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FOOT LOCKER, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
21. Share-Based Compensation − (continued)
The following table summarizes information about stock options outstanding and exercisable at January 31,
2015: 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 and contractual life)
$9.85 to $15.10 1,466 4.63 $12.39 1,466 $12.39
$18.80 to $24.76 1,453 5.03 $20.10 1,453 $20.10
$25.19 to $34.27 1,896 7.45 $32.70 828 $31.82
$34.42 to $56.35 754 9.15 $46.15 12 $40.51
5,569 6.31 $25.89 3,759 $19.74
Restricted Stock and Units
Restricted shares of the Company’s common stock and restricted stock units may be awarded to certain officers
and key employees of the Company. Awards made to executives outside of the United States and to
nonemployee directors are made in the form of restricted stock units. Each restricted stock unit represents the
right to receive one share of the Company’s common stock provided that the vesting conditions are satisfied.
In 2014, 2013, and 2012, there were 755,936, 1,027,542, and 1,254,876 restricted stock units outstanding,
respectively.
Generally, awards fully vest after the passage of time, typically three years. However, restricted stock unit grants
made in connection with the Company’s long-term incentive program vest after the attainment of certain
performance metrics and the passage of time. Restricted stock is considered outstanding at the time of grant
and the holders have voting rights. Dividends are paid to holders of restricted stock that vest with the passage
of time; for performance-based restricted stock, dividends will be accumulated and paid after the performance
criteria are met. No dividends are paid on restricted stock units.
Compensation expense is recognized using the fair market value at the date of grant and is amortized over the
vesting period, provided the recipient continues to be employed by the Company.
Restricted share and unit activity is summarized as follows:
2014 2013 2012
Number of
Shares
Wtg. Avg.
Grant Date
Fair Value
per share Number of
Shares
Wtg. Avg.
Grant Date
Fair Value
per share Number of
Shares
Wtg. Avg.
Grant Date
Fair Value
per share
(in thousands, except prices per share)
Nonvested at beginning of year 1,369 $27.20 1,564 $19.50 2,068 $14.52
Granted 360 $46.48 469 $35.03 278 $30.89
Vested (649) $20.84 (649) $14.50 (782) $10.37
Expired or cancelled (42) $24.69 (15) $18.30 — $ —
Nonvested at end of year 1,038 $37.96 1,369 $27.20 1,564 $19.50
Aggregate value (in millions) $39 $37 $30
Wtg. Avg. remaining contractual life
(in years) 1.12 0.89 0.84
69