American Airlines 2006 Annual Report Download - page 75

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71
9. Share Based Compensation (Continued)
A summary of stock option/SSARs activity under the LTIP Plans, the 2003 Plan and the Pilot Plan as of
December 31, 2006, and changes during the year then ended is presented below:
LTIP Plans The Pilot Plan and the 2003 Plan
Options/SSARs
Weighted
Average
Exercise
Price
Options
Weighted
Average
Exercise
Price
Outstanding at January 1 19,279,192 $ 25.70 39,773,837 $ 8.35
Granted 796,250 23.68 18,830 19.49
Exercised (4,053,551) 20.57 (18,061,415) 8.93
Forfeited or Expired (419,563) 22.03 (171,818) 6.55
Outstanding at December 31
15,602,328
$ 27.03
21,559,434
$ 7.89
Exercisable at December 31
13,194,458
$ 28.71
20,015,199
$ 7.64
Weighted Average Remaining
Contractual Term of Options
Outstanding (in years)
4.1
5.3
Aggregate Intrinsic Value of
Options Outstanding
$ 49,943,248
$ 481,669,842
The aggregate intrinsic value of all vested options/SSARs is $472 million and those options have an average
remaining contractual life of 4.5 years. The weighted-average grant date fair value of options/SSARs granted
during 2006, 2005 and 2004 was $10.93, $6.28 and $4.23, respectively. The total intrinsic value of
options/SSARs exercised during 2006, 2005 and 2004 was $350 million, $75 million and $7 million, respectively.
A summary of the status of the Company’s non-vested options/SSARs under all plans as of December 31, 2006,
and changes during the year ended December 31, 2006, is presented below:
Weighted
Options/SSARs
Average
Grant Date Fair
Value
Outstanding at January 1 16,838,541 $ 3.55
Granted 815,080 10.90
Vested (13,396,444) 2.96
Forfeited (305,072) 4.54
Outstanding at December 31
3,952,105
$ 6.98
As of December 31, 2006, there was $17 million of total unrecognized compensation cost related to non-vested
stock options/SSARs granted under the LTIP Plans, the 2003 Plan and the Pilot Plan that is expected to be
recognized over a weighted-average period of 2.7 years. The total fair value of stock options/SSARs vested
during the years ended December 31, 2006, 2005 and 2004, was $25 million, $42 million and $64 million,
respectively.