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Table of Contents


Year of Grant
Range of Exercise
Prices
Weighted
Average
Remaining
Contract Life
Options Outstanding
Options Exercisable
Min
Max
Options
Outstanding
WAEP
Aggregate
Intrinsic
Value
Options
Exercisable
WAEP
Aggregate
Intrinsic
Value
2005 - expire 2015
$ 8.84
$ 8.84
0.4 years
109
$ 8.84
$ 2,908
109
$ 8.84
$ 2,908
2006 - expire 2016
$ 12.93
$ 14.50
1.6 years
93
$ 12.99
2,110
93
$ 12.99
2,110
2007 - expire 2017
$ 10.42
$ 19.94
2.2 years
301
$ 19.83
4,735
301
$ 19.83
4,735
2008 - expire 2018
$ 6.01
$ 9.15
3.2 years
170
$ 6.19
5,006
170
$ 6.19
5,006
2009 - expire 2019
$ 4.65
$ 7.00
4.2 years
176
$ 4.76
5,415
176
$ 4.76
5,415
2010 - expire 2020
$ 12.34
$ 12.38
5.1 years
503
$ 12.37
11,659
352
$ 12.37
8,170
2011 - expire 2021
$ 17.43
$ 22.71
6.1 years
428
$ 17.49
7,737
221
$ 17.48
3,996
2012 - expire 2022
$ 26.66
$ 27.18
7.2 years
519
$ 26.67
4,611
194
$ 26.67
1,721
2013 - expire 2023
$ 31.68
$ 31.68
8.1 years
392
$ 31.68
1,520
66
$ 31.68
255
2014 - expire 2024
$ 25.24
$ 37.88
9.3 years
465
$ 34.40
539
0
$ —
—
Total
$ 4.65
$ 37.88
5.9 years
3,156
$ 20.91
$ 46,240
1,682
$ 15.16
$ 34,316
The aggregate intrinsic value is calculated as the amount by which the fair value of the underlying common shares exceeds the option exercise price. The
total intrinsic value of options exercised during fiscal 2014, 2013 and 2012 was $11.9 million, $20.9 million and $41.7 million, respectively. The total fair
value of options that vested during fiscal 2014, 2013 and 2012 was $2.5 million, $3.8 million and $4.8 million, respectively.
Restricted Stock Units ("RSU")- Beginning in fiscal 2013, RSUs granted generally cliff vest over three years, and prior to fiscal 2013, RSUs granted cliff vest
over four years. The aggregate intrinsic value is calculated as the amount by which the fair value of the underlying common shares exceeds the exercise price.
The total intrinsic value of RSUs that vested during fiscal 2014, 2013 and 2012 was $3.7 million, $4.0 million and $5.6 million, respectively. The total fair
value of RSUs that vested during fiscal 2014, 2013 and 2012 was $1.4 million, $0.7 million and $1.2 million, respectively. As of January 31, 2015, the total
compensation cost related to nonvested RSUs not yet recognized was approximately $5.0 million with a weighted average expense recognition period
remaining of 1.7 years. The weighted average exercise price for all RSUs is zero.
For the periods presented, the following tables summarize RSU activity, weighted average grant date fair value (“GDFV”) and aggregate intrinsic value (units
and intrinsic value in thousands):
Fiscal
2014
2013
2012
Units
GDFV
Units
GDFV
Units
GDFV
Outstanding beginning of year 377
$ 23.41
436
$ 15.39
546
$ 9.33
Granted 103
$ 34.53
92
$ 35.50
114
$ 27.48
Vested (114)
$ 14.11
(136)
$ 5.51
(208)
$ 5.86
Forfeited (46)
$ 29.55
(15)
$ 29.46
(16)
$ 16.82
Outstanding end of year 320
$ 29.21
377
$ 23.41
436
$ 15.39
Weighted Average
Aggregate
Remaining
Intrinsic
As of January 31, 2015:
Units
GDFV
Contract Life
Value
RSUs expected to vest
255
$ 29.40
1.3 years
$ 9,066
Performance-Based Restricted Stock Units ("PSU")- The Company granted PSUs beginning in fiscal 2013. These awards cliff vest at the end of a three-year
period based upon achievement of pre-established goals as of the end of the first year of the term.
F- 19
Source: DSW Inc., 10-K, March 26, 2015 Powered by Morningstar® Document Research℠
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