Safeway 2001 Annual Report Download - page 35

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33
Activity in the Company’s stock option plans for the three-year period ended December 29, 2001 was as follows:
Options Weighted Average
Exercise Price
Outstanding, year-end 1998 39,378,402 $ 12.15
1999 Activity:
Granted 6,455,276 43.17
Converted Randall’s options 1,069,432 15.54
Canceled (1,325,892) 37.81
Exercised (5,070,905) 4.95
Outstanding, year-end 1999 40,506,313 17.44
2000 Activity:
Granted 8,617,500 43.93
Canceled (1,502,400) 33.81
Exercised (10,441,672) 7.40
Outstanding, year-end 2000 37,179,741 25.66
2001 Activity:
Granted 5,463,474 50.06
Canceled (1,073,248) 40.99
Exercised (2,923,086) 12.85
Outstanding, year-end 2001 38,646,881 29.61
Exercisable, year-end 1999 23,775,488 7.84
Exercisable, year-end 2000 17,239,036 11.52
Exercisable, year-end 2001 18,758,616 16.20
Weighted average fair value of options granted during the year:
1999 $ 20.83
2000 21.31
2001 22.99
RESTRICTED STOCK Safeway includes restricted stock awards in
the Company’s basic earnings per share computation when vest-
ed. Safeway includes restricted stock awards in the Company’s
diluted earnings per share computation when granted, provided
that continued employment is the only condition for vesting.
A restricted stock award of 41,344 shares with a fair value of
$48.38 per share was granted to an executive officer in 2000.
No restricted stock awards were granted in 1999 or 2001. Under
the terms of the restricted shares issued, continued employment
is the only condition for vesting. The Company charged
$1.0 million in each of 2001 and 2000 to compensation expense
for this award. The restricted shares were fully vested as of
January 1, 2002 and 14,641 shares have been returned to Safeway
to satisfy the executive officer’s tax withholding obligation.