Travelers 2004 Annual Report Download - page 184
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THE ST. PAUL TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
13. INCENTIVE PLANS, Continued
Information with respect to stock option activity under the Company’s stock option plans for the years
ended December 31, 2004, 2003 and 2002 is as follows:
2004 2003 2002
Options
Weighted
Average
Exercise
Price Options
Weighted
Average
Exercise
Price Options
Weighted
Average
Exercise
Price
Outstanding, beginning of year ....... 30,422,539 $41.19 32,988,349 $40.68 — —
Granted:
Original:
Newly granted ................ 1,327,575 41.67 198,269 37.31 9,380,224 42.04
Converted (1) ................. 350,188 62.79 —— ——
Reload ........................ 553,583 39.21 477,121 36.48 114,675 31.77
Assumed/Replacement ............ 23,049,803 39.50 — — 24,657,910 39.89
Exercised ........................ (4,420,171) 28.53 (1,721,435) 23.42 (514,178) 19.70
Forfeited ......................... (3,439,258) 44.09 (1,519,765) 48.11 (650,282) 45.78
Outstanding, end of year ............ 47,844,259 $41.24 30,422,539 $41.19 32,988,349 $40.68
(1) Represents the conversion of the outstanding stock options to purchase CIRI stock into options to purchase
the Company’s common stock.
The following table summarizes the information about stock options outstanding under the Company’s stock
option plans at December 31, 2004:
Options outstanding Options exercisable
Range of
Exercise Prices
Number
Outstanding
Weighted
Average
Contractual
Life
Remaining
Weighted
Average
Exercise
Price
Number
Exercisable
Weighted
Average
Exercise
Price
Under $25.00 .............................. 1,577,568 1.8 years $19.70 1,577,568 $19.70
$25.00—$29.99 ............................ 5,715,276 3.6 years 27.04 5,699,526 27.03
$30.00—$34.99 ............................ 5,095,944 6.3 years 31.80 4,884,146 31.72
$35.00—$39.99 ............................ 4,629,502 5.2 years 36.79 4,066,127 36.62
$40.00—$44.99 ............................ 16,167,177 7.4 years 42.78 8,278,430 43.00
$45.00—$49.99 ............................ 8,337,550 5.9 years 48.17 7,607,276 48.06
$50.00—$54.99 ............................ 1,694,164 4.7 years 52.27 1,481,315 52.28
Over $54.99 ............................... 4,627,078 5.3 years 59.09 3,265,575 58.92
47,844,259 5.9 years $41.24 36,859,963 $40.16
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