Westjet 2002 Annual Report Download - page 47

Download and view the complete annual report

Please find page 47 of the 2002 Westjet 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 60

  • 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

Figures in Review
Notes to Consolidated Financial Statements
Diane Anderson, Recruiter
Rod Perreautt, Stores
Years ended December 31, 2002 and 2001
(Tabular Amounts are Stated in Thousands of Dollars, Except Per Share Data)
6. Share capital (continued):
(d) Stock Option Plan (continued):
Changes in the number of options, with their weighted average exercise prices, are summarized below:
2002 2001
Weighted Weighted
average average
Number of exercise Number of exercise
options price options price
Stock options outstanding,
beginning of year 5,579,517 $ 11.85 5,037,182 $ 6.43
Granted 1,140,292 20.70 2,681,601 14.64
Exercised (879,019) 2.43 (2,019,022) 1.92
Cancelled (31,602) 15.67 (120,244) 13.73
Stock options outstanding,
end of year 5,809,188 $ 14.99 5,579,517 $ 11.85
Exercisable, end of year 276,159 $ 3.48 829,329 $ 2.41
The following table summarizes the options outstanding and exercisable at December 31, 2002:
Outstanding Exercisable Options
Range of Number Weighted Weighted Number Weighted
Exercise Outstanding Average Average Exercisable Average
Prices Remaining Exercise Exercise
Life (years) Price Price
$2.67 - $4.45 276,159 0.33 $ 3.48 276,159 $ 3.48
$10.99 - $12.67 44,381 2.41 12.15 - -
$13.65 - $14.68 4,355,706 2.02 14.26 - -
$15.81 - $20.75 1,132,942 3.31 20.70 - -
5,809,188 2.19 $ 14.99 276,159 $ 3.48
Upon filing the Corporation’s initial public offering on July 13, 1999, 237,533 options were
re-priced from $2.67 per share to $4.45 per share and of this amount 125,033 (2001 – 192,533) were
remaining at December 31, 2002. The Corporation committed to the holders of the options that it
would pay the differential of $1.78 per share upon exercise of those options.