GameStop 2009 Annual Report Download - page 96

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common shares are issued at fair market value of the underlying shares on the date of grant. In general, the options
vest and become exercisable ratably over a three-year period, commencing one year after the grant date, and expire
ten years from issuance. Shares issued upon exercise of options are newly issued shares.
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, 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
Granted ...................................................... 1,419 $26.02
Exercised .................................................... (302) $14.77
Forfeited ..................................................... (226) $35.61
Balance, January 30, 2010 ........................................ 10,582 $16.00
The following table summarizes information as of January 30, 2010 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 ...................... 3,507 1.36 $ 2.25 3,507 $ 2.25
$ 5.90 - $ 8.24 ...................... 235 3.67 $ 6.99 235 $ 6.99
$ 9.00 - $10.63 ...................... 2,291 4.24 $ 9.70 2,291 $ 9.70
$17.94 - $20.68 ...................... 1,477 5.96 $20.24 1,477 $20.24
$26.02 - $26.68 ...................... 1,929 8.40 $26.22 372 $26.68
$49.95 - $49.95 ...................... 1,143 8.02 $49.95 387 $49.95
$ 1.76 - $49.95 ...................... 10,582 4.68 $16.00 8,269 $11.00
The total intrinsic value of options exercised during the fiscal years ended January 30, 2010, January 31, 2009
and February 2, 2008 was $3,699, $87,864, and $264,094, respectively. The intrinsic value of options exercisable
and options outstanding was $87,945 as of January 30, 2010.
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 30, 2010, January 31, 2009
and February 2, 2008, the Company included compensation expense relating to the grant of these options in the
F-28
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)