Pep Boys 2009 Annual Report Download - page 131

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THE PEP BOYS—MANNY, MOE & JACK AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Years ended January 30, 2010, January 31, 2009 and February 2, 2008
(dollar amounts in thousands, except share and per share data)
NOTE 15—EQUITY COMPENSATION PLANS (Continued)
The following table summarizes information about options during the last three fiscal years (dollars
in thousands except per option amount):
Fiscal 2009 Fiscal 2008 Fiscal 2007
Weighted average fair value at grant date per
option .............................. $2.10 $3.47 $ 5.04
Intrinsic value of options exercised ........... $ 43 $ 8 $2,194
The aggregate intrinsic value of outstanding options, exercisable options and expected to vest
options at January 30, 2010 was $4,128, $284 and $3,528, respectively. At January 30, 2010, the
weighted average remaining contractual term of outstanding options, exercisable options and expected
to vest options was 4.8 years, 2.5 years and 5.9 years, respectively. At January 30, 2010, there was
approximately $1,592 of total unrecognized pre-tax compensation cost related to non-vested stock
options, which is expected to be recognized over a weighted average period of 1.5 years.
The following table summarizes information about non-vested stock awards (RSUs) since
January 31, 2009:
Number of Weighted Average
RSUs Fair Value
Nonvested at January 31, 2009 .................... 319,009 $13.66
Granted .................................. 30,927 9.18
Forfeited .................................. (8,754) 14.42
Vested ................................... (108,589) 14.04
Nonvested at January 30, 2010 .................... 232,593 $13.76
The following table summarizes information about RSUs during the last three fiscal years (dollars
in thousands except per unit amounts):
Fiscal 2009 Fiscal 2008 Fiscal 2007
Weighted average fair value at grant date per unit $ 9.18 $11.25 $15.56
Fair value at vesting date .................. $1,455 $5,441 $3,341
Intrinsic value at conversion date ............. $ 675 $1,586 $3,773
Tax benefits realized from conversions ......... $ 251 $ 589 $1,402
At January 30, 2010, there was approximately $1,510 of total unrecognized pre-tax compensation
cost related to non-vested RSUs, which is expected to be recognized over a weighted-average period of
1.2 years.
The Company recognized approximately $1,010, $641, and $3,060 of compensation expense related
to stock options, and approximately $1,565, $2,102, and $6,696 of compensation expense related to
restricted stock units, included in selling, general and administrative expenses for fiscal 2009, 2008, and
2007, respectively. The related tax benefit recognized was approximately $957, $1,019 and $3,624 for
fiscal 2009, 2008 and 2007, respectively.
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