Barnes and Noble 2003 Annual Report Download - page 46

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[NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS continued ]
45
2003 Annual Report Barnes & Noble, Inc.
The following table summarizes information as of January 31, 2004 concerning outstanding and exercisable options:
Options Outstanding Options Exercisable
Weighted- Weighted- Weighted-
Number Average Average Number Average
Outstanding Remaining Exercise Exercisable Exercise
Range of Exercise Prices (000s) Contractual Life Price (000s) Price
$3.53 - $4.51 6,436 (1) 7.21 $ 4.21 6,436 $ 4.21
$11.80 - $12.71 925 9.17 $ 11.90 -- $ 11.90
$15.25 - $16.48 115 9.60 $ 15.41 5 $ 15.41
$18.00 - $21.25 3,831 8.31 $ 18.03 1,355 $ 18.03
$3.53 - $21.25 11,307 7.68 $ 9.63 7,796 $ 6.62
(1) 4,500 of these options, at a $4.51 exercise price, are held by Leonard Riggio, the Company’s Chairman of the Board and
principal stockholder.
GME Stock Option Plans
In August 2001, the Company approved the 2001
Incentive Plan of GameStop (the 2001 Plan). The 2001
Plan assumed (by the issuance of replacement options)
all stock options outstanding as of the effective date
under the 2000 Incentive Plan of GameStop, Inc. (the
2000 Plan) under the same terms.
Effective September 13, 2000, the Company approved
the 2000 Plan. The 2000 and 2001 Plans, as amended,
provide a maximum aggregate amount of 20,000,000
shares of common stock with respect to which options
may be granted and provide for the granting of
incentive stock options, non-qualified stock options,
and restricted stock, which may include, without
limitation, restrictions on the right to vote such shares
and restrictions on the right to receive dividends on
such shares. The options to purchase common shares
generally are issued at fair market value on the date of
grant. Generally, the options vest and become exercisable
ratably over a three-year period, commencing one year
after the grant date, and expire ten years from issuance.
A summary of the status of the Company’s GME stock
options is presented below:
Weighted-Average
(Thousands of shares) Shares Exercise Price
Balance, February 3, 2001 4,470 $ 3.53
Granted 4,500 4.51
Exercised -- --
Forfeited ( 159 ) 3.53
Balance, February 2, 2002 8,811 4.03
Granted 4,545 18.02
Exercised ( 287 ) 3.53
Forfeited ( 309 ) 12.10
Balance, February 1, 2003 12,760 8.83
Granted 1,119 12.19
Exercised ( 1,943 ) 3.55
Forfeited ( 629 ) 16.55
Balance, January 31, 2004 11,307 $ 9.63