American Airlines 2007 Annual Report Download - page 71

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68
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, 2007, 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
15,602,328
$ 27.03
21,559,434
$ 7.89
Granted 697,940 28.53 - -
Exercised (4,230,379) 25.16 (7,015,519) 12.19
Forfeited or Expired (225,274) 28.48 (267,862) 13.85
Outstanding at December 31
11,844,615
$ 27.76
14,276,053
$ 5.66
Exercisable at December 31
9,774,015
$ 29.29
13,381,132
$ 5.29
Weighted Average Remaining
Contractual Term of Options
Outstanding (in years)
3.9
5.4
Aggregate Intrinsic Value of
Options Outstanding
$ 3,146,591
$ 119,545,812
The aggregate intrinsic value of all vested options/SSARs is $118 million and those options have an average
remaining contractual life of 4.3 years. The weighted-average grant date fair value of options/SSARs granted
during 2007, 2006 and 2005 was $12.63, $10.93 and $6.28, respectively. The total intrinsic value of
options/SSARs exercised during 2007, 2006 and 2005 was $193 million, $350 million and $75 million,
respectively.
A summary of the status of the Company’s non-vested options/SSARs under all plans as of December 31, 2007,
and changes during the year ended December 31, 2007, is presented below:
Weighted
Options/SSARs
Average
Grant Date Fair
Value
Outstanding at January 1
3,952,105
$ 6.98
Granted 697,940 12.63
Vested (1,575,904) 7.37
Forfeited (108,620) 8.02
Outstanding at December 31
2,965,521
$ 8.07
As of December 31, 2007, there was $15 million of total unrecognized compensation cost related to non-vested
stock options/SSARs granted under the LTIP Plans and the 2003 Plan that is expected to be recognized over a
weighted-average period of 2.9 years. The total fair value of stock options/SSARs vested during the years ended
December 31, 2007, 2006 and 2005, was $9 million, $25 million and $42 million, respectively.