Cabela's 2011 Annual Report Download - page 109

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99
CABELA’S INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Share and Per Share Amounts)
The equity share-based payment awards outstanding and exercisable as of December 31, 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 1,576,664 $ 2.40 5.96 257,437 $ 8.00
$10.01 to $15.00 344,958 12.30 2.05 339,958 12.29
$15.01 to $17.50 920,376 15.55 4.94 722,116 15.37
$17.51 to $20.00 1,382,685 19.72 3.48 1,376,019 19.73
$20.01 to $25.00 737,900 22.40 3.53 715,400 22.38
$25.01 to $30.00 228,545 26.88 7.09 4,000 27.26
5,191,128 13.92 4.58 3,414,930 17.75
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 2011, there were 46,083 stock units that vested. At December 31, 2011, there were
46,083 units of nonvested stock remaining to vest.
Employee Stock Purchase Plan – The maximum number of shares of common stock available for issuance
under the Company’s Employee Stock Purchase Plan is 1,835,000. During 2011, there were 106,079 shares issued.
At December 31, 2011, there were 744,836 shares authorized and available for issuance.
401(k) Savings Plan – All employees are eligible to defer up to 80% of their wages in Cabela’s 401(k) savings
plan, subject to certain limitations. The Company matches 100% of eligible employee deferrals up to 4% of eligible
wages. For eligible employees hired prior to January 1, 2009, the Company may also contribute a 2% discretionary
matching contribution. Total expense for employer contributions was $9,187, $8,478, and $8,535 in 2011, 2010, and
2009, respectively.
21. STOCKHOLDERS’ EQUITY AND DIVIDEND RESTRICTIONS
Preferred Stock – The Company is authorized to issue 10,000,000 shares of preferred stock having a par
value of $0.01 per share. None of the shares of the authorized preferred stock have been issued. The board of
directors is authorized to issue these shares of preferred stock without stockholder approval in different classes
and series and, with respect to each class or series, to determine the dividend rate, the redemption provisions,
conversion provisions, liquidation preference, and other rights, privileges, and restrictions. The issuance of any
preferred stock could have the effect of diluting the voting power of the holders of common stock, restricting
dividends on the common stock, impairing the liquidation rights of the common stock, or delaying or preventing a
change in control without further action by the stockholders.