Freddie Mac 2004 Annual Report Download - page 209
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Employee Plans. The accounting for stock options with dividend equivalent rights, restricted stock and RSUs
granted under the Directors' Plan is identical to that of the Employee Plans.
Table 11.2 provides a summary of activity related to stock options under the Employee Plans and the
Directors' Plan.
Table 11.2 Ì Employee Plans and Directors' Plan Stock Options Activity
Year Ended December 31,
2004 2003 2002
Stock Weighted Average Stock Weighted Average Stock Weighted Average
Options Exercise Price Options Exercise Price Options Exercise Price
Outstanding, beginning
of year ÏÏÏÏÏÏÏÏÏÏÏÏÏ 8,656,340 $46.89 9,231,105 $44.21 8,721,962 $37.56
Granted ÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,343,554 61.09 1,216,442 53.28 1,686,285 64.12
ExercisedÏÏÏÏÏÏÏÏÏÏÏÏÏ (1,861,617) 29.06 (1,052,156) 23.12 (997,127) 18.44
Forfeited or expired ÏÏÏÏ (510,336) 58.84 (739,051) 57.18 (180,015) 51.52
Outstanding, end of year 7,627,941 $52.94 8,656,340 $46.89 9,231,105 $44.21
Options exercisable at
year-endÏÏÏÏÏÏÏÏÏÏÏÏ 4,018,666 $47.46 4,755,640 $38.23 4,508,095 $29.60
Weighted-average fair
value of options
granted during year ÏÏ $ 25.04 $ 21.84 $ 28.13
Table 11.3 provides a summary of activity related to restricted stock and RSUs under the Employee Plans
and the Directors' Plan.
Table 11.3 Ì Employee Plans and Directors' Plan Restricted Stock and RSU Activity
Year Ended December 31,
2004 2003 2002
Restricted Restricted Restricted Restricted Restricted Restricted
Stock Stock Units Stock Stock Units Stock Stock Units
Outstanding,
beginning of yearÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 566,635 1,295,722 1,089,327 359,227 1,478,779 51,632
Granted(1) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Ì 698,587 Ì 1,146,164 Ì 325,902
Lapse of restrictions ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (240,514) (145,340) (381,103) (114,240) (383,199) (10,457)
Forfeited ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (161,340) (224,341) (141,589) (95,429) (6,253) (7,850)
Outstanding,
end of yearÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 164,781 1,624,628 566,635 1,295,722 1,089,327 359,227
Weighted-average fair value of awards
granted during year ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ 62.97 $ 55.01 $ 64.22
(1) RSUs granted under the Employee Plans were 673,720, 1,143,810 and 313,740 in 2004, 2003 and 2002, respectively. RSUs granted
under the Directors' Plan were 24,867, 2,354 and 12,162 in 2004, 2003 and 2002, respectively.
Freddie Mac
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