Alcoa 2009 Annual Report Download - page 130
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The activity for stock options is as follows (options in millions):
2009 2008 2007
Outstanding, beginning of year:
Number of options 46.2 52.3 80.0
Weighted average exercise price $35.61 $35.63 $33.97
Granted:
Number of options 27.1 2.9 6.1
Weighted average exercise price $ 8.34 $31.20 $41.14
Exercised:
Number of options - (6.0) (28.8)
Weighted average exercise price $ - $32.68 $31.88
Expired or forfeited:
Number of options (7.8) (3.0) (5.0)
Weighted average exercise price $34.60 $37.64 $37.19
Outstanding, end of year:
Number of options 65.5 46.2 52.3
Weighted average exercise price $24.44 $35.61 $35.63
Exercisable, end of year:
Number of options 37.7 42.3 44.9
Weighted average exercise price $35.51 $36.19 $35.16
The total intrinsic value of options exercised during 2008 and 2007 was $86 and $269, respectively.
The following tables summarize certain stock option information at December 31, 2009 (number of options and
intrinsic value in millions):
Options Fully Vested and/or Expected to Vest*
Range of
exercise price Number
Weighted
average
remaining
contractual
life
Weighted
average
exercise
price
Intrinsic
Value
$6.12 - $19.93 26.4 5.07 $ 8.35 $205
$19.94 - $27.71 2.9 2.96 22.59 -
$27.72 - $35.49 11.6 1.73 30.44 -
$35.50 - $48.10 24.6 0.80 39.13 -
Total 65.5 2.78 24.44 $205
* Expected forfeitures are immaterial to the Company and are not reflected in the table above.
Options Fully Vested and Exercisable
Range of
exercise price Number
Weighted
average
remaining
contractual
life
Weighted
average
exercise
price
Intrinsic
Value
$9.91 - $19.93 - 4.48 $11.82 $-
$19.94 - $27.71 2.9 2.96 22.59 -
$27.72 - $35.49 10.2 1.45 30.58 -
$35.50 - $48.10 24.6 0.80 39.13 -
Total 37.7 1.15 35.51 $-
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