INTL FCStone 2011 Annual Report Download - page 101

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INTL FCSTONE INC.Form10K 87
PART II
ITEM 8 Consolidated Financial Statements and Supplementary Data
e options outstanding as of September30,2011 broken down by exercise price are as follows:
Exercise Price
Number of Options
Outstanding
Weighted Average
Exercise Price
Weighted Average
Remaining Term
(in Years)
$ — - $ 5.00 168,874 $ 2.48 1.42
$ 5.00 - $ 10.00 420,664 $ 7.04 3.11
$ 10.00 - $ 15.00 8,823 $ 14.56 1.64
$ 15.00 - $ 20.00 355,889 $ 18.19 3.32
$ 20.00 - $ 25.00 55,536 $ 23.48 2.86
$ 25.00 - $ 30.00 41,481 $ 27.56 0.19
$ 30.00 - $ 35.00 1,476 $ 34.25 0.84
$ 35.00 - $ 40.00 — n/a n/a
$ 40.00 - $ 45.00 — n/a n/a
$ 45.00 - $ 50.00 — n/a n/a
$ 50.00 - $ 55.00 291,903 $ 54.23 4.10
1,344,646 $ 21.05 3.06
Restricted Stock Plan
e Company sponsors a restricted stock plan for its directors, offi cers and employees. As of September30,2011, 290,963shares
were authorized for future grant under our restricted stock plan. Awards that expire or are canceled generally become available for
issuance again under the plan. e Company utilizes newly issuedshares of common stock to make restricted stock grants.
e following is a summary of restricted stock activity through September30,2011:
Shares
Available
for Grant
Number
of Shares
Outstanding
Weighted Average
GrantDate
FairValue
Weighted Average
Remaining Term
(in years)
Aggregate
Intrinsic Value
($ millions)
Balances at September30,2010 430,882 240,368 $ 13.66 2.13 $ 4.4
Granted (139,919) 139,919 $ 24.27
Vested (81,169) $ 17.01
BALANCES AT SEPTEMBER30,2011 290,963 299,118 $ 17.71 1.92 $ 6.2
e total compensation cost not yet recognized of $3.8million as of September30,2011 has a weighted-average period of 1.92
years over which the compensation expense is expected to be recognized. Compensation expense is amortized on a straight-line
basis over the vesting period. Restricted stock grants are included in the Company’s total issued and outstanding commonshares.
NOTE 17 Retirement Plans
Defi ned Benefi t Retirement Plans
As a result of its acquisition of FCStone, the Company has a
qualifi ed and a nonqualifi ed noncontributory retirement plan,
which are defi ned benefi t plans that cover certain employees.
Prior to acquisition, the plans were closed to new employees,
and amended to freeze all future benefi t accruals, therefore no
additional benefi ts accrue for active participants under the plans.
e Company’s funding policy as it relates to these plans is to
fund amounts that are intended to provide for benefi ts attributed
to service to date.