Kroger 2014 Annual Report Download - page 123

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A-58
NO T E S T O C O N S O L I D A T E D F I N A N C I A L S T A T E M E N T S , CO N T I N U E D
the 2005, 2008, 2011 and 2014 Long-Term Incentive Plans (the “Plans”) for future restricted stock awards or
shares issued to the extent performance criteria are achieved. The Company has the ability to convert shares
available for stock options under the Plans to shares available for restricted stock awards. Under the Plans,
four shares available for option awards can be converted into one share available for restricted stock awards.
All awards become immediately exercisable upon certain changes of control of the Company.
Stock Options
Changes in options outstanding under the stock option plans are summarized below:
Shares
subject
to option
(in millions)
Weighted-
average
exercise
price
Outstanding, year-end 2011. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31.0 $21.80
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.1 $22.04
Exercised. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6.7) $18.35
Canceled or Expired . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1.9) $23.28
Outstanding, year-end 2012. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.5 $22.61
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2 $37.68
Exercised. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (8.8) $22.22
Canceled or Expired . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (0.2) $25.47
Outstanding, year-end 2013. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.7 $25.66
Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2 $49.42
Exercised. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5.2) $23.13
Canceled or Expired . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (0.3) $31.05
Outstanding, year-end 2014. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.4 $31.13
A summary of options outstanding and exercisable at January 31, 2015 follows:
Range of Exercise
Prices
Number
outstanding
Weighted-
average
remaining
contractual life
Weighted-
average
exercise price
Options
exercisable
Weighted-
average
exercise price
(in millions) (in years) (in millions)
15.92 – 21.95 3.2 3.47 $19.53 3.0 $19.46
21.96 – 22.60 4.2 6.40 $22.09 2.7 $22.16
22.61 – 28.26 2.6 6.15 $24.77 1.8 $24.79
28.27 – 37.75 2.8 3.04 $28.52 2.7 $28.47
37.76 – 49.32 3.5 8.46 $37.96 1.1 $37.82
49.33 – 61.89 4.1 9.46 $49.55 — $49.33
20.4 6.41 $31.13 11.3 $24.92
The weighted-average remaining contractual life for options exercisable at January 31, 2015, was
approximately 4.7 years. The intrinsic value of options outstanding and exercisable at January 31, 2015 was
$775 and $500, respectively.