Westjet 2002 Annual Report Download - page 46

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Figures in Review
Notes to Consolidated Financial Statements
Years ended December 31, 2002 and 2001
(Tabular Amounts are Stated in Thousands of Dollars, Except Per Share Data)
6. Share capital:
The non-voting common shares and the non-voting preferred shares are subject to limitations to be fixed
by the directors of the Corporation.
(a) Authorized:
Unlimited number of voting common shares
700,000 non-voting performance shares
Unlimited number of non-voting shares
Unlimited number of non-voting first, second and third preferred shares
(b) Issued:
2002 2001
Number Amount Number Amount
Common shares:
Balance, beginning of year 69,516,897 $ 129,268 67,497,875 $ 125,390
Common share issue 4,500,000 82,500 - -
Exercise of options 879,019 2,134 2,019,022 3,878
Issued on rounding of stock split 3,693 - - -
Share issuance costs - (3,672) - -
Tax benefit of issue costs - 1,334 - -
Balance, end of year 74,899,609 $ 211,564 69,516,897 $ 129,268
(c) Stock split:
On May 3, 2002, the common shares of the Corporation were split on a three-for-two basis.
All number of shares and per share amounts have been restated to reflect the stock split.
(d) Stock Option Plan:
The Corporation has a Stock Option Plan, whereby up to a maximum of 7,476,330 common shares may be
issued to officers and employees of the Corporation subject to the following limitations:
(i) the number of common shares reserved for issuance to any one optionee will not exceed 5% of
the issued and outstanding common shares at any time;
(ii) the number of common shares reserved for issuance to insiders shall not exceed 10% of the issued
and outstanding common shares; and
(iii) the number of common shares issuable under the Plan, which may be issued within a one-year
period, shall not exceed 10% of the issued and outstanding common shares at any time.
Stock options are granted at a price that equals the market value, have a term of four years and vest
over a period of two to three years.
Flight Attendants Tim MacRae and Marcela Jara find an entertaining use for air sickness bags.
46 2002 WestJet Annual Report