INTL FCStone 2012 Annual Report Download - page 106
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PART II
ITEM 8 Financial Statements and Supplementary Data
e following is a summary of stock option activity for the year ended September30, 2012:
Shares
Available
for Grant
Numberof
Options
Outstanding
Weighted
Average
Exercise Price
Weighted Average
Grant Date
Fair Value
Weighted Average
Remaining Term
(in years)
Aggregate
Intrinsic Value
($ millions)
Balances at September30, 2011 750,481 1,344,646 $ 21.05 $ 8.93 3.06 $ 9.8
Additional shares authorized by
shareholders 1,000,000
Granted (925,000) 925,000 $ 25.71 $ 13.57
Exercised (212,160) $ 8.68 $ 6.11
Forfeited 46,500 (46,500) $ 25.74 $ 13.53
Expired 49,431 (120,352) $ 40.56 $ 13.54
Balances at September30, 2012 921,412 1,890,634 $ 23.36 $ 11.11 5.45 $ 6.0
Exercisable at September30, 2012 695,702 $ 26.84 $ 11.13 2.63 $ 2.7
e total compensation cost not yet recognized for non-vested awards of $11.6 million as of September30, 2012 has a weighted-
average period of 6.09 years over which the compensation expense is expected to be recognized. e total intrinsic value of options
exercised during scal years 2012, 2011 and 2010 was $3.0 million, $1.6 million and $1.4 million, respectively.
e options outstanding as of September30, 2012 broken down by exercise price are as follows:
Exercise Price
Number of Options
Outstanding
Weighted Average
Exercise Price
Weighted Average
Remaining Term
(in y ears)
$ — - $ 5.00 68,374 $ 2.50 0.43
$ 5.00 - $ 10.00 379,830 $ 7.03 2.13
$ 10.00 - $ 15.00 8,560 $ 14.60 0.63
$ 15.00 - $ 20.00 276,269 $ 18.12 2.75
$ 20.00 - $ 25.00 127,876 $ 23.51 4.07
$ 25.00 - $ 30.00 800,000 $ 25.91 9.22
$ 30.00 - $ 35.00 — n/a n/a
$ 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 - $ 55.00 229,725 $ 54.23 3.49
1,890,634 $ 23.36 5.45
Restricted Stock Plan
e Company sponsors a restricted stock plan for its directors,
o cers and employees. On January31, 2012, the Company’s
2007 restricted stock plan expired. On February23, 2012,
shareholders approved the Company’s 2012 restricted stock
plan authorizing up to 1.5 million shares to be issued. As of
September30, 2012, 1,420,114 shares were authorized for future
grant under the restricted stock plan. Awards that expire or are
canceled generally become available for issuance again under
the plan. e Company utilizes newly issued shares of common
stock to make restricted stock grants.