Ross 2010 Annual Report Download - page 50

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48
The following table summarizes the Company’s stock repurchase activity in fi scal 2010, 2009, and 2008:
Shares repurchased Average repurchase Repurchased
Fiscal Year (in millions) price (in millions)
2010 6.7 $ 55.72 $ 375
2009 7.4 $ 40.68 $ 300
2008 9.3 $ 32.09 $ 300
Preferred stock. The Company has four million shares of preferred stock authorized, with a par value of $.01 per share. No
preferred stock is issued or outstanding.
Dividends. In January 2011, the Company’s Board of Directors declared a quarterly cash dividend of $.22 per common share,
payable on March 31, 2011. The Company’s Board of Directors declared quarterly cash dividends of $.16 per common share in
January, May, August, and November 2010, cash dividends of $.11 per common share in January, May, August, and November
2009, and cash dividends of $.095 per common share in January, May, August, and November 2008.
2008 Equity Incentive Plan. In 2008, the Company’s stockholders approved the adoption of the Ross Stores, Inc. 2008 Equity
Incentive Plan (the “2008 Plan”) with an initial share reserve of 8.3 million shares of the Company’s common stock, of which
6.0 million shares can be issued as full value awards. The 2008 Plan provides for various types of incentive awards, which may
potentially include the grant of stock options, stock appreciation rights, restricted stock purchase rights, restricted stock bonuses,
restricted stock units, performance shares, performance units, and deferred compensation awards. As of January 29, 2011, there
were 4.4 million shares that remained available for grant under the 2008 Plan.
A summary of the stock option activity for fi scal 2010 is presented below.
Weighted
Weighted average
average remaining Aggregate
Number of exercise contractual intrinsic
(000, except per share data) shares price term value
Outstanding at January 30, 2010 2,773 $ 25.53
Granted — —
Exercised (1,157) 25.55
Forfeited (7) 22.15
Outstanding at January 29, 2011, all vested 1,609 $ 25.53 3.49 $ 64,266
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 January 29, 2011 (number of shares in thousands):
Options outstanding Options exercisable
Number of Remaining Exercise Number of Exercise
Exercise price range shares life price shares price
$ 9.88 to $ 24.47 552 2.02 $ 19.87 552 $ 19.87
24.54 to 28.61 617 4.22 27.48 617 27.48
28.62 to 34.37 440 4.30 29.88 440 29.88
$ 9.88 to $ 34.37 1,609 3.49 $ 25.53 1,609 $ 25.53