Supercuts 2009 Annual Report Download - page 130

Download and view the complete annual report

Please find page 130 of the 2009 Supercuts annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 160

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160

Table of Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
15. SHAREHOLDERS' EQUITY (Continued)
from the grant date. The 2000 Plan contains restrictions on transferability, time of exercise, exercise price and on disposition of any shares
acquired through exercise of the options. Stock options are granted at not less than fair market value on the date of grant. The Board of Directors
determines the 2000 Plan participants and establishes the terms and conditions of each option.
The Company also has outstanding stock options under the 1991 Plan, although the Plan terminated in 2001. The terms and conditions of
the 1991 Plan are similar to the 2000 Plan. Total options covering 5,200,000 shares of common stock were available for grant under the 1991
Plan and, as of June 30, 2001, all available shares were granted.
Common shares available for grant under the following plans as of June 30 were:
Stock options outstanding and weighted average exercise prices were as follows:
Outstanding options of 1,384,956 at June 30, 2009 had an intrinsic value (the amount by which the stock price exceeded the exercise or
grant date price) of $0.9 million and a weighted average remaining contractual term of 3.7 years. Exercisable options of 1,153,256 at June 30,
2009 had an intrinsic value of $0.9 million and a weighted average remaining contractual term of 2.8 years. An additional 219,694 options are
expected to vest with a $33.41 per share weighted average exercise price and a weighted average remaining contractual life of 7.9 years that have
a total intrinsic value of zero.
128
2009 2008 2007
(Shares in thousands)
2000 Plan
268
232
136
2004 Plan
103
1,220
1,567
371
1,452
1,703
Options Outstanding
Shares
Weighted
Average
Exercise Price
(in thousands)
Balance, June 30, 2006
2,908
$
20.59
Granted
141
39.04
Cancelled
(27
)
27.06
Exercised
(829
)
17.22
Balance, June 30, 2007
2,193
22.97
Granted
143
28.57
Cancelled
(97
)
34.17
Exercised
(526
)
16.91
Balance, June 30, 2008
1,713
24.55
Granted
9
35.15
Cancelled
(102
)
30.20
Exercised
(235
)
16.60
Balance, June 30, 2009
1,385
$
25.55
Exercisable June 30, 2009
1,153
$
23.98