Urban Outfitters 2012 Annual Report Download - page 77

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Table of Contents
URBAN OUTFITTERS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(in thousands, except share and per share data)
The following table summarizes information concerning outstanding and exercisable stock options as of January 31, 2012:
Awards Outstanding Awards Exercisable
Range of Exercise Prices
Amount
Outstanding
Wtd. Avg.
Remaining
Contractual
Life
Wtd.
Avg.
Exercise
Price
Amount
Exercisable
Wtd.
Avg.
Exercise
Price
$ 0.00 - $ 3.96 41,900 0.2 $ 2.86 41,900 $ 2.86
$ 3.97 - $ 7.92 630,500 1.4 4.72 630,500 4.72
$11.87 - $15.83 579,000 2.4 14.38 579,000 14.38
$15.84 - $19.79 138,750 4.2 19.12 80,000 19.77
$19.80 - $23.75 119,000 4.0 22.06 115,000 22.07
$23.76 - $27.71 497,000 3.6 25.62 472,000 25.65
$27.72 - $31.66 2,512,500 3.7 31.06 2,505,375 31.06
$31.67 - $35.62 494,600 4.5 32.98 161,960 32.62
$35.63 - $39.58 1,017,400 4.0 37.60 554,990 37.78
6,030,650 3.5 $ 26.86 5,140,725 $ 25.63
Stock Appreciation Rights
The Company granted SAR's during fiscal 2012 and 2011. There were no SAR's issued or outstanding during fiscal 2010. These SAR's generally vest
over a five year period. Each vested SAR entitles the holder the right to the differential between the value of the Company's common share price at the date of
exercise and the value of the Company's common share price at the date of grant. As of January 31, 2012, none of these SAR's had vested. The following
weighted average assumptions were used in the Model to estimate the fair value of SAR's at the date of grant:
Fiscal Year Ended
January 31,
2012 2011
Expected life, in years 4.8 5.3
Risk-free interest rate 0.8% 1.6%
Volatility 48.8% 47.9%
Dividend rate — —
F-26