Petsmart 2011 Annual Report Download - page 73

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PetSmart, Inc. and Subsidiaries
Notes to the Consolidated Financial Statements — (Continued)
Year Ended January 30, 2011
Shares
Weighted-Average
Exercise Price
Weighted-Average
Remaining
Contractual Term
Aggregate
Intrinsic Value
Outstanding at beginning of year . . . 7,309 $19.65
Granted ....................... 1,391 $31.78
Exercised ...................... (2,492) $18.00 $ 38,237
Forfeited/cancelled .............. (223) $22.01
Outstanding at end of year ........ 5,985 $23.07 4.23 $102,326
Vested and expected to vest at end of
year ........................ 5,788 $22.95 4.18 $ 99,690
Exercisable at end of year ......... 2,636 $21.72 2.96 $ 48,624
Year Ended January 31, 2010
Shares
Weighted-Average
Exercise Price
Weighted-Average
Remaining
Contractual Term
Aggregate
Intrinsic Value
Outstanding at beginning of year .... 7,080 $19.77
Granted ........................ 1,696 $16.97
Exercised ...................... (733) $10.52 $ 9,810
Forfeited/cancelled ............... (734) $23.69
Outstanding at end of year ......... 7,309 $19.65 4.29 $51,205
Vested and expected to vest at end of
year ......................... 7,026 $19.72 4.23 $48,978
Exercisable at end of year ......... 4,028 $19.64 3.38 $29,128
Restricted Stock
We may grant restricted stock under the 2011 Equity Incentive Plan. Under the terms of the plan, employees
may be awarded shares of our common stock, subject to approval by the Board of Directors. The employee may
be required to pay par value for the shares depending on their length of service. The shares of common stock
awarded under the plan are subject to a reacquisition right held by us. In the event that the award recipient’s
employment by, or service to, us is terminated for any reason other than death or disability, we are entitled to
simultaneously and automatically reacquire for no consideration all of the unvested shares of restricted common
stock previously awarded to the recipient.
Restricted stock activity in our restricted stock plan is as follows (in thousands):
Year Ended
January 29, 2012 January 30, 2011 January 31, 2010
Shares
Weighted-Average
Grant Date
Fair Value Shares
Weighted-Average
Grant Date
Fair Value Shares
Weighted-Average
Grant Date
Fair Value
Nonvested at beginning of year .... 1,188 $24.85 1,898 $24.38 2,685 $25.50
Granted ...................... 24 $40.78 39 $32.47 82 $18.05
Vested ....................... (543) $31.35 (611) $23.94 (599) $28.58
Forfeited ...................... (57) $19.89 (138) $24.53 (270) $24.29
Nonvested at end of year ......... 612 $20.20 1,188 $24.85 1,898 $24.38
F-21