Cabela's 2011 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)
The following table summarizes award activity during 2011 for the Company’s two stock plans:
All Awards Non-Vested Awards
Awards
Available
for Grant
Number of
Awards (1)
Weighted
Average
Exercise
Price
Number of
Awards (1)
Weighted
Average
Grant Date
Fair Value
Outstanding, beginning of year 3,262,733 6,242,324 $ 13.49 2,436,181 $ 9.08
Granted:
Non-qualified stock options (247,970) 247,970 26.53 247,970 11.30
Restricted stock awards (including
performance based restricted stock) (456,300) 456,300 - 456,300 26.72
Vested - (1,255,537) 9.37
Exercised - (1,631,379) 10.89
Forfeited (2) 124,087 (124,087) 5.86 (108,716 ) 13.26
Outstanding, end of year (3) 2,682,550 5,191,128 13.92 1,776,198 13.50
(1) Excludes restricted stock awards issued in July 2008.
(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 2011 were comprised of 106,048 of
incentive stock options, 3,981,139 of non-qualified stock options, 973,277 of nonvested stock awards, and
130,664 of performance based stock awards.
The following table provides information relating to the Company’s equity share-based payment awards at
December 31, 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 3,414,930 $ 17.75 $ 7.66 $ 26,214 3.68
Non-vested 1,776,198 6.58 13.50 35,684 6.26
Total outstanding 5,191,128 13.92 9.82 $ 61,898 4.58
Expected to vest after December 31, 2011 1,805,183 6.36 13.54 $ 34,732 6.25
The aggregate intrinsic value of awards exercised was $26,775, $8,493, and $1,168 during 2011, 2010, and
2009, respectively. The total fair value of shares vested was $11,759, $7,286, and $9,300 in 2011, 2010, and 2009,
respectively. Based on the Company’s closing stock price of $25.42 as of December 31, 2011, the total number of
in-the-money awards exercisable as of December 31, 2011, was 3,410,930.