GameStop 2011 Annual Report Download - page 103

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GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The total intrinsic value of options exercised during the fiscal years ended January 28, 2012, January 29,
2011 and January 30, 2010 was $16.0 million, $59.9 million, and $3.7 million, respectively. The intrinsic value
of options exercisable and options outstanding was $25.3 million and $28.2 million, respectively, as of
January 28, 2012.
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 28, 2012,
January 29, 2011 and January 30, 2010, the Company included compensation expense relating to the grant of
these options in the amount of $6.4 million, $12.2 million and $11.5 million, respectively, in selling, general and
administrative expenses. As of January 28, 2012, the unrecognized compensation expense related to the unvested
portion of the Company’s stock options was $2.8 million, which is expected to be recognized over a weighted
average period of 1.1 years.
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.
The following table presents a summary of the Company’s restricted stock awards activity:
Shares
Weighted-
Average
Grant Date
Fair Value
(Millions of shares)
Nonvested shares at January 31, 2009 .................................. 1.3 $35.89
Granted ........................................................ 0.6 $25.82
Vested ......................................................... (0.6) $31.91
Forfeited ....................................................... — $33.78
Nonvested shares at January 30, 2010 .................................. 1.3 $32.94
Granted ........................................................ 0.7 $20.43
Vested ......................................................... (0.6) $33.05
Forfeited ....................................................... (0.2) $23.07
Nonvested shares at January 29, 2011 .................................. 1.2 $26.27
Granted ........................................................ 0.5 $20.90
Vested ......................................................... (0.6) $30.86
Forfeited ....................................................... — $21.61
Nonvested shares at January 28, 2012 .................................. 1.1 $21.57
The restricted stock granted in the 52 weeks ended January 28, 2012, January 29, 2011 and January 30, 2010
vest in equal annual installments over three years.
During the 52 weeks ended January 28, 2012, January 29, 2011 and January 30, 2010, the Company
included compensation expense relating to the grant of these restricted shares in the amounts of $12.4 million,
$17.4 million and $26.3 million, respectively, in selling, general and administrative expenses in the
accompanying consolidated statements of operations. As of January 28, 2012, there was $10.9 million of
unrecognized compensation expense related to nonvested restricted stock awards that is expected to be
recognized over a weighted average period of 1.7 years.
F-29