Southwest Airlines 2011 Annual Report Download - page 117
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Aggregated information regarding Company issued stock options is summarized below:
COLLECTIVE BARGAINING PLANS
Options
(000)
Wtd.
average
exercise
price
Wtd.
average
remaining
contractual
term
Aggregate
intrinsic
value
(millions)
Outstanding December 31, 2008 .............................. 55,412 $13.90
Granted .................................................. 81 7.66
Exercised ................................................ (11) 8.25
Surrendered .............................................. (3,044) 16.29
Outstanding December 31, 2009 .............................. 52,438 $13.75
Granted .................................................. 14 11.98
Exercised ................................................ (2,676) 12.68
Surrendered .............................................. (18,381) 12.88
Outstanding December 31, 2010 .............................. 31,395 $14.34
Granted .................................................. — —
Exercised ................................................ (38) 10.65
Surrendered .............................................. (837) 14.87
Outstanding December 31, 2011 .............................. 30,520 $14.33 1.0 $—
Vested or expected to vest at December 31, 2011 ................. 30,520 $14.33 1.0 $—
Exercisable at December 31, 2011 ............................. 30,469 $14.33 1.0 $—
OTHER EMPLOYEE PLANS
Options
(000)
Wtd.
average
exercise
price
Wtd.
average
remaining
contractual
term
Aggregate
intrinsic
value
(millions)
Outstanding December 31, 2008 ............................... 26,489 $15.57
Granted .................................................. 1,824 6.75
Exercised ................................................. (570) 10.36
Surrendered ............................................... (1,999) 14.05
Outstanding December 31, 2009 ............................... 25,744 $15.17
Granted .................................................. 10 12.04
Exercised ................................................. (673) 9.55
Surrendered ............................................... (5,494) 15.72
Outstanding December 31, 2010 ............................... 19,587 $15.22
Granted .................................................. — —
Exercised ................................................. (143) 6.97
Surrendered ............................................... (2,640) 18.18
Outstanding December 31, 2011 ............................... 16,804 $14.82 3.2 $3
Vested or expected to vest at December 31, 2011 .................. 16,655 $14.81 3.2 $3
Exercisable at December 31, 2011 ............................. 14,688 $15.03 3.1 $2
The total aggregate intrinsic value of options exercised for all plans during the years ended December 31,
2011, 2010, and 2009, was $1 million, $4 million, and $1 million, respectively. The total grant date fair value of
shares vesting during the years ended December 31, 2011, 2010, and 2009, was $13 million, $10 million, and
$12 million, respectively.
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