Foot Locker 2008 Annual Report Download - page 79

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63
The weighted average grant-date fair value per share was $11.79, $22.95, and $24.08 for 2008, 2007, and 2006,
respectively. The total value of awards for which restrictions lapsed during the year-ended January 31, 2009, February
2, 2008, and February 3, 2007 was $2.7 million, $7.3 million and $6.7 million, respectively. As of January 31, 2009, there
was $6.5 million of total unrecognized compensation cost, related to nonvested restricted stock awards. The Company
recorded compensation expense related to restricted shares, net of forfeitures, of $5.0 million in 2008, $5.6 million in
2007 and $4.0 million in 2006.
26. Legal Proceedings
Legal proceedings pending against the Company or its consolidated subsidiaries consist of ordinary, routine
litigation, including administrative proceedings, incidental to the business of the Company, as well as litigation
incidental to the sale and disposition of businesses that have occurred in past years. These legal proceedings include
commercial, intellectual property, customer, and labor-and-employment-related claims. Certain of the Company’s
subsidiaries are defendants in a number of lawsuits filed in state and federal courts containing various class action
allegations under state wage and hour laws, including allegations concerning classification of employees as exempt or
nonexempt, unpaid overtime, meal and rest breaks, and uniforms. Management does not believe that the outcome of
such proceedings would have a material adverse effect on the Company’s consolidated financial position, liquidity, or
results of operations, taken as a whole.
27. Commitments
In connection with the sale of various businesses and assets, the Company may be obligated for certain
lease commitments transferred to third parties and pursuant to certain normal representations, warranties, or
indemnifications entered into with the purchasers of such businesses or assets. Although the maximum potential
amounts for such obligations cannot be readily determined, management believes that the resolution of such
contingencies will not have a material effect on the Company’s consolidated financial position, liquidity, or results
of operations. The Company is also operating certain stores and making rental payments for which lease agreements
are in the process of being negotiated with landlords. Although there is no contractual commitment to make these
payments, it is likely that a lease will be executed.
The Company does not have any off-balance sheet financing, other than operating leases entered into in the
normal course of business and disclosed above, or unconsolidated special purpose entities. The Company does not
participate in transactions that generate relationships with unconsolidated entities or financial partnerships,
including variable interest entities.
28. Shareholder Information and Market Prices (Unaudited)
Foot Locker, Inc. common stock is listed on The New York Stock Exchange as well as on the böerse-stuttgart stock
exchange in Germany and the Elektronische Börse Schweiz (EBS) stock exchange in Switzerland. In addition, the stock
is traded on the Cincinnati stock exchange.
As of January 31, 2009, the Company had 21,749 shareholders of record owning 154,917,700 common shares. During
2008 and 2007, the Company declared quarterly dividends of $0.15 and $0.125 per share during each of the quarters,
respectively.
The following table sets forth, for the period indicated, the intra-day high and low sales prices for the Company’s
common stock:
2008 2007
HighLowHighLow
Common Stock
Quarter
1stQ ..................................... $13.90 $10.39 $24.78 $21.28
2ndQ .................................... 15.43 11.40 24.15 17.00
3rdQ ..................................... 18.19 10.12 17.60 13.70
4thQ. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.79 3.65 15.14 9.05