Chili's 2001 Annual Report Download - page 54

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Transactions during fiscal 2001, 2000, and 1999 were as follows (in thousands, except option prices):
Number of Weighted Average Share
Company Options Exericise Price
2001 2000 1999 2001 2000 1999
Options outstanding at beginning of year ......... 11,997 13,342 14,664 $13.03 $11.58 $ 9.62
Granted ............................... 2,808 2,508 2,913 26.96 16.13 17.77
Exercised .............................. (3,373) (3,229) (3,003) 11.01 9.28 8.67
Forfeited .............................. (673) (624) (1,232) 19.18 13.79 10.69
Options outstanding at end of year ............. 10,759 11,997 13,342 $16.91 $13.03 $11.58
Options exercisable at end of year ............. 4,788 5,502 6,348 $11.64 $10.53 $10.65
Options Outstanding
Options Exercisable
Weighted
average Weighted Weighted
Number remaining average average
of contractual exercise Number of exercise
Range of exercise prices options life (years) price options price
$7.42-$11.25 ........................... 2,875 4.94 $ 8.99 2,823 $ 8.98
$11.58-$17.89 .......................... 5,240 6.82 16.21 1,958 15.46
$18.67-$26.96 .......................... 2,644 9.36 26.91 7 18.67
10,759 6.94 $16.91 4,788 $11.64
(b) 1991 and 1999 Non-Employee Stock Option Plans
In accordance with the Stock Option Plan for Non-Employee Directors and Consultants adopted in
May 1991, options to purchase 881,250 shares of Company common stock were authorized for grant. In
fiscal 2000, the 1991 Stock Option Plan for Non-Employee Directors and Consultants was replaced by the
1999 Stock Option and Incentive Plan for Non-Employee Directors and Consultants which authorized the
issuance of up to 450,000 shares of Company common stock. The authority to issue the remaining stock
options under the 1991 Stock Option Plan for Non-Employee Directors and Consultants has been
terminated. Options are granted at the market value of the underlying common stock on the date of grant,
vest one-third each year beginning two years from the date of grant, and expire 10 years from the date of
grant.
Transactions during fiscal 2001, 2000, and 1999 were as follows (in thousands, except option prices):
Number of Weighted Average Share
Company Options Exercise Price
2001 2000 1999 2001 2000 1999
Options outstanding at beginning of year ................ 468 521 346 $11.65 $11.42 $11.01
Granted ...................................... 38 9 274 23.96 15.67 11.31
Exercised ..................................... (155) (62) (69) 9.44 10.32 10.06
Forfeited ..................................... — — (30) — — 8.72
Options outstanding at end of year .................... 351 468 521 $13.96 $11.65 $11.42
Options exercisable at end of year .................... 208 278 287 $11.71 $10.23 $10.31
At June 27, 2001, the range of exercise prices for options outstanding was $8.33 to $23.96 with a
weighted average remaining contractual life of 6.27 years.
F-23