Restoration Hardware 2015 Annual Report Download - page 95

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92
A summary of additional information about stock options is as follows:
Year Ended
January 30,
2016
January 31,
2015
February 1,
2014
Weighted-average fair value per share of stock
options granted....................................................... $ 36.43 $ 26.92 $ 30.49
Aggregate intrinsic value of stock options exercised
(in thousands) ........................................................ $ 32,590 $ 62,015 $ 11,623
Fair value of stock options vested (in thousands) ....... $ 8,611 $ 2,246 $ 33,871
Information about stock options outstanding, vested or expected to vest, and exercisable as of January 30, 2016 is as follows:
Options Outstanding Options Exercisable
Range of Exercise Prices
Number of
Options
Weighted-
Average
Remaining
Contractual
Life (in years)
Weighted-
Average
Exercise Price
Number of
Options
Weighted-
Average
Exercise
Price
$24.00 - $39.00 ...................................................................... 853,342 6.75 $ 28.29 794,467 $ 27.85
$46.50 - $46.50 ...................................................................... 2,976,826 6.75 46.50 2,976,826 46.50
$56.27 - $74.03 ...................................................................... 938,935 8.27 61.67 83,505 61.70
$75.43 - $75.43 ...................................................................... 1,020,000 7.42 75.43 1,008,000 75.43
$76.80 - $101.84 .................................................................... 746,470 9.20 89.33 20,042 81.60
Total ....................................................................................... 6,535,573 7.35 $ 55.71 4,882,840 $ 49.84
Vested or expected to vest...................................................... 6,336,741 7.31 $ 55.00
The aggregate intrinsic value of options outstanding, options vested or expected to vest, and options exercisable as of January
30, 2016 was $73.8 million, $73.6 million, and $57.2 million, respectively. Stock options exercisable as of January 30, 2016 had a
weighted-average remaining contractual life of 6.92 years.
The Company recorded stock-based compensation expense for stock options of $10.4 million, $6.9 million and $1.3 million in
fiscal 2015, fiscal 2014 and fiscal 2013, respectively. As of January 30, 2016, the total unrecognized compensation expense related to
unvested options was $35.9 million, which is expected to be recognized on a straight-line basis over a weighted-average period of 3.59
years.
2012 Stock Incentive Plan—Restricted Stock Awards
The Company grants restricted stock awards, which include restricted stock and restricted stock units, to its employees and
members and advisor of its Board of Directors. A summary of restricted stock award activity under the Stock Incentive Plan for fiscal
2015 is as follows:
Awards
Weighted-Average
Grant Date Fair Value Intrinsic Value
Outstanding—January 31, 2015 .................................. 719,998 $ 64.09
Granted ................................................................... 295,512 90.14
Released ................................................................. (137,227) 65.69
Cancelled ................................................................ (72,368) 66.96 $ 49,660,482
Outstanding—January 30, 2016 .................................. 805,915 $ 73.11
A summary of additional information about restricted stock awards is as follows:
Year Ended
January 30,
2016
January 31,
2015
February 1,
2014
Weighted-average fair value per share of awards
granted ................................................................... $ 90.14 $ 63.59 $ 65.37
Grant date fair value of awards released (in
thousands) .............................................................. $ 12,223 $ 6,172 $ 760