Johnson and Johnson 2013 Annual Report Download - page 57

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A summary of option activity under the Plan as of December 29, 2013, December 30, 2012 and January 1, 2012, and
changes during the years ending on those dates is presented below:
(Shares in Thousands)
Outstanding
Shares
Weighted
Average
Exercise Price
Aggregate
Intrinsic
Value
(Dollars in
Millions)
Shares at January 2, 2011 193,690 $59.68 $648
Options granted 9,530 62.21
Options exercised (20,160) 56.65
Options canceled/forfeited (3,601) 62.38
Shares at January 1, 2012 179,459 60.10 1,004
Options granted 8,661 65.36
Options exercised (49,388) 56.73
Options canceled/forfeited (4,381) 62.97
Shares at December 30, 2012 134,351 61.58 1,061
Options granted 29,010 72.54
Options exercised (41,357) 59.99
Options canceled/forfeited (2,448) 65.89
Shares at December 29, 2013 119,556 $64.70 $3,306
The total intrinsic value of options exercised was $941 million, $547 million and $167 million in 2013, 2012 and 2011,
respectively.
The following table summarizes stock options outstanding and exercisable at December 29, 2013:
(Shares in Thousands) Outstanding Exercisable
Exercise Price Range Options
Average
Life(1)
Average
Exercise
Price Options
Average
Exercise
Price
$52.13-$53.93 4,175 0.1 $53.92 4,175 $53.92
$54.89-$58.33 11,539 5.1 $58.33 11,539 $58.33
$58.34-$62.20 30,119 4.1 $60.65 22,122 $60.10
$62.62-$65.62 29,818 5.3 $64.62 21,438 $64.42
$65.80-$72.54 43,905 6.1 $70.23 15,936 $66.19
119,556 5.1 $64.70 75,210 $62.01
(1) Average contractual life remaining in years.
Stock options exercisable at December 30, 2012 and January 1, 2012 were 104,860 at an average price of $61.15 and
an average life of 4.3 years and 138,126 at an average price of $59.94 and an average life of 4.2 years, respectively.
Restricted Share Units and Performance Share Units
The Company grants restricted share units which vest over service periods that range from 6 months to 3 years. The
Company also grants performance share units, which are paid in shares of Johnson & Johnson Common Stock after the
end of a three-year performance period. Whether any performance share units vest, and the amount that does vest, is tied
to the completion of service periods that range from 6 months to 3 years and the achievement, over a three-year period, of
three equally-weighted goals that directly align with or help drive long-term total shareholder return: sales, adjusted
operational earnings per share, and relative total shareholder return. The number of shares actually earned at the end of
the three-year period will vary, based only on actual performance, from 0% to 200% of the target number of performance
share units granted.
Johnson & Johnson 2013 Annual Report •47