Ross 2007 Annual Report Download - page 61

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The following table summarizes information about the weighted average remaining contractual life (in years) and the weighted
average exercise prices for stock options both outstanding and exercisable as of February 2, 2008 (number of shares in
thousands):
Options outstanding Options exercisable
Number of Remaining Exercise Number of Exercise
Exercise price range shares life price shares price
$ 6.68 to $ 18.89 1,383 2.24 $ 12.51 1,383 $ 12.51
$ 18.90 to $ 26.47 1,386 5.64 $ 22.01 1,254 $ 21.75
$ 26.50 to $ 28.26 1,329 7.22 $ 27.64 934 $ 27.62
$ 28.28 to $ 28.69 1,369 7.05 $ 28.60 834 $ 28.60
$ 28.71 to $ 34.37 1,152 7.83 $ 31.94 486 $ 29.75
$ 6.68 to $ 34.37 6,619 5.92 $ 24.25 4,891 $ 22.22
During fiscal 2007, 2006 and 2005, restricted stock awards totaling 568,000, 569,000 and 892,000 shares, respectively, were
issued under the 2004 Plan, and 43,000, 149,000 and 200,000 shares were forfeited during each respective year. The market
value of these shares at the date of grant is amortized to expense ratably over the vesting period of generally three to four
years. The unamortized compensation expense at February 2, 2008 and February 3, 2007 was $29.6 million and $27.4 million,
respectively. During fiscal 2007, 2006 and 2005, shares purchased by the Company for tax withholding totaled 125,000, 133,400
and 233,300 shares, respectively, and are considered treasury shares which are available for reissuance. At February 2, 2008,
the Company held 965,000 shares of treasury stock. As of February 2, 2008 and February 3, 2007, shares of unvested restricted
stock subject to repurchase totaled 2.0 million and 2.0 million shares, respectively. A total of 2,709,000, 3,278,000 and 3,846,000
shares were available for new restricted stock awards at the end of fiscal 2007, 2006 and 2005, respectively.
Performance share awards. Beginning in fiscal 2007, the Company initiated a performance share award program for senior
executives. A performance share award represents a right to receive shares of common stock on a specified settlement date
based on the Company’s attainment of a profitability-based performance goal during a performance period. If attained, the
common stock then granted vests over a specified remaining service period, generally two years. The Company recognized
$0.6 million of expense related to performance share awards in fiscal 2007.
Employee Stock Purchase Plan. Under the Employee Stock Purchase Plan, eligible full-time employees participating in the
annual offering period can choose to have up to the lesser of 10% or $21,250 of their annual base earnings withheld to purchase
the Company’s common stock. The purchase price of the stock is the lower of 85% of the market price at the beginning of the
offering period, or end of the offering period. During fiscal 2007, 2006 and 2005, employees purchased approximately 214,000,
183,000 and 190,000 shares, respectively, of the Company’s common stock under the plan at weighted average per share prices
of $21.73, $24.86 and $23.59, respectively. Through February 2, 2008, approximately 8,739,000 shares had been issued under
this plan and 1,261,000 shares remained available for future issuance.