Whole Foods 2011 Annual Report Download - page 56

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50
Stock Options
At September 25, 2011, September 26, 2010 and September 27, 2009, approximately 11.7 million shares, 12.7 million shares
and 15.4 million shares of our common stock, respectively, were available for future stock incentive grants. The following
table summarizes option activity (in thousands, except per share amounts and contractual lives in years):
Weighted
Number Weighted average Aggregate
of options average remaining intrinsic
outstanding exercise price contractual life value
Outstanding options at September 28, 2008 17,430 $ 48.64
Options granted 2,714 18.73
Options exercised (62) 25.38
Options expired (1,506) 39.46
Options forfeited (259) 34.05
Outstanding options at September 27, 2009 18,317 $ 45.24
Options granted 3,136 40.78
Options exercised (1,624) 27.30
Options expired (553) 56.23
Options forfeited (330) 29.15
Outstanding options at September 26, 2010 18,946 $ 46.00
Options granted 3,219 62.49
Options exercised (6,797) 43.93
Options expired (1,394) 66.61
Options forfeited (334) 37.94
Outstanding options at September 25, 2011 13,640 $ 48.99 3.77 $ 262,015
Vested/expected to vest at September 25, 2011 13,077 $ 48.79 3.66 $ 192,092
Exercisable options at September 25, 2011 6,585 $ 52.30 1.59 $ 104,683
The weighted average fair values of options granted during fiscal years 2011, 2010 and 2009 were $21.84, $16.59 and $7.75,
respectively. The aggregate intrinsic values of stock options at exercise, represented in the table above, was approximately
$106.3 million, $13.8 million, and $0.2 million during fiscal years 2011, 2010, and 2009, respectively. The total fair value of
shares vested during fiscal years 2011, 2010, and 2009 was approximately $128.7 million, $69.3 million and $24.7 million,
respectively, including the value of vested options exercised during those same periods. As of the end of fiscal years 2011
and 2010, there was approximately $97.4 million and $62.2 million of unrecognized share-based payment expense,
respectively, related to nonvested stock options, net of estimated forfeitures, related to approximately 6.5 million shares and
5.8 million shares, respectively. We anticipate this expense to be recognized over a weighted average period of
approximately three years.
A summary of options outstanding and exercisable at September 25, 2011 follows (share amounts in thousands):
Range of Exercise Prices Options Outstanding Options Exercisable
Weighted Weighted average Weighted
Number average remaining Number average
From To outstanding exercise price life (in years) exercisable exercise price
$ 11.12 $ 27.62 2,847 $ 21.91 3.49 1,204 $ 22.98
28.03 40.83 3,235 40.57 5.19 978 40.16
44.99 60.43 1,338 54.31 0.62 1,335 54.30
62.49 62.49 3,152 62.49 6.63 - -
66.81 66.81 3,068 66.81 0.96 3,068 66.81
Total 13,640 $ 48.99 3.77 6,585 $ 52.30
Share-based payment expense related to vesting stock options recognized during fiscal years 2011, 2010 and 2009 totaled
approximately $27.0 million, $18.7 million and $13.3 million, respectively.