DSW 2015 Annual Report Download - page 59

Download and view the complete annual report

Please find page 59 of the 2015 DSW annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 101

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101

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 (1)
Options
Exercisable
WAEP
Aggregate
Intrinsic
Value (1)
2006 - expire 2016
$ 12.93
$ 14.50
0.6 years
92
$ 12.98
$ 1,019
93
$ 12.98
$ 1,020
2007 - expire 2017
$ 18.57
$ 19.94
1.2 years
297
$ 19.84
1,241
297
$ 19.84
1,241
2008 - expire 2018
$ 6.01
$ 9.15
2.2 years
165
$ 6.20
2,941
165
$ 6.20
2,941
2009 - expire 2019
$ 4.65
$ 7.00
3.2 years
136
$ 4.79
2,607
136
$ 4.79
2,607
2010 - expire 2020
$ 12.34
$ 12.38
4.2 years
330
$ 12.37
3,843
330
$ 12.37
3,843
2011 - expire 2021
$ 17.43
$ 22.71
5.1 years
253
$ 17.44
1,662
191
$ 17.44
1,253
2012 - expire 2022
$ 26.66
$ 27.18
4.7 years
466
$ 26.67
—
331
$ 26.66
—
2013 - expire 2023
$ 31.68
$ 31.68
5.1 years
361
$ 31.68
—
219
$ 31.68
—
2014 - expire 2024
$ 29.74
$ 37.88
6.9 years
433
$ 34.53
—
151
$ 35.41
—
2015 - expire 2025
$ 23.21
$ 37.50
8.9 years
1,316
$ 32.17
298
94
$ 37.50
—
Total
$ 4.65
$ 37.88
5.9 years
3,849
$ 25.56
$ 13,611
2,007
$ 20.35
$ 12,905
(1) The aggregate intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option at
year end. A zero value reflects an exercise price above the closing market price of DSW Class A Common Shares for fiscal 2015.
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 2015, 2014 and 2013 was $8.9 million, $11.9 million and $20.9 million, respectively. The total fair
value of options that vested during fiscal 2015, 2014 and 2013 was $3.7 million, $2.5 million and $3.8 million, respectively.
Restricted Stock Units ("RSUs")- Beginning in fiscal 2013, RSUs granted generally cliff vest over three years, and prior to fiscal 2013, RSUs granted cliff vest
over four years. RSUs receive dividend equivalents in the form of additional RSUs, which are subject to the same restrictions and forfeiture provisions as the
original award. The grant date fair value of RSUs is based on the closing market price of DSW Class A Common Shares on the date of the grant. 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 2015, 2014 and 2013 was $3.5 million, $3.7 million and $4.0 million, respectively. The total fair value of RSUs that vested
during fiscal 2015, 2014 and 2013 was $2.0 million, $1.4 million and $0.7 million, respectively. As of January 30, 2016, the total compensation cost related
to nonvested RSUs not yet recognized was approximately $7.0 million with a weighted average expense recognition period remaining of 1.7 years. The
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
2015
2014
2013
Units
GDFV
Units
GDFV
Units
GDFV
Outstanding at beginning of year 320
$ 29.21
377
$ 23.41
436
$ 15.39
Granted 199
$ 30.54
103
$ 34.53
92
$ 35.50
Vested (115)
$ 21.32
(114)
$ 14.11
(136)
$ 5.51
Forfeited (32)
$ 32.99
(46)
$ 29.55
(15)
$ 29.46
Outstanding at end of year 372
$ 31.83
320
$ 29.21
377
$ 23.41
F- 20
Source: DSW Inc., 10-K, March 24, 2016 Powered by Morningstar® Document Research℠
The information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. The user assumes all risks for any damages or losses arising from any use of this information,
except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.