Pottery Barn 2010 Annual Report Download - page 71

The following table summarizes information about stock options outstanding at January 30, 2011:
Stock Options Outstanding and Exercisable
Range of Exercise Prices
Number
Outstanding
Weighted Average
Contractual Term
Remaining (Years)
Weighted
Average
Exercise
Price
$ 12.43 – $ 21.80 386,381 1.53 $19.94
$ 22.25 – $ 30.02 325,318 1.89 25.10
$ 32.31 – $ 32.80 290,530 2.49 32.56
$ 33.66 – $ 39.80 348,900 4.53 38.34
$ 40.05 – $ 41.99 16,500 4.55 41.83
$ 12.43 – $ 41.99 1,367,629 2.62 $28.81
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 2010:
Shares
Weighted
Average
Conversion
Price1
Weighted Average
Contractual Term
Remaining (Years)
Intrinsic
Value2
Balance at January 31, 2010 4,547,975 $13.40
Granted (weighted average fair value of $10.21) 369,375 $27.80
Converted (946,650) $ 8.68 $20,252,000
Canceled (541,500) $28.88
Balance at January 30, 2011 3,429,200 $13.81 7.69 $64,657,000
Vested at January 30, 2011 1,246,010 $14.98 7.30 $22,484,000
Vested plus expected to vest at January 30, 2011 3,082,237 $13.88 7.66 $58,008,000
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 grant.
2Intrinsic value for outstanding and vested rights is defined as the excess of the market value on the last business day of the
fiscal year (or $32.34) over the conversion price, if any. For conversions, intrinsic value is defined as the excess of the
market value over the conversion price on the date of the conversion.
The following table summarizes information about stock-settled stock appreciation rights outstanding at
January 30, 2011:
Stock-Settled
Stock Appreciation
Rights Outstanding
Stock-Settled Stock
Appreciation
Rights Vested
Range of Conversion Prices
Number
Outstanding
Weighted Average
Contractual Term
Remaining (Years)
Weighted
Average
Conversion
Price
Number
Vested
Weighted
Average
Conversion
Price
$ 8.01 – $ 8.31 52,950 7.89 $ 8.08 17,650 $ 8.08
$ 8.56 – $ 8.56 2,567,525 7.77 8.56 915,900 8.56
$ 19.14 – $ 34.89 724,645 7.69 29.75 243,900 32.43
$ 39.05 – $ 39.05 2,240 5.32 39.05 2,080 39.05
$ 40.44 – $ 40.44 81,840 5.12 40.44 66,480 40.44
$ 8.01 – $ 40.44 3,429,200 7.69 $13.81 1,246,010 $14.98
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Form 10-K