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RADIOSHACK 2003 Annual Report
50
maximum number of shares of our common stock that
an eligible employee may receive in any calendar year
with respect to options may not exceed 1.0 million
shares.There were 516,088 shares available on
December 31, 2003, for grants under the 1999 ISP.
>2001 Incentive Stock Plan (“2001 ISP”): The 2001 ISP permits
the grant of up to 9.2 million shares in the form of ISOs
and NQs.The 2001 ISP provides that the maximum
number of shares of our common stock that an eligible
employee may receive in any calendar year with respect
to options may not exceed 0.5 million shares.There were
5,340,986 shares available on December 31, 2003, for
grants under the 2001 ISP.
Stock Option Activity: See tables below for a summary of
stock option transactions under our stock option plans and
information about fixed price stock options.
were also assumed by us at the time of acquisition. On
September 10, 2003, we sold RSIS.
>1997 Incentive Stock Plan (“1997 ISP”): The 1997 ISP permits
the grant of up to 11.0 million shares in the form of ISOs,
NQs and restricted stock.The 1997 ISP provides that the
maximum number of shares of our common stock that
an eligible employee may receive in any calendar year
with respect to options may not exceed 1.0 million
shares.There were 366,145 shares available on December
31, 2003, for grants under the 1997 ISP.
>1999 Incentive Stock Plan (“1999 ISP”): The 1999 ISP permits
the grant of up to 9.5 million shares in the form of NQs
to broad-based employee groups, primarily our 5,000
plus store managers and to other eligible employees and
non-employee directors. Grants of restricted stock,
performance awards and options intended to qualify as
ISO’s under the Internal Revenue Code are not authorized
under the 1999 ISP. The 1999 ISP provides that the
SUMMARY OF STOCK OPTION TRANSACTIONS
2003 2002 2001
Weighted Weighted Weighted
Average Average Average
Exercise Exercise Exercise
(Share amounts in thousands)
Shares Price Shares Price Shares Price
Outstanding at beginning of year 22,816 $34.32 22,869 $34.34 15,179 $34.33
Grants(1) 3,541 21.31 1,515 28.80 9,384 34.42
Exercised (755) 20.72 (525) 17.50 (378) 19.84
Forfeited (1,713) 33.85 (1,043) 35.23 (1,316) 38.93
Outstanding at end of year 23,889 $32.85 22,816 $34.32 22,869 $34.34
Exercisable at end of year 17,438 $34.99 14,227 $34.25 9,589 $31.20
(1) The number of options granted in 2001 was higher than 2002 and 2003 due to the issuance of options to employees in both February and December of 2001.
The December 2001 grant did not include named executive officers or directors.
FIXED PRICE STOCK OPTIONS
Options Outstanding Options Exercisable
Weighted Weighted Weighted
Shares Average Average Shares Average
(Share amounts in thousands) Outstanding at Remaining Exercise Exercisable at Exercise
Range of Exercise Prices Dec. 31, 2003
Contractual Life Price
Dec. 31, 2003
Price
$10.47 - 20.85 4,816 4.95 years $18.44 1,774 $14.32
21.08 - 28.03 4,185 5.09 26.02 3,952 26.16
28.55 - 37.19 4,145 5.16 29.22 2,348 29.06
38.35 - 39.03 5,710 6.92 38.49 4,331 38.54
42.41 - 69.34 5,033 5.18 48.91 5,033 48.91
$10.47 - 69.34 23,889 5.53 years $32.85 17,438 $34.99