Coca Cola 2011 Annual Report Download - page 115

Generally, stock options granted from 1999 through July 2003 expire 15 years from the date of grant and stock options granted in
December 2003 and thereafter expire 10 years from the date of grant. The shares of common stock to be issued, transferred
and/or sold under the stock option plans are made available from authorized and unissued Company common stock or from the
Company’s treasury shares. In 2007, the Company began issuing common stock under these plans from the Company’s treasury
shares. The Company had the following active stock option plans as of December 31, 2011:
• The Coca-Cola Company 1999 Stock Option Plan (the ‘‘1999 Option Plan’’) was approved by shareowners in April 1999.
Under the 1999 Option Plan, a maximum of 120 million shares of our common stock was approved to be issued or
transferred, through the grant of stock options, to certain officers and employees.
• The Coca-Cola Company 2002 Stock Option Plan (the ‘‘2002 Option Plan’’) was approved by shareowners in April 2002.
An amendment to the 2002 Option Plan which permitted the issuance of stock appreciation rights was approved by
shareowners in April 2003. Under the 2002 Option Plan, a maximum of 120 million shares of our common stock was
approved to be issued or transferred, through the grant of stock options or stock appreciation rights, to certain officers and
employees. No stock appreciation rights have been issued under the 2002 Option Plan as of December 31, 2011.
• The Coca-Cola Company 2008 Stock Option Plan (the ‘‘2008 Option Plan’’) was approved by shareowners in April 2008.
Under the 2008 Option Plan, a maximum of 140 million shares of our common stock was approved to be issued or
transferred to certain officers and employees pursuant to stock options granted under the 2008 Option Plan.
• As of December 31, 2011, there were 90 million shares available to be granted under the stock option plans discussed
above. Options to purchase common stock under all of these plans have generally been granted at fair market value at the
date of grant.
Stock option activity for all stock option plans for the year ended December 31, 2011, was as follows:
Weighted-Average Aggregate
Shares Weighted-Average Remaining Intrinsic Value
(In millions) Exercise Price Contractual Life (In millions)
Outstanding on January 1, 2011 171 $ 48.77
Granted 26 64.03
Exercised (32) 47.96
Forfeited/expired (3) 53.77
Outstanding on December 31, 20111162 $ 51.23 5.93 years $ 3,028
Expected to vest at December 31, 2011 160 $ 51.13 5.90 years $ 3,009
Exercisable on December 31, 2011 106 $ 48.65 4.76 years $ 2,266
1Includes 3 million stock option replacement awards in connection with our acquisition of CCE’s North American business in 2010. These options
had a weighted-average exercise price of $36.98, which generally vest over three years and expire 10 years from the original date of grant.
The total intrinsic value of the options exercised was $631 million, $524 million and $146 million in 2011, 2010 and 2009,
respectively. The total shares exercised were 32 million, 37 million and 15 million in 2011, 2010 and 2009, respectively.
Restricted Stock Award Plans
Under The Coca-Cola Company 1989 Restricted Stock Award Plan and The Coca-Cola Company 1983 Restricted Stock Award
Plan (the ‘‘Restricted Stock Award Plans’’), 40 million and 24 million shares of restricted common stock, respectively, were
originally available to be granted to certain officers and key employees of our Company. As of December 31, 2011, 19 million
shares remain available for grant under the Restricted Stock Award Plans. The Company issues restricted stock to employees as a
result of performance share unit awards, time-based awards and performance-based awards.
For awards prior to January 1, 2008, under the 1983 Restricted Stock Award Plan, participants are reimbursed by our Company
for income taxes imposed on the award, but not for taxes generated by the reimbursement payment. The 1983 Restricted Stock
Award Plan has been amended to eliminate this tax reimbursement for awards after January 1, 2008. The shares are subject to
certain transfer restrictions and may be forfeited if a participant leaves our Company for reasons other than retirement, disability
or death, absent a change in control of our Company.
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