Safeway 2005 Annual Report Download - page 70

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SAFEWAY INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
50
Activity in the Company’s stock option plans for the three-year period ended December 31, 2005 was as follows:
Options
Weighted
average
exercise price
Aggregate
intrinsic value
(in millions)
Outstandin
g
,
y
ear-end 2002 37,943,510 $ 31.70
2003 Activity:
Granted 4,230,118 21.87
Canceled (3,355,444) 38.42
Exercised (2,511,557) 6.85
Outstandin
g
,
y
ear-end 2003 36,306,627 $ 31.51 $ 141.8
2004 Activity:
Granted 5,871,639 20.60
Canceled (12,167,123) 44.07
Exercised (3,196,582) 6.78
Outstandin
g
,
y
ear-end 2004 26,814,561 $ 26.37 $ 81.4
2005 Activity:
Granted 11,515,944 20.19
Canceled (1,575,189) 28.55
Exercised (1,889,572) 8.12
Outstandin
g
,
y
ear-end 2005 34,865,744 $ 25.23 $ 139.3
Exercisable, year-end 2003 21,697,133 $27.24 138.5
Exercisable
,
y
ear-end 2004 15
,
218
,
373 26.35 81.1
Exercisable
,
y
ear-end 2005 16
,
239
,
331 29.16 81.9
Weighted average fair value of options granted during the year:
2003 $9.64
2004 8.57
2005 6.32
The total intrinsic value of options exercised in 2005 was $26.6 million. As of year-end 2005, there was $139.0 million of
total unrecognized compensation cost related to nonvested stock-based compensation arrangements granted under the
Company’s stock option plans. That cost is expected to be recognized over a weighted average period of 1.8 years.