Cabela's 2013 Annual Report Download - page 111

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101
CABELA’S INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Share and Per Share Amounts)
Restricted Stock Awards. In 2008, there were 111,324 shares of restricted stock issued to two executives
under the 2004 Plan. The stock price on the date of grant was $10.48 per share resulting in a fair value of $1,167
of deferred compensation which was amortized to compensation expense over a five-year period ending June
2013. Compensation expense related to these restricted stock awards, which was included in total stock-based
compensation expense, was $117 in 2013, and $233 in each year 2012 and 2011.
The following table summarizes award activity during 2013 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 1,940,486 3,719,474 $ 14.55 1,524,943 $ 21.67
Granted (721,585) 721,585 22.55 721,585 39.70
Vested - (468,941) (714,601) 18.05
Exercised - (450,640) 18.15
Forfeited (2) 60,114 (60,114) 6.47 (59,854) 32.61
Outstanding, end of year (3) 1,279,015 3,461,364 17.87 1,472,073 31.93
(1) Excludes restricted stock awards issued in July 2008.
(2) Options forfeited under the 2013 Plan are immediately available for grant.
(3) Total awards outstanding under the Company’s stock plans at the end of 2013 were comprised of 2,591,497 of
NSOs, 799,871 of nonvested stock awards, and 69,996 of performance based stock awards.
The following table provides information relating to the Company’s equity share-based payment awards at
December 28, 2013:
Number of
Awards
Weighted
Average
Exercise
Price
Weighted
Average
Fair
Value
Aggregate
Intrinsic
Value
Weighted
Average
Remaining
Contractual
Life (in Years)
Vested and exercisable 1,989,291 $ 17.74 $ 7.59 $ 95,294 2.69
Non-vested 1,472,073 18.05 31.93 70,111 6.55
Total outstanding 3,461,364 17.87 17.94 $ 165,405 4.33
Expected to vest after December 28, 2013 3,301,750 17.99 $ 157,378 4.23
The aggregate intrinsic value of awards exercised was $54,755, $53,198, and $26,775 during 2013, 2012, and
2011, respectively. The total fair value of shares vested was $12,899, $10,721, and $11,759 in 2013, 2012, and 2011,
respectively. Based on the Company’s closing stock price of $65.64 as of December 28, 2013, the total number of
in-the-money awards exercisable as of December 28, 2013, was 1,989,291.