Food Lion 2012 Annual Report Download - page 142
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140 // DELHAIZE GROUP FINANCIAL STATEMENTS’12
The following table summarizes options and warrants outstanding as of December 31, 2012, and the related weighted average
remaining contractual life (years) and weighted average exercise price under the stock option plans for associates of U.S.
operating companies:
Range of Exercise Prices
Number
Outstanding
Weighted Average
Remaining Contractual Life
(in years)
Weighted Average
Exercise Price
(in $)
$28.91 - $46.40
856 245
6.40
39.33
$60.76 - $74.76
1 270 623
3.52
67.08
$78.33 - $96.30
1 395 008
4.89
89.64
$28.91 - $96.30
3 521 876
4.76
69.27
Options exercisable at the end of 2012 had a weighted average remaining contractual term of 3.60 years (2011: 4.40; 2010:
4.90).
The fair values of options granted were $5.89 (August 2012), $6.10 (May 2012), $12.61 and $13.03 per option for the years
2012, 2011 and 2010, respectively, and were estimated using the following weighted average assumptions:
August 2012
May 2012
2011
2010
Share price (in $)
39.62
38.86
78.42
78.33
Expected dividend yield (%)
3.6
3.5
2.9
2.5
Expected volatility (%)
27.1
27.9
26.0
25.2
Risk-free interest rate (%)
0.5
0.6
1.2
1.6
Expected term (years)
4.2
4.2
4.0
4.0
U.S. Operating Entities Restricted Stock Unit Awards Plan
Restricted stock unit awards follow a graded vesting plan over a five-year period, with a first 25% tranche of restricted stock units
to be transferred to associates starting at the end of the second year after the award has been granted. As the award vests, the
associate receives - at no cost for the associate - ADRs equal to the number of restricted stock units that have vested, free of
any restriction.
Restricted stock unit awards granted to associates of U.S. operating companies under the “Delhaize America 2012 Restricted
Stock Unit Plan” and the “Delhaize America 2002 Restricted Stock Unit Plan” (grants prior to 2012) were as follows:
Effective Date of Grants
Number of Shares
Underlying Award
Issued
Number of Shares
Underlying
Awards Outstanding at
December 31, 2012
Number of Beneficiaries
(at the moment of issuance)
August 2012
40 000
40 000
1
May 2012
126 123
116 671
253
June 2011
128 717
104 331
249
June 2010
123 917
69 351
243
June 2009
150 073
48 402
245
May 2008
466 503
79 978
3 421
Activity related to the restricted stock plans was as follows:
2012
Shares
Outstanding at beginning of year
520 584
Granted
166 123
Released from restriction
(210 611)
Forfeited/expired
(17 363)
Outstanding at end of year
458 733