Foot Locker 2009 Annual Report Download - page 78

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The information set forth in the following table covers options granted under the Company’s stock option
plans: 2009 2008 2007
Number
of
Shares
Weighted-
Average
Exercise
Price
Number
of
Shares
Weighted-
Average
Exercise
Price
Number
of
Shares
Weighted-
Average
Exercise
Price
(in thousands, except prices per share)
Options outstanding at
beginning of year ....... 6,080 $18.64 5,977 $19.57 6,048 $19.15
Granted ............... 1,521 $10.02 588 $11.73 778 $22.38
Exercised .............. (181) $ 8.76 (81) $ 9.76 (474) $15.29
Expired or cancelled ....... (418) $21.03 (404) $24.12 (375) $23.99
Options outstanding at end of
year................. 7,002 $16.88 6,080 $18.64 5,977 $19.57
Options exercisable at end of
year ................ 5,084 $18.85 4,812 $18.89 4,530 $18.27
Options available for future
grant at end of year ...... 2,214 4,890 5,804
The total intrinsic value of options exercised (the difference between the market price of the Company’s
common stock on the exercise date and the price paid by the optionee to exercise the option) for 2009, 2008 and
2007 was $0.4 million, $0.2 million and $2.7 million, respectively. The aggregate intrinsic value for stock options
outstanding and for stock options exercisable (the difference between the Company’s closing stock price on the
last trading day of the period and the exercise price of the options, multiplied by the number of in-the-money
stock options) as of January 30, 2010 was $2.4 million and $0.7 million, respectively. The Company received
$1.6 million in cash from option exercises for the year ended January 30, 2010. The tax benefit realized by the
Company on stock option exercises for the year ended January 30, 2010 was not significant. Compensation
expense related to the Company’s stock options and employee stock purchase plan was $3.8 million, $3.5 million
and $4.5 million for 2009, 2008, and 2007, respectively.
The following table summarizes information about stock options outstanding and exercisable at January 30,
2010: Options Outstanding Options Exercisable
Range of Exercise Prices Number
Outstanding
Weighted-
Average
Remaining
Contractual
Life
Weighted-
Average
Exercise
Price Number
Exercisable
Weighted-
Average
Exercise
Price
(in thousands, except prices per share)
$9.51 to $10.10 ................... 1,486 9.25 $10.00 145 $ 9.95
$10.22 to $11.91 .................. 1,682 4.08 $11.29 1,340 $11.25
$12.30 to $23.42 .................. 1,868 4.16 $18.09 1,634 $17.61
$23.59 to $27.01 .................. 1,483 5.02 $24.95 1,482 $24.95
$27.10 to $28.50 .................. 483 4.87 $28.08 483 $28.08
$9.51 to $28.50 ................... 7,002 5.45 $16.88 5,084 $18.85
Changes in the Company’s nonvested options at January 30, 2010 are summarized as follows:
Number of
Shares
Weighted-
Average Grant
Date Fair Value
per Share
(in thousands)
Nonvested at February 1, 2009 ............................ 1,268 $17.71
Granted ........................................... 1,521 10.02
Vested ........................................... (453) 14.36
Expired or Cancelled .................................. (418) 21.03
Nonvested at January 30, 2010 ........................... 1,918 11.67
60