Henry Schein 2003 Annual Report Download - page 57

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HENRY SCHEIN, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
(In thousands, except share and per share data)
Note 12–Stockholders’ Equity (Continued)
A summary of the status of our stock option plans, including the Assumed Plans, is presented below:
Years ended
December 27, 2003 December 28, 2002 December 29, 2001
Weighted Weighted Weighted
Average Average Average
Exercise Exercise Exercise
Shares Price Shares Price Shares Price
Outstanding at beginning
of year 4,281,425 $29.20 4,646,271 $26.04 4,650,722 $24.59
Granted 1,096,050 40.30 1,017,850 41.37 883,600 28.73
Exercised (1,078,075) 20.73 (1,271,528) 26.69 (736,923) 19.21
Forfeited (65,694) 33.48 (111,168) 37.56 (151,128) 30.26
Outstanding at end
of year 4,233,706 $34.16 4,281,425 $29.20 4,646,271 $26.04
Options exercisable at
end of year 2,995,383 $31.55 3,183,593 $26.44 3,722,164 $26.53
The following table summarizes information about stock options outstanding at December 27, 2003:
Options Outstanding Options Exercisable
Weighted Average
Remaining Weighted Weighted
Number Contractual Life Average Exercise Number Average Exercise
Outstanding in Years Price Exercisable Price
Range of Exercise Prices
$4.21 to $19.76 429,940 4.7 $13.80 429,940 $13.80
20.16 to 30.06 1,068,491 6.5 27.30 1,020,961 27.24
31.13 to 45.59 2,610,075 7.6 39.32 1,507,526 39.10
45.96 to 68.83 125,200 9.1 55.11 36,956 49.57
4,233,706 7.1 34.16 2,995,383 31.55
(c) Employee Benefit Plans
401(k) Plan
We offer qualified, fully-funded 401(k) plans to substantially all our domestic full-time employees. As determined by our Board of Directors,
matching contributions to these plans are equal to 100% of the participants’ contributions up to 7% of their base compensation. Matching
contributions include both cash and our common stock. Forfeitures attributable to participants whose employment terminates prior to
becoming fully vested are used to reduce our matching contributions.
Assets of the 401(k) plans are held in self-directed accounts enabling participants to choose from various investment fund options.
Matching contributions to these plans charged to operations during 2003, 2002 and 2001 amounted to $7.6 million, $5.3 million and $4.1
million.
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