Urban Outfitters 2009 Annual Report Download - page 74

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URBAN OUTFITTERS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table summarizes information concerning currently outstanding and exercisable
options as of January 31, 2009:
Options Outstanding Options Exercisable
Range of Exercise Prices
Amount
Outstanding
Wtd. Avg.
Remaining
Contractual
Life
Wtd.
Avg.
Exercise
Price
Amount
Exercisable
Wtd.
Avg.
Exercise
Price
$ 0.00 - $ 3.75 ...................... 1,280,450 2.2 $ 1.76 1,280,450 $ 1.76
$ 3.76 - $ 7.50 ...................... 1,513,050 4.2 4.46 1,513,050 4.46
$ 7.51 - $11.25 ...................... 208,000 2.9 9.21 208,000 9.21
$11.26 - $15.00 ...................... 2,548,700 5.4 14.26 2,536,700 14.27
$15.01 - $18.76 ...................... 195,000 5.7 15.60 160,000 15.38
$18.77 - $22.51 ...................... 146,500 7.7 20.22 80,000 19.77
$22.52 - $26.26 ...................... 371,000 6.7 24.20 320,000 24.19
$22.27 - $30.01 ...................... 308,000 6.5 28.15 298,000 28.11
$30.02 - $33.76 (1) ................... 3,394,250 6.9 31.09 3,302,750 31.11
$33.77 - $37.51 ...................... 1,089,300 6.6 37.33 — —
11,054,250 5.5 19.64 9,698,950 17.53
(1) Options included in this range contain certain restrictions on the sale of the stock which expire in
November 2010.
Non-vested Shares
The Company may make non-vested share awards to employees, non-employee directors and
consultants. A non-vested share award is an award of common shares that is subject to certain
restrictions during a specified period, such as an employee’s continued employment combined with the
Company achieving certain financial goals. The Company holds the common shares during the
restriction period, and the grantee cannot transfer the shares before the termination of that period. The
grantee is, however, generally entitled to vote the common shares and receive any dividends declared
and paid on the Company’s common shares during the restriction period.
Restricted Shares
During the fiscal year ended January 31, 2005, the Company granted 400,000 shares of restricted
common stock with a grant date fair value of $5,766 or $14.42 per share. Share-based compensation
expense of $1,156, $1,153 and $1,153 is included in the accompanying Consolidated Statements of
Income for each fiscal year ended January 31, 2009, 2008 and 2007, respectively. Total unrecognized
compensation expense of non-vested, non-performance shares granted, as of January 31, 2009 was
$442, which is expected to be recognized over the period of 0.4 years. As of January 31, 2009 this was
the only grant of non-vested, non-performance shares.
F-26