Pottery Barn 2011 Annual Report Download - page 70
Download and view the complete annual report
Please find page 70 of the 2011 Pottery Barn annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60 -
61 -
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78 -
79 -
80 -
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
 |
 |
Stock Options
The following table summarizes our stock option activity during fiscal 2011:
Shares
Weighted
Average
Exercise
Price
Weighted Average
Contractual Term
Remaining (Years)
Intrinsic
Value1
Balance at January 30, 2011 1,367,629 $28.81
Granted 0 0
Exercised (429,773) 22.37 $7,343,000
Canceled (3,160) 29.20
Balance at January 29, 2012 (100% vested) 934,696 $31.76 2.25 $4,338,000
1Intrinsic value for outstanding and vested options is based on the excess, if any, of the market value on the last business day
of the fiscal year (or $35.12) over the exercise price. For exercises, intrinsic value is based on the excess of the market
value over the exercise price on the date of exercise.
The following table summarizes information about stock options outstanding at January 29, 2012:
Stock Options Outstanding and Exercisable
Range of Exercise Prices
Number
Outstanding
Weighted Average
Contractual Term
Remaining (Years)
Weighted
Average
Exercise
Price
$ 20.90 – $ 27.00 235,859 1.02 $22.23
$ 27.25 – $ 32.39 273,780 2.21 31.10
$ 32.80 – $ 38.84 328,557 2.60 36.70
$ 39.80 – $ 41.99 96,500 4.19 40.15
$ 20.90 – $ 41.99 934,696 2.25 $31.76
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 2011:
Shares
Weighted
Average
Conversion
Price1
Weighted Average
Contractual Term
Remaining (Years)
Intrinsic
Value2
Balance at January 30, 2011 3,429,200 $13.81
Granted (weighted average fair value of $14.27)
1,489,452 40.36
Converted into common stock (675,815) 9.84 $18,969,000
Canceled (301,195) 19.02
Balance at January 29, 2012 3,941,642 $24.13 6.52 $51,284,000
Vested at January 29, 2012 1,474,509 $15.64 6.42 $29,116,000
Vested plus expected to vest at January 29, 2012 3,308,095 $23.76 6.52 $43,855,000
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 based on the excess, if any, of the market value on the last business day
of the fiscal year (or $35.12) over the conversion price. For conversions, intrinsic value is based on the excess of the
market value over the conversion price on the date of the conversion.
56