Johnson and Johnson 2014 Annual Report Download - page 57

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A summary of option activity under the Plan as of December 28, 2014, December 29, 2013 and December 30, 2012, and
changes during the years ending on those dates is presented below:
(Shares in Thousands)
Outstanding
Shares
Weighted
Average
Exercise Price
Aggregate
Intrinsic
Value
(Dollars in
Millions)
Shares at January 1, 2012 179,459 $60.10 $1,004
Options granted 8,661 65.36
Options exercised (49,388) 56.73
Options canceled/forfeited (4,381) 62.97
Shares at December 30, 2012 134,351 61.58 1,061
Options granted 29,010 72.54
Options exercised (41,357) 59.99
Options canceled/forfeited (2,448) 65.89
Shares at December 29, 2013 119,556 64.70 3,306
Options granted 24,356 90.44
Options exercised (25,319) 62.31
Options canceled/forfeited (2,881) 75.48
Shares at December 28, 2014 115,712 $70.37 $4,014
The total intrinsic value of options exercised was $954 million, $941 million and $547 million in 2014, 2013 and 2012,
respectively.
The following table summarizes stock options outstanding and exercisable at December 28, 2014:
(Shares in Thousands) Outstanding Exercisable
Exercise Price Range Options
Average
Life(1)
Average
Exercise
Price Options
Average
Exercise
Price
$52.13-$58.33 10,182 4.1 $58.32 10,182 $58.32
$58.34-$62.20 24,179 3.1 $60.68 23,653 $60.64
$62.62-$65.62 25,630 4.4 $64.60 18,346 $64.30
$65.80-$72.54 32,252 6.6 $71.43 5,661 $66.20
$90.44-$100.48 23,469 9.1 $90.44 4 $90.44
115,712 5.7 $70.37 57,846 $61.94
(1) Average contractual life remaining in years.
Stock options outstanding at December 29, 2013 and December 30, 2012 were 119,556 and an average life of 5.1 years
and 134,351 and an average life of 4.3 years, respectively. Stock options exercisable at December 29, 2013 and
December 30, 2012 were 75,210 at an average price of $62.01 and 104,860 at an average price of $61.15, respectively.
Restricted Share Units and Performance Share Units
The Company grants restricted share units which vest over service periods that range from 6 months to 3 years. The
Company also grants performance share units, which are paid in shares of Johnson & Johnson Common Stock after the
end of a three-year performance period. Whether any performance share units vest, and the amount that does vest, is tied
to the completion of service periods that range from 6 months to 3 years and the achievement, over a three-year period, of
three equally-weighted goals that directly align with or help drive long-term total shareholder return: sales, adjusted
operational earnings per share, and relative total shareholder return. The number of shares actually earned at the end of
the three-year period will vary, based only on actual performance, from 0% to 200% of the target number of performance
share units granted.
Johnson & Johnson 2014 Annual Report •47