Papa Johns 2000 Annual Report Download - page 66

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61
17. Stock Options (continued)
The number, weighted-average exercise price and weighted-average remaining contractual life of options
outstanding as of December 31, 2000, and the number and weighted average exercise price of options
exercisable as of December 31, 2000 follow (number of options in thousands):
Range of Number of Weighted-Average Weighted-Average
Exercise Prices Options Exercise Price Remaining Life
Outstanding options: $5.78 - $9.99 22 $7.25 2.82
10.00 - 19.99 544 16.34 4.72
20.00 - 29.99 2,381 25.33 7.27
30.00 - 45.56 2,322 34.87 7.07
Total 5,269 $28.53 6.90
Exercisable options: $5.78 - $9.99 22 $7.25
10.00 - 19.99 478 16.08
20.00 - 29.99 1,408 25.78
30.00 - 45.56 1,486 34.39
Total 3,394 $28.06
Plan provisions provide that excess available shares under the 1993 Plan may be transferred to the 1999
Plan. As of December 31, 2000, 816,000 shares were available for future issuance under the 1993 and
1999 plans and 92,000 shares under the Directors Plan.
18. Defined Contribution Benefit Plan
We have established the Papa John’ s International, Inc. 401(k) Plan (the “Plan”), as a defined contribution
benefit plan, in accordance with Section 401(k) of the Internal Revenue Code. The Plan is open to all
employees who meet certain eligibility requirements and allows participating employees to defer receipt of
a portion of their compensation and contribute such amount to one or more investment funds. Effective
July 1, 1999, we began contributing up to 1.5% of a participating employee’ s earnings. Costs of the Plan
recognized in 2000 and 1999 were $402,000 and $146,000, respectively. Administrative costs of the Plan
are paid by us and are not significant.
19. Segment Information
We have defined four reportable segments: domestic restaurants, domestic commissaries, domestic
franchising and international operations. In the prior year, international operations were not identified as a
separate reportable segment. However, the acquisition of Perfect pizza in late 1999 (see Note 3), and the
continued growth of our other international operations, resulted in the addition of international operations as
a separate reportable segment in 2000. Prior year segment information has been restated to conform to
the current year presentation.