Famous Footwear 2004 Annual Report Download - page 71

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Table of Contents
Notes to Consolidated Financial Statements (continued)
BROWN SHOE COMPANY, INC. 2003 FORM 10-K
The following summary sets forth the Company’s stock option and stock appreciation rights activity for the three years ended January 31,
2004:
Weighted
Number of Average
Number of Appreciation Exercise
Option Shares Units Price
Outstanding February 3, 2001 2,186,425 217,033 $18
Granted 112,200 — 17
Exercised (160,321) (59,816) 14
Terminated (323,804) (6,556) 16
Outstanding February 2, 2002 1,814,500 150,661 16
Granted 454,750 — 18
Exercised (172,000) — 14
Terminated (215,500) (57,015) 16
Outstanding February 1, 2003 1,881,750 93,646 16
Granted 366,500 — 27
Exercised (326,557) — 15
Terminated (19,250) (13,963) 18
Outstanding January 31, 2004 1,902,443 79,683 $18
Following is a summary of stock options outstanding as of January 31, 2004, which have exercise prices ranging from $10 to $38:
Weighted Weighted
Average Average
Number of Exercise Remaining
Range of Exercise Prices Options Price Life (Years)
Options Outstanding
$10 — $15 455,368 $11 5
$15 — $18 413,900 17 5
$18 — $23 617,575 19 7
$23 — $38 415,600 27 8
1,902,443 $18 6
Options Exercisable
$10 — $15 375,420 $12 5
$15 — $18 364,400 17 4
$18 — $23 352,519 20 6
$23 — $38 52,100 28 1
1,144,439 $16 5
At February 1, 2003, 1,162,688 options with a weighted average exercise price of $17 were exercisable. At February 2, 2002, 1,133,644
options with a weighted average exercise price of $17 were exercisable.
Restricted Stock Plan
Under the Company’s restricted stock plan, common stock of the Company may be granted at no cost to certain officers and key employees.
Plan participants are entitled to cash dividends and voting rights for their respective shares. Restrictions limit the sale or transfer of these
shares during an eight-year period whereby the restrictions lapse on 50% of these shares after four years, 25% after six years and the
remaining 25% after eight years. Upon issuance of stock under the plan, unearned compensation equivalent to the market value at the date