Einstein Bros 2009 Annual Report Download - page 50

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Form 10-K
http://www.sec.gov/Archives/edgar/data/949373/000119312510040721/d10k.htm[9/11/2014 10:09:50 AM]
method over the requisite service period. Included in our total stock-based compensation expense for fiscal year ended 2009 was $0.2 million
related to this agreement.
Stock Option Activity
Transactions for the 1995 Directors’ Stock Option Plan, the 2003 Plan, the 2004 Directors’ Plan and the Stock Award Plan during fiscal years
ended 2007, 2008 and 2009 were as follows:
Number of Options Weighted -Average Exercise Price
2007 2008 2009 2007 2008 2009
Outstanding, beginning of year 993,707 1,108,361 1,201,442 $ 3.79 $ 8.06 $ 8.04
Granted 554,314 391,738 287,000 13.24 10.55 5.27
Exercised (260,392) (97,526) (427,777) 3.91 4.14 4.23
Forfeited (179,268) (201,131) (130,288) 6.48 14.92 10.98
Cancelled — — (20,000) — — 3.40
Outstanding, ending of year 1,108,361 1,201,442 910,377 $ 8.06 $ 8.04 $ 8.63
Exercisable and vested, end of year 637,993 730,033 447,017 $ 4.57 $ 6.37 $ 9.35
The aggregate intrinsic value of options exercised during 2007, 2008 and 2009 was $3.4 million, $0.8 million and $3.0 million, respectively.
Number
of Options
Weighted-
Average
Grant Date
Fair Value
Non-vested shares, December 30, 2008 471,409 $ 4.06
Granted 287,000 2.11
Vested (165,480) 3.31
Forfeited (129,569) 3.16
Non-vested shares, December 29, 2009 463,360 $ 2.83
63
Table of Contents
EINSTEIN NOAH RESTAURANT GROUP, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
The weighted-average fair value of options granted during the years ended January 1, 2008 and December 30, 2008 was $5.39 and $3.86,
respectively.
As of December 30, 2008, the weighted-average remaining life of total outstanding options, and exercisable and vested options was 5.84
years and 3.67 years, respectively, and the aggregate intrinsic value of outstanding options, and exercisable and vested options was $0.9 million
and $0.8 million, respectively.
As of December 29, 2009, the weighted-average remaining life of total outstanding options, and exercisable and vested options was 7.1 years
and 5.3 years, respectively, and the aggregate intrinsic value of outstanding options, and exercisable and vested options was $2.6 million and $1.2
million, respectively.
The following table summarizes information about stock options outstanding at December 29, 2009:
Options Outstanding Options Exercisable
Range of Exercise Prices
Number of
Options
Wt.Avg.
Exercise
Price
Wt.Avg.
Remaining
Life (Years)
Number
of Options
Wt.Avg.
Exercise
Price
$0.00 - $4.00 85,271 $ 3.68 4.18 85,271 $ 3.68
$4.01 - $8.00 510,496 5.60 7.60 206,078 6.30
$8.01 - $15.00 115,572 10.88 8.61 24,086 10.96
$15.01 - $20.00 199,038 17.22 6.07 131,582 17.50
910,377 $ 8.63 7.07 447,017 $ 9.35
Stock Appreciation Rights Plan Activity
Transactions for fiscal years ended 2007, 2008 and 2009 were as follows: