Supercuts 2005 Annual Report Download - page 91

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED
Stock options outstanding and weighted average exercise prices were as follows:
At June 30, 2005, the weighted average exercise prices and remaining contractual lives of stock options were as follows:
All options granted relate to stock option plans that have been approved by the shareholders of the Company.
See Note 1 to the Consolidated Financial Statements for discussion of the Company’
s measure of compensation cost for its incentive stock
option plans, as well as pro forma information.
2004 Long Term Incentive Plan:
In May of 2004, the Company’s Board of Directors approved the 2004 Long Term Incentive Plan (2004 Plan). The 2004 Plan received
shareholder approval at the annual shareholders’ meeting held on October 28, 2004. The 2004 Plan provides for the granting of stock options,
equity-based stock appreciation rights (SARs) and restricted stock, as well as cash-based performance grants, to officers of the Company. The
2004 Plan expires on May 26, 2014. A maximum of 2,500,000 shares of the Company’s common stock are available for issuance pursuant to
grants and awards made under the 2004 Plan. Stock
90
Options Outstanding
Weighted Average
Shares
Exercise Price
Balance, June 30, 2002
6,141,307
$
15.85
Granted
398,000
27.54
Cancelled
(128,100
)
19.84
Exercised
(724,569
)
9.73
Balance, June 30, 2003
5,686,638
17.30
Granted
157,000
40.89
Cancelled
(111,276
)
24.49
Exercised
(1,135,939
)
15.28
Balance, June 30, 2004
4,596,423
18.32
Granted
125,500
35.49
Cancelled
(9,700
)
23.53
Exercised
(1,039,623
)
16.59
Balance, June 30, 2005
3,672,600
$
19.43
Options outstanding
Number
Weighted
average
Weighted
-
Options exercisable
Range of exercise prices
options
outstanding
as of 6/30/05
remaining
contractual
life (in years)
average
exercise
price
Number
exercisable
as of 6/30/05
Weighted
average
price
Under $16.01
1,290,426
5.20
$
15.08
595,531
$
15.00
$16.01
-
$20.00
1,434,117
4.58
16.82
1,393,067
16.74
$20.01
-
$25.00
239,807
4.50
20.93
218,507
20.64
$25.01
-
$35.00
470,250
7.44
28.79
193,529
28.74
$35.01-$42.79
238,000
9.40
38.94
22,500
42.79
Total
3,672,600
5.47
$
19.43
2,423,134
$
17.86