Henry Schein 2009 Annual Report Download - page 107

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HENRY SCHEIN, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
(In thousands, except share and per share data)
95
Note 14 – Employee Benefit Plans – (Continued)
The total cash received as a result of stock option exercises for the years ended December 26, 2009,
December 27, 2008 and December 29, 2007 was approximately $11.9 million, $25.6 million and $35.5
million. In connection with these exercises, the tax benefits that we realized for the years ended December
26, 2009, December 27, 2008 and December 29, 2007 were $2.6 million, $7.0 million and $10.0 million.
We settle employee stock option exercises with newly issued common shares.
The total intrinsic value of restricted stock (including RSUs) that vested was $8.7 million, $1.4 million
and $172 during the years ended December 26, 2009, December 27, 2008 and December 29, 2007. The
following table summarizes the status of our non-vested restricted shares/units for the year ended
December 26, 2009:
Shares/Units
Weighted Average
Grant Date Fair Value
Aggregate Intrinsic
Value
Outstanding at beginning of period ............. 285,225 14,771$
Granted ........................................................ 341,931 11,913
Vested ......................................................... (7,982) (333)
Forfeited ...................................................... (21,569) (689)
Outstanding at end of period ....................... 597,605 25,662$ 31,679$
Time-Based Restricted Stock/Units
Shares/Units
Weighted Average
Grant Date Fair Value
Aggregate Intrinsic
Value
Outstanding at beginning of period ............. 347,141 17,704$
Granted ........................................................ 852,211 13,495
Vested ......................................................... (179,881) (8,512)
Forfeited ...................................................... (9,509) (416)
Outstanding at end of period ....................... 1,009,962 22,271$ 53,538$
Performance-Based Restricted Stock/Units
401(k) Plans
We offer qualified 401(k) plans to substantially all our domestic full-time employees. As determined
by our Board of Directors, matching contributions to these plans generally do not exceed 100% of the
participants’ contributions up to 7% of their base compensation, subject to applicable legal limits.
Matching contributions include both cash and our common stock. Forfeitures attributable to participants
whose employment terminates prior to becoming fully vested are used to reduce our matching
contributions.
Assets of the 401(k) and other defined contribution plans are held in self-directed accounts enabling
participants to choose from various investment fund options. Matching contributions and administrative
expenses related to these plans charged to operations during the years ended December 26, 2009,
December 27, 2008 and December 29, 2007 amounted to $18.9 million, $17.3 million and $17.4 million.
Supplemental Executive Retirement Plan
We offer an unfunded, non-qualified supplemental executive retirement plan to eligible employees.
This plan generally covers officers and certain highly-compensated employees after they have reached the
maximum IRS allowed pre-tax 401(k) contribution limit. Our contributions to this plan are equal to the