Ross 2011 Annual Report Download - page 54

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52
The following table summarizes information about the weighted average remaining contractual life (in years) and the weighted
average exercise prices for stock options both outstanding and exercisable as of January 28, 2012 (number of shares in
thousands):
Options outstanding and exercisable
Exercise price range Number of shares Remaining life Exercise price
$ 8.19 to $ 12.23 681 1.48 $ 10.89
12.27 to 13.91 730 3.44 13.53
13.92 to 14.57 613 3.15 14.31
14.59 to 16.43 394 3.18 15.09
$ 8.19 to $ 16.43 2,418 2.77 $ 13.24
A summary of the restricted stock activity for fiscal 2011 is presented below:
Weighted
average
Number of grant date
(000, except per share data) shares fair value
Unvested at January 29, 2011 5,671 $ 18.50
Awarded 1,603 32.91
Released (1,725) 17.00
Forfeited (196) 20.16
Unvested at January 28, 2012 5,353 $ 23.23
The market value of restricted shares at the date of grant is amortized to expense ratably over the vesting period of generally
three to five years. The unamortized compensation expense at January 28, 2012 and January 29, 2011 was $67.5 million and
$56.8 million, respectively, which is expected to be recognized over a weighted average remaining period of 2.0 years. Intrinsic
value for restricted stock, defined as the closing market value on the last business day of fiscal year 2011 (or $51.09), was
$273.5 million. A total of 7,811,000, 8,770,000, and 9,886,000 shares were available for new restricted stock awards at the end
of fiscal 2011, 2010, and 2009, respectively. During fiscal 2011, 2010, and 2009, shares purchased by the Company for tax
withholding totaled 442,000, 350,000, and 326,000 shares, respectively, and are considered treasury shares which are available
for reissuance. As of January 28, 2012 and January 29, 2011, the Company held 3,354,000 and 2,932,000 shares of treasury
stock, respectively.
Performance share awards. The Company has a performance share award program for senior executives. A performance
share award represents a right to receive shares of common stock on a specified settlement date based on the Company’s
attainment of a profitability-based performance goal during the performance period, which is the Company’s fiscal year. If
attained, the common stock then issued vests over the service period, generally three years from the date the performance award
was granted. The Company issued approximately 467,000, 656,000, and 792,000 shares in settlement of the fiscal 2011, 2010,
and 2009 awards.