WeightWatchers 2003 Annual Report Download - page 75

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
10. Stock Plans (Continued)
A summary of the Company’s stock option activity is as follows:
January 3, 2004 December 28, 2002 December 29, 2001
Weighted Weighted Weighted
Number of average Number of average Number of average
Shares exercise price Shares exercise price Shares exercise price
Options outstanding, Beginning of
year ....................... 4,896 $ 3.68 5,671 $ 2.35 5,301 $2.13
Granted .................... 543 $40.61 181 $37.37 731 $3.89
Exercised ................... (855) $ 2.29 (776) $ 2.18 (93) $2.13
Cancelled ................... (83) $14.63 (180) $ 2.28 (268) $2.13
Options outstanding, end of year . . . 4,501 $ 8.19 4,896 $ 3.68 5,671 $2.35
Options exercisable, end of year .... 2,971 $ 2.80 2,950 $ 2.26 2,479 $2.19
Options available for grant, end of
year ....................... 827 1,293 1,294
Weighted-average fair value of
options granted during the year . . . $16.01 $17.41 $1.89
The following table summarizes information about stock options outstanding at January 3, 2004 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 (Yrs.) Price Exercisable Price
$2.13–$2.34 ............. 3,276 6.1 $ 2.13 2,651 $ 2.13
$4.04 ................. 529 7.4 $4.04 279 $ 4.04
$35.87–$45.50 ........... 696 6.5 $39.87 41 $37.51
4,501 2,971
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. No options
have been granted under this Plan during the fiscal years ended January 3, 2004, December 28, 2002 or
December 29, 2001.
F-21