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Stock-Based Compensation Activity
The following table presents a summary of the Company’s
stock option activity:
NUMBER OF
SHARES
(in thousands)
WEIGHTED
AVERAGE
EXERCISE
PRICE
WEIGHTED
AVERAGE
REMAINING
CONTRACTUAL
TERM
AGGREGATE
INTRINSIC
VALUE
(in thousands)
Balance,
February 2, 2008 6,582 $ 20.19 4.98 years $ 91,597
Granted 289 23.19
Exercised (488) 19.79
Forfeited (416) 23.88
Balance,
January 31, 2009 5,967 20.11 4.03 years $ 3,557
Granted — —
Exercised (280) 19.73
Forfeited (126) 19.27
Balance,
May 2, 2009 5,561 20.14 3.83 years $ 33,633
Granted 500 22.07
Exercised (313) 13.96
Forfeited (250) 30.69
Balance,
May 1, 2010 5,498 20.19 3.49 years $ 13,782
Granted — —
Exercised (1,024) 16.83
Forfeited (598) 20.57
Balance,
April 30, 2011 3,876 $ 21.02 3.40 years —
Vested and expected
to vest in the future
at April 30, 2011 3,876 $ 21.02 3.40 years —
Exercisable at
April 30, 2011 3,542 $ 20.92 2.88 years —
Available for grant at
April 30, 2011 1,760
The aggregate intrinsic value in the table above represents
the total pre-tax intrinsic value (the diff erence between
the Company’s closing stock price on the last trading day of
the related fi scal year and the exercise price, multiplied by
the related in-the-money options) that would have been
received by the option holders had they exercised their
options at the end of the fi scal year. This amount changes
based on the market value of the Company’s common stock.
Total intrinsic value of options exercised for fi scal 2011,
fi scal 2010, the transition period and fi scal 2008 (based on
the diff erence between the Company’s stock price on the
exercise date and the respective exercise price, multiplied
by the number of options exercised) was $124, $2,321,
$1,094 and $3,997, respectively.
As of April 30, 2011, there was $1,827 of total unrecognized
compensation expense related to unvested stock options
granted under the Company’s share-based compensation
plans. That expense is expected to be recognized over a
weighted average period of 1.9 years.
The following table presents a summary of the Company’s
restricted stock activity:
NUMBER OF SHARES
(in thousands)
WEIGHTED AVERAGE
GRANT DATE FAIR
VALUE
Balance, February 2, 2008 1,026 $ 40.74
Granted 991 28.27
Vested (431) 39.27
Forfeited (135) 31.13
Balance, January 31, 2009 1,451 33.55
Granted 133 17.56
Vested (299) 37.21
Forfeited (50) 35.28
Balance, May 2, 2009 1,235 30.86
Granted 1,647 21.93
Vested (429) 33.18
Forfeited (123) 30.41
Balance, May 1, 2010 2,330 24.15
Granted 684 16.65
Vested (435) 27.99
Forfeited (154) 24.76
Balance, April 30, 2011 2,425 21.31
Total fair value of shares of restricted stock that vested dur-
ing fi scal 2011, fi scal 2010, the transition period and fi scal
2008 was $6,163, $9,408, $6,435 and $12,108, respectively.
As of April 30, 2011, there was $37,889 of unrecognized
stock-based compensation expense related to nonvested
restricted stock awards. That cost is expected to be recog-
nized over a weighted average period of 2.3 years.
2011 Annual Report 41