Chili's 2002 Annual Report Download - page 55

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Transactions during fiscal 2002, 2001, and 2000 were as follows (in thousands, except option prices):
Number of Weighted Average Share
Company Options Exercise Price
2002 2001 2000 2002 2001 2000
Options outstanding at beginning of year ............. 10,759 11,997 13,342 $16.91 $13.03 $11.58
Granted.................................... 2,512 2,808 2,508 27.90 26.96 16.13
Exercised ................................... (2,892) (3,373) (3,229) 13.09 11.01 9.28
Forfeited ................................... (435) (673) (624) 23.38 19.18 13.79
Options outstanding at end of year ................. 9,944 10,759 11,997 $20.50 $16.91 $13.03
Options exercisable at end of year .................. 4,091 4,788 5,502 $13.38 $11.64 $10.53
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-$11.58 ............................... 1,733 4.09 $ 8.71 1,719 $ 8.69
$12.89-$18.67 ............................... 3,363 6.41 16.59 2,372 16.78
$25.50-$33.02 ............................... 4,848 8.88 27.43 — —
9,944 7.21 $20.50 4,091 $13.38
(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 2002, 2001, and 2000 were as follows (in thousands, except option prices):
Number of Weighted Average Share
Company Options Exercise Price
2002 2001 2000 2002 2001 2000
Options outstanding at beginning of year .................... 351 468 521 $13.96 $11.65 $11.42
Granted........................................... 82 38 9 30.06 23.96 15.67
Exercised .......................................... (70) (155) (62) 11.24 9.44 10.32
Forfeited .......................................... (10) — — 30.06 — —
Options outstanding at end of year ........................ 353 351 468 $17.79 $13.96 $11.65
Options exercisable at end of year ......................... 199 208 278 $12.61 $11.71 $10.23
At June 26, 2002, the range of exercise prices for options outstanding was $8.33 to $30.06 with a weighted
average remaining contractual life of 6.63 years.
(c) On The Border 1989 Stock Option Plan
In accordance with the Stock Option Plan for On The Border employees, options to purchase 550,000 shares
of On The Border’s preacquisition common stock were authorized for grant. Effective May 18, 1994, the 376,000
unexercised On The Border stock options became exercisable immediately in accordance with the provisions of
the Stock Option Plan, and were converted to approximately 186,000 Company stock options and expire 10 years
from the date of original grant. At June 26, 2002, there were approximately 37,000 options exercisable and
outstanding at an exercise price of $13.18 with a weighted average remaining contractual life of 1.21 years.
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