Ingram Micro 2013 Annual Report Download - page 65
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Table of Contents
INGRAM MICRO INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
(In 000s, except per share data)
of the Board of Directors determined that the performance measures for certain performance-based grants were not met, resulting in the cancellation of
approximately 772 restricted stock units.
Stock option activity under the 2011 Amended Plan was as follows for the three years ended December 28, 2013:
No. of Shares
Weighted-
Average
Price
Weighted-Average
Remaining
Contractual
Term
(in Years)
Aggregate
Intrinsic
Value
Outstanding at January 1, 2011 10,415
$ 16.41
3.7
Granted 40
19.62
Exercised (2,397)
15.44
Forfeited/cancelled/expired (42)
16.25
Outstanding at December 31, 2011 8,016
16.72
2.8
Granted 51
18.31
Exercised (2,116)
14.80
Forfeited/cancelled/expired (306)
18.37
Outstanding at December 29, 2012 5,645
17.36
2.7
Granted 1,452
25.70
Exercised (2,619)
16.56
Forfeited/cancelled/expired (291)
20.14
Outstanding at December 28, 2013 4,187
20.56
3.1
$15,469
Vested and expected to vest at December 28, 2013 4,022
20.34
3.1
$15,469
Exercisable at December 28, 2013 2,783
17.83
2.7
$15,444
The aggregate intrinsic value in the table above represents the difference between our closing stock price on December 28, 2013 and the option exercise
price, multiplied by the number of in-the-money options on December 28, 2013. This amount changes based on the fair market value of our common stock.
Total intrinsic value of stock options exercised in 2013, 2012 and 2011 was $11,655, $8,273 and $9,999, respectively. Total fair value of stock options
expensed was $458, $298 and $251 for 2013, 2012 and 2011, respectively. As of December 28, 2013, the unrecognized stock-based compensation costs
related to stock options was $4,803. We expect this cost to be recognized over a remaining weighted-average period of approximately 2.9 years.
Cash received from stock option exercises in 2013, 2012 and 2011 was $43,384, $31,335 and $39,465, respectively, and the actual benefit realized for
the tax deduction from stock option exercises of the share-based payment awards totaled $3,785, $2,975 and $3,248 in 2013, 2012 and 2011, respectively.
The following table summarizes information about stock options outstanding and exercisable at December 28, 2013:
Options Outstanding
Options Exercisable
Range of Exercise Prices
Number
Outstanding at
December 28,
2013
Weighted-
Average
Remaining
Life
Weighted-
Average
Exercise
Price
Number
Exercisable at
December 28,
2013
Weighted-
Average
Exercise
Price
$10.62 – $17.80 1,296
2.8
$15.96
1,292
$15.96
$17.92 – $20.70 1,474
2.6
19.43
1,474
19.43
$20.80 – $21.60 17
3.2
21.50
17
21.50
$26.00 – $26.00 1,400
3.9
26.00
—
—
4,187
3.1
20.56
2,783
17.83
65