WeightWatchers 2004 Annual Report Download - page 84

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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 WWI’s stock option activity is as follows:
January 1, 2005 January 3, 2004 December 28, 2002
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 ........... 4,501 $ 8.19 4,896 $ 3.68 5,671 $ 2.35
Granted .................. 855 $38.41 543 $40.61 181 $37.37
Exercised ................. (732) $ 2.51 (855) $ 2.29 (776) $ 2.18
Cancelled ................. (294) $12.83 (83) $14.63 (180) $ 2.28
Options outstanding, end of year . . 4,330 $14.80 4,501 $ 8.19 4,896 $ 3.68
Options exercisable, end of year . . 2,872 $ 3.56 2,971 $ 2.80 2,950 $ 2.26
Options available for grant, end of
year ..................... 263 827 1,293
Weighted-average fair value of
options granted during the year . $14.40 $16.01 $17.41
The following table summarizes information about WWI stock options outstanding at January 1,
2005 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 2,608 5.1 $ 2.13 2,598 $ 2.13
$4.04 246 6.5 $ 4.04 167 $ 4.04
$35.87-$45.50 1,476 6.0 $38.97 107 $37.58
4,330 2,872
WeightWatchers.com Stock Incentive Plan of Weight Watchers International, Inc. and Subsidiaries:
In April 2000, the Board of Directors of WWI 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 that are owned by
WWI. The number of shares available for grant under this plan is 400 shares of authorized common
stock of WeightWatchers.com. All options vest over a period of time, however, vesting of certain
options may be accelerated if WWI achieves specified performance levels. During the year ended
January 1, 2005, 23 options have been granted under this plan. No options have been granted under
this plan during the fiscal years ended January 3, 2004 or December 28, 2002.
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