Morgan Stanley 2009 Annual Report Download - page 208

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table sets forth activity relating to the Company’s stock options (option data in millions):
2009
One Month Ended
December 31, 2008
Number of
Options
Weighted
Average
Exercise
Price
Number of
Options
Weighted
Average
Exercise
Price
Options outstanding at beginning of period .................... 99 $49.90 100 $49.88
Canceled ............................................... (17) 43.24 (1) 47.15
Options outstanding at end of period(1) ....................... 82 $51.29 99 $49.90
Options exercisable at end of period .......................... 82 $51.24 86 $47.57
(1) As of December 31, 2009 and December 31, 2008, 82 million and 98 million, awards, respectively, with a weighted average exercise
price of $51.28 and $49.66, respectively, were vested or expected to vest.
The total intrinsic value of stock options exercised during fiscal 2008 and fiscal 2007 was $211 million and $707
million, respectively. There were no stock options exercised during 2009 or the one month ended December 31,
2008.
As of December 31, 2009, the intrinsic value of in-the-money exercisable stock options was not material. As of
December 31, 2008, there were no exercisable in-the-money stock options.
The following tables present information relating to the Company’s stock options outstanding as of
December 31, 2009 and December 31, 2008 (number of options outstanding data in millions):
At December 31, 2009 Options Outstanding Options Exercisable
Range of Exercise Prices
Number
Outstanding
Weighted Average
Exercise Price
Average
Remaining
Life (Years)
Number
Exercisable
Weighted Average
Exercise Price
Average
Remaining
Life (Years)
$22.00 – $39.99 ...... 11 $36.22 3.0 11 $36.22 3.0
$40.00 – $49.99 ...... 34 47.25 3.3 34 47.25 3.3
$50.00 – $59.99 ...... 20 53.79 0.8 20 53.79 0.8
$60.00 – $69.99 ...... 16 66.65 5.7 16 66.65 5.7
$70.00 – $91.99 ...... 1 80.25 1.1 1 81.04 0.6
Total ............... 82 82
At December 31, 2008 Options Outstanding Options Exercisable
Range of Exercise Prices
Number
Outstanding
Weighted Average
Exercise Price
Average
Remaining
Life (Years)
Number
Exercisable
Weighted Average
Exercise Price
Average
Remaining
Life (Years)
$22.00 – $39.99 ...... 19 $34.21 2.5 19 $34.21 2.5
$40.00 – $49.99 ...... 38 47.17 4.1 38 47.21 4.1
$50.00 – $59.99 ...... 23 53.65 1.7 23 53.65 1.7
$60.00 – $69.99 ...... 18 66.60 6.7 5 66.31 3.9
$70.00 – $91.99 ...... 1 80.47 1.7 1 81.06 1.2
Total ............... 99 86
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