WeightWatchers 2002 Annual Report Download - page 70

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
A summary of the Company’s stock option activity is as follows:
Eight Months Ended
December 28, 2002 December 29, 2001 December 30, 2000 April 29, 2000
Weighted Weighted Weighted Weighted
Number of average Number of average Number of average Number of average
Shares exercise price Shares exercise price shares exercise price shares exercise price
Options
outstanding,
Beginning of
year ....... 5,671 $ 2.35 5,301 $2.13 4,934 $2.13 ——
Granted ...... 181 $37.37 731 $3.89 494 $2.13 4,934 $2.13
Exercised ..... (776) $ 2.18 (93) $2.13 — $ ———
Cancelled ..... (180) $ 2.28 (268) $2.13 (127) $2.13 ——
Options
outstanding, end
of year ...... 4,896 $ 3.68 5,671 $2.35 5,301 $2.13 4,934 $2.13
Options
exercisable, end
of year ...... 2,950 $ 2.26 2,479 $2.19 1,325 $2.13 164 $2.13
Options available
for grant, end of
year ........ 2,162 1,387 346 713
Weighted average
fair value of
options granted
during the year . $17.41 $1.89 $0.98 $1.03
The following table summarizes information about stock options outstanding at December 28, 2002
by range of exercise price:
Options Outstanding Options Exercisable
Weighted
Average Weighted Weighted
Remaining Average Average
Range of Shares Contractual Exercise Shares Exercise
Exercise Prices Outstanding Life Price Exercisable Price
$ 2.13 — $2.34 4,084 7.1 $ 2.13 2,738 $2.13
$4.04 631 8.5 $ 4.04 212 $4.04
$ 36.00 — $43.70 181 9.4 $37.37 — $ —
4,896 2,950
WeightWatchers.com Stock Incentive Plan of Weight Watchers International, Inc. and Subsidiaries:
In April 2000, the board of directors adopted the WeightWatchers.com Stock Incentive Plan of
Weight Watchers International, Inc. and Subsidiaries, pursuant to which selected employees were
granted options to purchase shares of common stock of WeightWatchers.com, Inc. that are owned by
the Company. The number of shares available for grant under this plan is 400 shares of authorized
common stock of WeightWatchers.com, Inc. All options vest over a period of time, however, vesting of
certain options may be accelerated if the Company achieves specified performance levels.
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