Dick's Sporting Goods 2005 Annual Report Download - page 57

Download and view the complete annual report

Please find page 57 of the 2005 Dick's Sporting Goods 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 66

  • 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

9. Stockholders’ Equity and Employee Stock Plans
Stock Option Plans – At January 28, 2006, the aggregate number of common shares reserved for grant under the Company’s
2002 Stock Option Plan (the “Plan”) is 19,866,000 shares. The stock option activity during the fiscal years ended is as follows:
Weighted Shares Weighted
Shares Average Subject to Average
Subject Exercise Price Exercisable Exercise Price
to Options Per Share Options Per Share
Outstanding, February 1, 2003 15,759,202 $ 3.46 8,909,490 $ 2.05
Granted 4,776,906 23.16 – –
Exercised (6,425,556) 2.10 – –
Cancelled (469,326) 3.70 – –
Outstanding, January 31, 2004 13,641,226 $ 10.99 4,607,322 $ 2.58
Granted 380,010 31.60 – –
Exercised (1,532,121) 3.24 – –
Cancelled (384,705) 15.25 – –
Outstanding, January 29, 2005 12,104,410 $ 12.47 4,242,361 $ 5.91
Granted 1,243,944 35.79 – –
Exercised (1,320,401) 5.65 – –
Cancelled (388,566) 25.58 – –
Outstanding, January 28, 2006 11,639,387 $ 15.32 3,871,740 $ 8.72
Stock options generally vest over four years in 25% increments from the date of grant and expire 10 years from the date of
grant. As of January 28, 2006, there were 9,606,303 shares of common stock available for issuance pursuant to future stock
option grants.
Additional information regarding options outstanding as of January 28, 2006, is as follows:
Options Outstanding Options Exercisable
Weighted
Average
Remaining Weighted Weighted
Contractual Average Average
Range of Exercise Prices Shares Life (Years) Exercise Price Shares Exercise Price
$1.08 – $2.17 2,068,498 4.17 $ 1.93 2,068,498 $ 1.93
$6.00 – $10.48 3,867,821 6.74 6.51 740,939 7.73
$15.29 – $22.87 2,501,255 7.71 21.69 468,219 18.36
$25.07 – $36.17 3,201,813 8.47 29.64 594,084 26.03
$1.08 – $36.17 11,639,387 6.97 $ 15.32 3,871,740 $ 8.72
Employee Stock Purchase Plan – The Company has an employee stock purchase plan, which provides that eligible employees
may purchase shares of the Company’s common stock. There are two offering periods in a fiscal year, one ending on June 30
and the other on December 31, or as otherwise determined by the Company’s compensation committee. The employee’s
purchase price is 85% of the lesser of the fair market value of the stock on the first business day or the last business day of
the semi-annual offering period. Employees may purchase shares having a fair market value of up to $25,000 for all purchases
ending within the same calendar year. No compensation expense is recorded in connection with the plan. The total number of
shares issuable under the plan is 2,310,000.
There were 125,989 and 137,240 shares issued under the plan during fiscal 2005 and 2004 and 940,877 shares available
for future issuance.
dick’s sporting goods, inc. 2005 annual report
55