Callaway 1998 Annual Report Download - page 31

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CALLAWAY GOLF COMPANY
29
(in thousands)
Plan Authorized Available Outstanding
1990 Plan 4,920 130
1991 Plan 10,000 38 3,447
Promotion Plan 3,560 738 1,211
1995 Plan 4,600 739 3,768
1996 Plan 6,000 2,195 3,805
1998 Plan 500 500
Key Officer Plans 1,100 820
Director Plan 840 92 456
Total 31,520 4,302 13,637
The following tables summarize additional information about outstanding stock options at December 31, 1998 and
options and other stock awards granted during 1998:
OPTIONS OUTSTANDING AND EXERCISABLE BY PRICE RANGE AS OF DECEMBER 31, 1998
Weighted-
Average
Number Remaining Weighted- Number Weighted-
Range of Outstanding Contractual Average Exercisable Average
Exercise Prices (in thousands) Life-Years Exercise Price (in thousands) Exercise Price
$0 - $10 1,327 3.4 $ 3.21 1,249 $ 2.83
$10 - $25 4,602 4.5 $16.37 2,841 $14.82
$25 - $40 7,708 6.9 $29.68 1,949 $31.63
$0 - $40 13,637 5.8 $22.62 6,039 $17.78
OPTIONS AND OTHER STOCK AWARDS GRANTED DURING 1998
Number Weighted-Average
(in thousands) Exercise Price
Exercise price = market value 3,878 $25.88
Exercise price > market value 5 $28.56
Exercise price < market value 137 $ 1.28
4,020 $25.04
The following table presents shares authorized, available for future grant and outstanding under each of the Company’s
plans as of December 31, 1998:
Under the Company’s stock option plans, outstanding options vest over periods ranging from zero to five years from
the grant date and expire up to ten years after the grant date.
The following summarizes stock option transactions for the years ended December 31, 1998, 1997 and 1996:
(in thousands, except per share data) Year ended December 31,
1998 1997 1996
Weighted- Weighted- Weighted-
Average Average Average
Exercise Exercise Exercise
Shares Price Shares Price Shares Price
Outstanding at beginning of year 11,257 $22.41 10,800 $15.03 9,842 $9.87
Granted 4,020 25.04 3,406 33.79 2,760 28.47
Exercised (441) 10.16 (2,877) 7.81 (1,775) 7.07
Canceled (1,199) 34.86 (72) 28.81 (27) 16.98
Outstanding at end of year 13,637 $22.62 11,257 $22.41 10,800 $15.03
Options exercisable at end of year 6,039 $17.78 3,453 $12.17 3,939 $8.83
Price range of outstanding options $0.44 - $40.00 $0.44 - $40.00 $0.44 - $34.38