Pottery Barn 2007 Annual Report Download - page 67

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The following table summarizes information about stock options outstanding at February 3, 2008:
Stock Options Outstanding
Stock Options
Exercisable
Range of Exercise Prices
Number
Outstanding
Weighted
Average
Contractual
Term Remaining
(Years)
Weighted
Average
Exercise
Price
Number
Exercisable
Weighted
Average
Exercise
Price
$ 8.31 – $ 13.66 1,672,238 2.01 $10.70 1,672,238 $10.70
$ 13.85 – $ 18.25 1,331,072 2.24 15.04 1,331,072 15.04
$ 18.31 – $ 32.31 1,714,709 5.13 26.07 1,366,011 25.48
$ 32.39 – $ 38.84 1,617,760 6.84 36.67 864,020 35.97
$ 39.77 – $ 43.85 295,370 7.81 41.57 172,900 41.13
$ 8.31 – $ 43.85 6,631,149 4.30 $23.26 5,406,241 $20.52
Stock-Settled Stock Appreciation Rights
A stock-settled stock appreciation right is an award that allows the recipient to receive common stock equal to
the appreciation in the fair market value of our common stock between the date the award was granted and the
conversion date for the number of shares vested.
The following table summarizes our stock-settled stock appreciation right activity during fiscal 2007 and fiscal
2006 (no stock-settled stock appreciation rights were granted prior to fiscal 2006):
Shares
Weighted Average
Conversion Price1
Weighted Average
Contractual Term
Remaining (Years)
Intrinsic
Value2
Balance at January 29, 2006 (52 Weeks) — —
Granted (weighted average fair value of $12.37) 2,111,550 $36.23
Converted — — —
Canceled (132,700) 39.43
Balance at January 28, 2007 (52 Weeks) 1,978,850 $36.01
Granted (weighted average fair value of $11.56) 1,539,200 $34.42
Converted — — —
Canceled (231,580) 36.07
Balance at February 3, 2008 (53 Weeks) 3,286,470 $35.27 8.79 $7,000
Vested at February 3, 2008 291,714 $36.32 8.33 $ —
Vested plus expected to vest at February 3, 2008 2,705,563 $35.34 8.77 $5,000
1Conversion price is defined as the price from which stock-settled stock appreciation rights are measured and is equal to the
market value on the date of issuance.
2Intrinsic value for activities other than conversions is defined as the difference between the grant price and the current
market value on the last business day of the fiscal year (or $27.52), for those stock-settled stock appreciation rights where
the market value is greater than the conversion price. For conversions, intrinsic value is defined as the difference between
the grant price and the market value on the date of the conversion.
57
Form 10-K