Barnes and Noble 2004 Annual Report Download - page 42

Download and view the complete annual report

Please find page 42 of the 2004 Barnes and Noble annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 56

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56

The following table summarizes information as of January 29, 2005 concerning outstanding and exercisable options:
Options Outstanding Options Exercisable
Number Weighted-Average Weighted- Number Weighted-
Outstanding Remaining Average Exercisable Average
Range of Exercise Prices (000s) Contractual Life Exercise Price (000s) Exercise Price
$ 8.61 - $12.32 2,587 5.39 $ 11.21 1,556 $ 11.14
$13.18 - $17.13 5,439 6.39 $ 15.11 3,202 $ 15.52
$18.37 - $21.67 4,630 8.67 $ 21.19 2,822 $ 21.07
$22.47 - $25.63 1,204 6.17 $ 23.67 605 $ 24.26
$ 8.61 - $25.63 13,860 6.94 $ 17.16 8,185 $ 17.24
During fiscal 2004, the Company granted 50,000 restricted shares at a fair value of $30.80 per share on the date of
grant. The restricted shares vest over a four-year period in equal installments. Compensation expense is being recorded
as the restricted shares vest.
[NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS continued ]
40
2004 Annual ReportBarnes & Noble, Inc.
BNBN Stock Option Plans
Bn.com had one incentive plan (the 1999 Plan) under
which BNBN stock options were granted to key
officers, employees, consultants, advisors, and
managers of bn.com and its subsidiaries and affiliates.
The 1999 Plan was administered by the Compensation
Committee of bn.com’s Board of Directors. The 1999
Plan allowed bn.com to grant options to purchase
25,500,000 shares of bn.com’s Class A Common Stock.
Generally, options were granted at fair market value,
began vesting one year after grant in 25 percent
increments, were to expire 10 years from issuance and
were conditioned upon continual employment during
the vesting period.
Subsequent to the May 27, 2004 Merger, the holders of
bn.com’s outstanding common stock, other than that
owned by the Company and its subsidiaries, received
$3.05 in cash for each share that they owned and the
1999 Plan was terminated.
A summary of the status of bn.com’s BNBN
stock options as of bn.com’s fiscal year-ends is
presented below:
Shares Weighted-Average
(000s) Exercise Price
Balance, December 31, 2001
19,140 $3.44
Granted
3,638 1.19
Exercised
(15 ) 1.05
Forfeited
(4,591 ) 2.97
Balance, December 31, 2002
18,172 3.11
Granted
2,421 1.48
Exercised
(4,478 ) 1.29
Forfeited
(1,173 ) 4.46
Balance, December 31, 2003
14,942 3.29
Granted
44 2.93
Exercised
(8,495 ) 1.26
Forfeited
(6,491 ) 5.88
Balance, May 27, 2004
--