Southwest Airlines 2010 Annual Report Download - page 101

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Aggregated information regarding Company issued stock options is summarized below:
COLLECTIVE BARGAINING PLANS
Options
(000)
Wtd.
average
exercise
price
Wtd.
average
remaining
contractual
term
Aggregate
intrinsic
value
(millions)
Outstanding December 31, 2007 .............................. 63,376 $13.93
Granted .................................................. 505 12.71
Exercised ................................................ (5,933) 13.06
Surrendered .............................................. (2,536) 16.45
Outstanding December 31, 2008 .............................. 55,412 $13.90
Granted .................................................. 81 7.66
Exercised ................................................ (11) 8.25
Surrendered .............................................. (3,044) 16.29
Outstanding December 31, 2009 .............................. 52,438 $13.75
Granted .................................................. 14 11.98
Exercised ................................................ (2,676) 12.68
Surrendered .............................................. (18,381) 12.88
Outstanding December 31, 2010 .............................. 31,395 $14.34 1.9 $3
Vested or expected to vest at December 31, 2010 ................. 31,393 $14.34 1.9 $3
Exercisable at December 31, 2010 ............................. 31,295 $14.34 1.9 $3
OTHER EMPLOYEE PLANS
Options
(000)
Wtd.
average
exercise
price
Wtd.
average
remaining
contractual
term
Aggregate
intrinsic
value
(millions)
Outstanding December 31, 2007 ............................... 28,527 $15.37
Granted .................................................. 1,642 12.13
Exercised ................................................. (2,447) 10.64
Surrendered ............................................... (1,233) 16.05
Outstanding December 31, 2008 ............................... 26,489 $15.57
Granted .................................................. 1,824 6.75
Exercised ................................................. (570) 10.36
Surrendered ............................................... (1,999) 14.05
Outstanding December 31, 2009 ............................... 25,744 $15.17
Granted .................................................. 10 12.04
Exercised ................................................. (673) 9.55
Surrendered ............................................... (5,494) 15.72
Outstanding December 31, 2010 ............................... 19,587 $15.22 3.8 $11
Vested or expected to vest at December 31, 2010 .................. 19,294 $15.22 3.8 $11
Exercisable at December 31, 2010 ............................. 15,523 $15.86 3.4 $ 3
The total aggregate intrinsic value of options exercised for all plans during the years ended December 31,
2010, 2009, and 2008, was $4 million, $1 million, and $24 million, respectively. The total fair value of shares
vesting during the years ended December 31, 2010, 2009, and 2008, was $10 million, $12 million, and $12
million, respectively.
95