08
Forfeited ..................................................... (756) $17.57
Balance, February 3, 2007 ........................................ 18,756 $ 8.64
Granted ...................................................... 939 $26.68
Exercised .................................................... (8,480) $ 7.65
Forfeited ..................................................... (350) $20.16
Balance, February 2, 2008 ........................................ 10,865 $10.60
Granted ...................................................... 1,362 $49.95
Exercised .................................................... (2,279) $12.70
Forfeited ..................................................... (257) $36.12
Balance, January 31, 2009 ........................................ 9,691 $14.96
The following table summarizes information as of January 31, 2009 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 ...................... 3,518 2.36 $ 2.25 3,518 $ 2.25
$ 5.90 - $ 6.36 ...................... 134 4.20 $ 6.01 134 $ 6.01
$ 7.55 - $ 8.24 ...................... 142 5.00 $ 7.70 142 $ 7.70
$ 9.00 - $10.63 ...................... 2,390 5.25 $ 9.70 2,390 $ 9.70
$17.94 - $20.68 ...................... 1,622 6.97 $20.28 935 $19.98
$26.68 - $26.68 ...................... 650 8.03 $26.68 147 $26.68
$49.95 - $49.95 ...................... 1,235 9.02 $49.95 — $ —
$ 1.76 - $49.95 ...................... 9,691 5.14 $14.96 7,266 $ 7.65
The total intrinsic value of options exercised during the fiscal years ended January 31, 2009, February 2, 2008
and February 3, 2007 was $87,864, $264,094, and $123,788, respectively. The intrinsic value of options exercisable
and options outstanding was $124,710 and $127,525, respectively, as of January 31, 2009.
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 January 31, 2009 and 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 $15,423, $15,803 and $16,629, respectively, in selling, general and administrative expenses.
As of January 31, 2009, the unrecognized compensation expense related to the unvested portion of the Company’s
stock options was $14,332 which is expected to be recognized over a weighted average period of 1.9 years.
F-29
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)