Big Lots 2011 Annual Report Download - page 174
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58
BIG LOTS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 7 — Share-Based Plans (Continued)
The following table summarizes information about our stock options outstanding and exercisable at
January 28, 2012:
Range of Prices Options Outstanding Options Exercisable
Greater
Than
Less
Than or
Equal to Options
Outstanding
Weighted-
Average
Remaining
Life
(Years)
Weighted-
Average
Exercise
Price Options
Exercisable
Weighted-
Average
Exercise
Price
$10.01 $20.00 1,071,948 3.4 $16.45 668,198 $15.83
20.01 30.00 991,850 2.8 24.95 784,349 25.92
30.01 40.00 837,125 5.2 35.76 211,625 35.82
$40.01 $50.00 775,500 6.1 41.20 2,500 41.14
3,676,423 4.2 $28.36 1,666,672 $23.16
A summary of the annual stock option activity for fiscal years 2009, 2010, and 2011 is as follows:
Number of
Options
Weighted
Average
Exercise
Price Per
Share
Weighted
Average
Remaining
Contractual
Term
(years)
Aggregate
Intrinsic
Value
(000’s)
Outstanding stock options at January 31, 2009 . . . . . . . . . 3,960,568 $19.42
Granted ........................................ 967,500 17.62
Exercised ....................................... (361,560) 13.64
Forfeited ....................................... (69,875) 21.80
Outstanding stock options at January 30, 2010 . . . . . . . . . 4,496,633 $19.46
Granted ........................................ 997,500 35.92
Exercised ....................................... (1,807,850) 17.98
Forfeited ....................................... (107,600) 26.10
Outstanding stock options at January 29, 2011 . . . . . . . . . 3,578,683 $24.59
Granted ........................................ 918,500 40.85
Exercised ....................................... (500,085) 20.81
Forfeited ....................................... (320,675) 33.84
Outstanding stock options at January 28, 2012 . . . . . . . . . 3,676,423 $28.36 4.2 $43,724
Vested or expected to vest at January 28, 2012 . . . . . . . . . 3,617,383 $28.39 4.2 $42,924
Exercisable at January 28, 2012 . . . . . . . . . . . . . . . . . . . . . 1,666,672 $23.16 3.1 $28,076
The number of stock options expected to vest was based on our annual forfeiture rate assumption.