Polaris 2010 Annual Report Download - page 68

Download and view the complete annual report

Please find page 68 of the 2010 Polaris annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 94

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94

recognized over a weighted-average period of 1.56 years. Included in unrecognized share-based compensation is
approximately $15,899,000 related to stock options and $2,707,000 for restricted stock.
General stock option and restricted stock information: The following summarizes stock option activity and the
weighted average exercise price for the following plans for the each of the three years ended December 31, 2010,
2009 and 2008:
Outstanding
Shares
Weighted
Average
Exercise Price
Outstanding
Shares
Weighted
Average
Exercise Price
Outstanding
Shares
Weighted
Average
Exercise Price
Outstanding
Shares
Weighted
Average
Exercise Price
Option Plan Omnibus Plan Broad Based Plan Director Stock Option Plan
Balance as of December 31,
2007 . . . . . . . . . . . . . . 4,140,297 $37.51 14,000 $49.28 46,400 $15.78 88,000 $46.06
Granted . . . . . . . . . . . . — — 764,100 41.24 — — — —
Exercised . . . . . . . . . . . (484,548) 24.17 — — (8,600) 15.78 — —
Forfeited . . . . . . . . . . . (249,900) 64.79 (2,200) 38.04 (1,000) 15.78 — —
Balance as of December 31,
2008 . . . . . . . . . . . . . . 3,405,849 $37.41 775,900 $41.40 36,800 $15.78 88,000 $46.06
Granted . . . . . . . . . . . . — — 667,000 25.16 — — — —
Exercised . . . . . . . . . . . (165,826) 19.34 — — (33,999) 15.78 — —
Forfeited . . . . . . . . . . . (20,400) 44.78 (24,000) 40.18 (2,801) 15.78 — —
Balance as of December 31,
2009 . . . . . . . . . . . . . . 3,219,623 $38.29 1,418,900 $33.78 — — 88,000 $46.06
Granted . . . . . . . . . . . . — — 807,906 53.61 — — — —
Exercised . . . . . . . . . . . (1,975,993) 33.00 (3,000) 48.50 — — (36,000) 49.30
Forfeited . . . . . . . . . . . (6,750) 42.97 (69,400) 37.58 — — — —
Balance as of December 31,
2010 . . . . . . . . . . . . . . 1,236,880 $46.72 2,154,406 $41.07 — — 52,000 $43.82
Vested or expected to vest as
of December 31, 2010 . . . 1,236,880 $46.72 2,056,540 $40.85 — — 52,000 $43.82
Options exercisable as of
December 31, 2010 . . . . . 1,236,880 $46.72 10,500 $49.63 — — 52,000 $43.82
The following table summarizes information about stock options outstanding at December 31, 2010:
Range of Exercise Prices
Number
Outstanding at
12/31/10
Weighted Average
Remaining
Contractual Life
Weighted
Average
Exercise Price
Number
Exercisable at
12/31/10
Weighted
Average
Exercise Price
Options Outstanding Options Exercisable
$19.80 to $20.06 .......... 357,000 8.09 $19.85 — —
$20.07 to $30.97 .......... 439,012 5.97 $28.98 155,012 $26.57
$30.98 to $43.02 .......... 418,848 5.80 $39.43 130,448 $42.60
$43.03 to $44.66 .......... 596,876 7.54 $44.18 102,400 $43.80
$44.67 to $46.66 .......... 628,500 6.55 $45.85 379,500 $46.30
$46.67 to $59.45 .......... 513,020 4.93 $52.93 491,020 $52.96
$59.46 to $59.96 .......... 432,330 9.70 $59.96 — —
$59.97 to $75.21 .......... 57,700 5.85 $68.64 41,000 $69.38
The weighted average remaining contractual life of outstanding options was 6.86 years as of December 31,
2010.
53
POLARIS INDUSTRIES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)