Cabela's 2010 Annual Report Download - page 108

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98
CABELA’S INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Share and Per Share Amounts)
(2) Options forfeited under the 2004 Plan are immediately available for grant. Options forfeited under the 1997
Plan do not become available for grant under the 2004 Plan.
(3) Total awards outstanding under the 2004 and 1997 Plans at the end of 2010 were comprised of 320,543 of
incentive stock options, 4,739,427 of non-qualified stock options, 1,085,354 of nonvested stock awards, and
97,000 of performance based stock awards.
The following table provides information relating to the Company’s equity share-based payment awards at
January 1, 2011:
Number
of Awards
Weighted
Average
Exercise
Price
Weighted
Average
Fair
Value
Aggregate
Intrinsic
Value
Weighted
Average
Remaining
Contractual
Life (in Years)
Vested and exercisable 3,806,143 $17.74 $7.61 $15,829 4.26
Non-vested 2,436,181 6.86 9.08 36,286 6.40
Total outstanding 6,242,324 13.49 8.18 $52,115 5.10
Expected to vest after January 1, 2011 2,390,957 6.89 8.29 $35,537 6.39
The aggregate intrinsic value of awards exercised was $8,493, $1,168, and $2,602 during 2010, 2009, and
2008, respectively. The total fair value of shares vested was $7,286, $9,300, and $12,864, in 2010, 2009, and 2008,
respectively. Based on the Company’s closing stock price of $21.75 as of January 1, 2011, the total number of in-the-
money awards exercisable as of January 1, 2011, was 2,929,143.
The equity share-based payment awards outstanding and exercisable as of January 1, 2011, were in the
following exercise price ranges:
Awards Outstanding Awards Exercisable
Exercise
Price Number
Weighted
Average
Exercise
Price
Average
Remaining
Contractual
Life
(in Years) Number
Weighted
Average
Exercise
Price
$ 0.00 to $10.00 2,001,937 $3.38 5.92 357,750 $8.55
$10.01 to $15.00 457,879 12.30 3.00 447,879 12.29
$15.01 to $17.50 1,206,553 15.49 5.77 585,959 15.25
$17.51 to $20.00 1,698,955 19.72 4.43 1,537,555 19.75
$20.01 to $25.00 873,000 22.38 4.35 873,000 22.38
$25.01 to $30.00 4,000 27.26 3.57 4,000 27.26
6,242,324 13.49 5.10 3,806,143 17.74
Inducement Awards – On March 13, 2009, the Company granted nonqualified stock options and nonvested
stock units to Cabela’s President and Chief Executive Officer pursuant to an employment inducement award
exemption under the New York Stock Exchange. The Company granted 111,720 nonqualified stock options at an
exercise price of $8.68 per share. These options are subject to the same terms and conditions of the 2004 Plan, have
an eight-year term, and vest over three years. The Company also issued 138,249 units of nonvested stock at a fair
value of $10.25 per unit. These nonvested stock units are subject to the same terms and conditions of the 2004 Plan
and vest over three years. During 2010, there were 46,083 stock units that vested. At January 1, 2011, there were
92,166 units of nonvested stock remaining to vest.