Rite Aid 2015 Annual Report Download - page 102

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RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended February 28, 2015, March 1, 2014 and March 2, 2013
(In thousands, except per share amounts)
15. Stock Option and Stock Award Plans (Continued)
The weighted average fair value of options granted during fiscal 2015, 2014 and 2013 was $4.43,
$1.91 and $0.91, respectively. Following is a summary of stock option transactions for the fiscal years
ended February 28, 2015, March 1, 2014 and March 2, 2013:
Weighted Weighted
Average Average
Exercise Remaining Aggregate
Price Contractual Intrinsic
Shares Per Share Term Value
Outstanding at March 3, 2012 ........ 73,798 $1.52
Granted ....................... 12,020 1.32
Exercised ...................... (1,535) 1.06
Cancelled ...................... (3,283) 2.08
Outstanding at March 2, 2013 ........ 81,000 $1.48
Granted ....................... 4,828 2.76
Exercised ...................... (26,873) 1.24
Cancelled ...................... (2,989) 2.46
Outstanding at March 1, 2014 ........ 55,966 $1.65
Granted ....................... 3,097 7.04
Exercised ...................... (16,485) 1.46
Cancelled ...................... (910) 3.16
Outstanding at February 28, 2015 ...... 41,668 $2.09 6.05 $245,237
Vested or expected to vest at
February 28, 2015 ................ 40,422 $2.09 6.01 $237,899
Exercisable at February 28, 2015 ....... 25,375 $1.74 5.05 $158,240
As of February 28, 2015, there was $17,871 of total unrecognized pre-tax compensation costs
related to unvested stock options, net of forfeitures. These costs are expected to be recognized over a
weighted average period of 2.58 years.
Cash received from stock option exercises for fiscal 2015, 2014 and 2013 was $24,117, $33,217 and
$1,646, respectively. The income tax benefit from stock options for fiscal 2015, 2014 and 2013 was
$30,099, $23,660 and $0, respectively. The total intrinsic value of stock options exercised for fiscal 2015,
2014 and 2013 was $92,355, $80,598 and $714, respectively.
Typically, stock options granted vest, and are subsequently exercisable in equal annual installments
over a four-year period for employees.
Restricted Stock
The Company provides restricted stock grants to associates under plans approved by the
stockholders. Shares awarded under the plans typically vest in equal annual installments over a
three-year period. Unvested shares are forfeited upon termination of employment. Following is a
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