Rue 21 2010 Annual Report Download - page 64

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The following table summarizes information regarding non-vested outstanding stock options as of January 29,
2011:
Shares
Weighted
Averaged Fair Value
at Grant Date
(In thousands) (Per share)
Non-vested as of January 30, 2010 ....................... 689 $ 4.70
Granted ........................................... 438 $17.37
Vested ............................................ (222) $ 3.76
Cancelled .......................................... (24) $ 9.23
Non-vested as of January 29, 2011 ....................... 881 $11.16
As of January 29, 2011, there was $9,670 of unrecognized compensation expense related to nonvested stock
option awards that is expected to be recognized over a weighted-average period of 1.96 years. The total fair value of
shares vested during the fiscal years ended January 29, 2011, January 30, 2010 and January 31, 2009, was $835,
$5,312 and $851, respectively.
Restricted Stock Activity
Below is a summary of restricted stock unit activity for the fifty-two weeks ended January 29, 2011:
Restricted Stock Units
Number of
Shares
Weighted-Average
Grant Date
Fair Value
(In thousands) (Per share)
Non-vested at January 30, 2010 ........................... — $ —
Granted ............................................. 25 $30.49
Vested .............................................. — $ —
Forfeited . . . ......................................... — —
Non-vested at January 29, 2011 ........................... 25 $30.49
The total fair value of restricted stock units granted during the fifty-two week period ended January 29, 2011,
was $0.8 million. As of January 29, 2011, there was $0.7 million of total unrecognized compensation cost related to
non-vested restricted stock units. The unrecognized cost is expected to be recognized over a weighted-average
period of 1.9 years.
Note 6 — Lease Commitments
All of the Company’s operations are conducted from leased premises. Store leases provide for base rentals,
some of which increase over time, and the payment of a percentage of sales as additional rent when sales exceed
specified levels. Minimum rentals relating to these leases are recorded on a straight-line basis. Generally, lease
terms are five to ten years in length excluding renewal options. In addition, the Company is typically responsible
under its leases for maintenance, common area charges, real estate taxes, and certain other expenses. Point of sale
equipment is also leased by the Company in terms of four years. All leases are classified as operating leases.
60
rue21, inc. and subsidiary
Notes to Consolidated Financial Statements — (continued)