Albertsons 2007 Annual Report Download - page 103

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SU
PERVAL
U
IN
C
. and
S
ubsidiaries
N
OTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
y
ears. Generall
y
, options vest over four
y
ears. The exercise provisions of future awards ma
y
chan
g
e as the Board
o
f Directors or the Compensation Committee may determine
.
I
n accordance with the Acquisition agreement, the Company assumed approximately 21 fully vested stock
o
pt
i
ons o
fh
o
ld
ers o
f
A
lb
ertsons stoc
k
opt
i
ons w
h
o
b
ecame emp
l
oyees o
f
t
h
e Company a
f
ter t
h
e Acqu
i
s
i
t
i
on. T
he
f
air value of the stock o
p
tions issued was determined in accordance with SFAS No. 123(R).
Prior to Februar
y
26, 2006, the Compan
y
applied APB Opinion No. 2
5
and related interpretations in accountin
g
f
or stock option and stock unit awards made under the 2002 Stock Plan and other plans. Stock options previously
g
rante
d
un
d
er t
h
ese p
l
ans
h
a
d
an exerc
i
se pr
i
ce equa
l
to not
l
ess t
h
an t
h
e
f
a
i
r mar
k
et va
l
ue o
f
t
h
e common stoc
k
o
n the date of the
g
rant, and accordin
g
l
y
, no compensation expense was reco
g
nized.
Options
g
ranted, exercised and outstandin
g
were as follows
:
S
hares
W
eighted Averag
e
E
xercise Price
Weighted Average
Remainin
g
C
ontractual Ter
m
Aggregate
I
ntrinsic
V
alu
e
(
In thousands
)(
In thousands
)
Outstanding, February 28, 2004 11,839
$
20.93 6.1
$
87,92
4
Granted 3,1
5
4 30.37
Exercised (3,550) 19.6
8
C
anceled and forfeited
(
139
)
25.55
Outstandin
g
, Februar
y
26, 2005 11,304 $23.87 6.2 $ 94,743
Grante
d
3
,
228 33.32
Exercised
(
2,377
)
21.1
5
C
anceled and forfeited (3
55
) 27.7
4
Outstanding, February 25, 2006 11,800
$
26.89 5.6
$
65,38
5
Granted 3,129 29.67
Assumed in Ac
q
uisition 21,349 33.13
Exercised
(
11,055
)
24.85
C
ance
l
e
d
an
df
or
f
e
i
te
d(
3,188
)
40.41
Outstanding, February 24, 2007 22,035
$
32.40 4.7
$
157,95
4
Vested and ex
p
ected to vest in future a
t
February 24, 2007 21,745
$
32.43 4.5
$
155,84
5
Exercisable at February 24, 2007 17,765
$
33.08 4.3
$
123,437
Th
ewe
i
g
h
te
d
average grant
d
ate
f
a
i
rva
l
ue o
f
stoc
k
opt
i
ons grante
d
to
h
o
ld
ers o
f
A
lb
ertsons stoc
k
opt
i
ons w
h
o
became emplo
y
ees of the Compan
y
after the Acquisition was $6.07 per share. The wei
g
hted avera
g
e
g
rant date
f
air value of all other stock options granted during the year ended February 24, 2007 was
$
6.96 per share. Th
e
weighted average grant date fair value of all stock options granted during the 52 weeks ended February 24,
2007, Februar
y
25, 2006 and Februar
y
26, 2005 was $6.18, $8.42 and $7.80 per share, respectivel
y
. The tota
l
intrinsic value of stock options exercised during the
5
2 weeks ended February 24, 2007, February 2
5
, 2006 and
F-
37