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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, May 1,
2010 5,498 $ 20.19 3.49 years $13,782
Exercised (1,024) 16.83
Forfeited (598) 20.57
Balance,
April 30, 2011 3,876 21.02 3.40 years —
Granted 1,563 15.70
Exercised (92) 11.89
Forfeited (1,487) 21.86
Balance,
April 28, 2012 3,860 18.76 5.70 years $ 574
Granted 515 11.64
Exercised (279) 12.20
Forfeited (720) 20.19
Balance,
April 27, 2013 3,376 $ 17.91 6.24 years $ 7,331
Vested and
expected to vest
in the future at
April 27, 2013 3,295 $ 17.96 6.19 years $ 7,139
Exercisable at
April 27, 2013 1,304 $ 22.19 2.42 years $ 580
Available for
grant at
April 27, 2013 2,568
The aggregate intrinsic value in the table above represents
the total pre-tax intrinsic value (the difference between
the Company’s closing stock price on the last trading day of
the related fiscal 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 fiscal year. This amount changes
based on the market value of the Company’s common
stock. Total intrinsic value of options exercised for fiscal
2013, fiscal 2012 and fiscal 2011 (based on the difference
between the Company’s stock price on the exercise date and
the respective exercise price, multiplied by the number of
options exercised) was $1,206, $521 and $124, respectively.
As of April 27, 2013, there was $14,738 of total unrecog-
nized compensation expense related to unvested stock
options granted under the Company’s share-based com-
pensation plans. That expense is expected to be recognized
over a weighted average period of 2.6 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, 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
Granted 83 13.23
Vested (1,073) 22.78
Forfeited (51) 21.52
Balance, April 28, 2012 1,384 19.68
Granted 60 11.52
Vested (866) 20.49
Forfeited (293) 19.24
Balance, April 27, 2013 285 $ 15.91
Total fair value of shares of restricted stock that vested
during fiscal 2013, fiscal 2012 and fiscal 2011 was $13,447,
$14,067 and $6,163, respectively. As of April 27, 2013, there
was $2,359 of unrecognized stock-based compensation
expense related to nonvested restricted stock awards. That
cost is expected to be recognized over a weighted average
period of 1.1 years.
The following table presents a summary of the Company’s
restricted stock unit activity:
NUMBER OF SHARES
(in thousands)
WEIGHTED AVERAGE
GRANT DATE
FAIR VALUE
Balance, April 30, 2011 — $ —
Granted 969 16.64
Forfeited (5) 18.59
Balance, April 28, 2012 964 16.63
Granted 1,029 16.29
Vested (13) 15.31
Forfeited (102) 18.01
Balance, April 27, 2013 1,878 $ 16.38
Total fair value of shares of restricted stock units that vested
during fiscal 2013 was $205. No restricted stock units were
granted prior to fiscal 2012 and there were no vestings dur-
ing fiscal 2012. As of April 27, 2013, there was $26,236 of
unrecognized stock-based compensation expense related
46 Barnes & Noble, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued