Whole Foods 2014 Annual Report Download - page 54

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51
Stock Options
The following table summarizes stock option activity (in millions, except per share amounts and contractual lives in years):
Number
of options
outstanding
Weighted
average
exercise price
Weighted
average
remaining
contractual life
Aggregate
intrinsic
value
Outstanding options at September 25, 2011 27.3 $ 24.50
Options granted 7.2 44.23
Options exercised (13.7) 26.44
Options expired (0.1) 25.10
Options forfeited (0.7) 28.32
Outstanding options at September 30, 2012 20.0 $ 30.17
Options granted 4.3 51.33
Options exercised (4.1) 20.52
Options expired (0.1) 18.86
Options forfeited (0.9) 37.20
Outstanding options at September 29, 2013 19.2 $ 36.90
Options granted 5.3 40.25
Options exercised (1.5) 24.13
Options expired (0.1) 36.10
Options forfeited (0.6) 42.32
Outstanding options at September 28, 2014 22.3 $ 38.37 4.81 $ 93
Vested/expected to vest at September 28, 2014 21.2 $ 38.15 4.53 $ 92
Exercisable options at September 28, 2014 9.3 $ 32.70 3.75 $ 78
The weighted average grant date fair value of options granted during fiscal years 2014, 2013 and 2012 was $9.67, $12.36 and
$13.68, respectively. The aggregate intrinsic value of stock options at exercise, represented in the table above, was approximately
$36 million, $125 million and $201 million during fiscal years 2014, 2013 and 2012, respectively. The Company realized a tax
benefit from stock options exercised during fiscal years 2014, 2013 and 2012 totaling approximately $36 million, $123 million
and $198 million, respectively. The total fair value of shares vested during fiscal years 2014, 2013 and 2012 was approximately
$192 million, $246 million and $186 million, respectively, including the value of vested options exercised during those same
periods. As of the end of fiscal years 2014 and 2013, there was approximately $108 million and $130 million of unrecognized
share-based payment expense, respectively, related to unvested stock options, net of estimated forfeitures, related to
approximately 11.9 million shares and 12.4 million shares, respectively. The Company anticipates this expense to be recognized
over a weighted average period of 2.9 years.
A summary of stock options outstanding and exercisable at September 28, 2014 follows (share amounts in millions):
Range of Exercise Prices Options Outstanding Options Exercisable
From To
Number
of options
outstanding
Weighted
average
exercise price
Weighted
average
remaining
life (in years)
Number
of options
exercisable
Weighted
average
exercise price
$ 9.45 $ 18.49 1.0 $ 9.59 1.65 1.0 $ 9.56
20.42 28.50 2.4 20.43 3.30 2.1 20.42
31.25 38.50 8.1 34.81 5.22 2.4 31.25
40.81 46.28 6.2 44.29 4.62 2.8 44.26
51.25 59.15 4.6 51.93 5.79 1.0 51.86
22.3 $ 38.37 4.81 9.3 $ 32.70
Share-based payment expense related to vesting stock options recognized during fiscal years 2014, 2013 and 2012 totaled
approximately $63 million, $56 million and $42 million, respectively.