Hibbett Sports 2005 Annual Report Download - page 51

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
A summary of the status of the Company’s stock option plan is as follows:
For the Fiscal Years Ended
January 29, 2005 January 31, 2004 February 1, 2003
Weighted Weighted Weighted
Average Average Average
Exercise Exercise Exercise
Shares Price Shares Price Shares Price
Outstanding at beginning
of year 999,850 $ 8.87 1,210,285 $ 7.33 1,293,684 $ 6.28
Granted 232,875 22.69 298,911 11.11 309,768 9.83
Exercised (213,975) 7.56 (501,426) 6.50 (331,641) 5.17
Forfeited (11,509) 14.99 (7,920) 9.69 (61,526) 7.67
Outstanding at end of year 1,007,241 $12.27 999,850 $ 8.87 1,210,285 $ 7.33
Exercisable at end of year 224,954 $17.99 157,323 $ 7.48 392,073 $ 6.36
Weighted average fair value
of options granted $14.74 $ 7.41 $ 6.83
The following table summarizes information about stock options outstanding at January 29, 2005:
Options Outstanding Options Exercisable
Options Weighted Options
Outstanding Average Weighted Exercisable Weighted
at Remaining Average at Average
Range of January 29, Contractual Exercise January 29, Exercise
Exercise Prices 2005 Life (years) Price 2005 Price
$01.81 to $04.74 93,665 4.35 $24.37 42,697 $24.02
$05.26 to $08.29 41,928 4.33 $26.01 37,203 $25.90
$08.85 to $09.82 374,120 6.60 $29.42 111,110 $29.27
$10.21 to $11.11 269,078 8.12 $11.10 33,944 $11.09
$18.41 to $25.71 228,450 9.07 $22.69 -- 2222--
The tax benefit associated with the exercise of stock options is credited to paid-in capital and amounted
to approximately $1,569,000 in fiscal 2005, $1,510,000 in fiscal 2004 and $706,000 in fiscal 2003.
Other Plans
The Company maintains an Employee Stock Purchase Plan and an Outside Director Stock Plan and has
reserved 253,125 shares and 393,750 shares of the Company’s common stock, respectively, for purchase
by the employees and directors at 85% and 100% of the fair value of the common stock, respectively.
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