ACV » Topics » OPTION GRANTS IN FISCAL YEAR 2006

This excerpt taken from the ACV 10-K filed Dec 13, 2006.

OPTION GRANTS IN FISCAL YEAR 2006

 

     Individual Grants    

Exercise

price

($/sh)

   Expiration
Date
   Potential Realizable Value at
Assumed Annual Rates of
Stock Price Appreciation for
Option Term (3)

Name

   Number of
Securities
Underlying
Options
Granted (1)
(#)
  

Percent of

Total

Options

Granted to

Employees

in Fiscal

Year (2)

         
              5%($)    10%($)

Carol L. Bernick

   80,000    5.1 %   $ 44.40    9/30/2015    $ 2,233,834    $ 5,660,973

V. James Marino

   50,000    3.2 %   $ 44.40    9/30/2015    $ 1,396,146    $ 3,538,108

John R. Berschied, Jr.  

   15,000    1.0 %   $ 44.40    9/30/2015    $ 418,844    $ 1,061,432

Richard J. Hynes

   22,000    1.4 %   $ 44.40    9/30/2015    $ 614,304    $ 1,556,768

Gary P. Schmidt

   20,000    1.3 %   $ 44.40    9/30/2015    $ 558,458    $ 1,415,243

Howard B. Bernick

   180,000    11.4 %   $ 44.40    9/30/2015    $ 5,026,126    $ 12,737,190

(1) All of these options were granted on October 1, 2005. Options are non-qualified and granted under the 2003 ACSOP. All options have a maximum term of ten years from the date of grant and an exercise price per share equal to the fair market value of a share of common stock on the date of grant. These options become exercisable on a cumulative basis in four equal annual increments, commencing one year after the date of grant. The Alberto-Culver compensation and leadership development committee may accelerate the exercisability of any options subject to such terms and conditions as it deems necessary and appropriate. If a participant retires, all options (a) vested at the time of retirement may be exercised for a period of two years following retirement and (b) unvested at the time of retirement may be exercised as they become vested under the regular vesting schedule for a period of five years from the date of grant, but in each case not after their stated expiration date. Retirement will be reached when a participant’s employment terminates and at the time of such termination the sum of the participant’s age and years of service with the company equals or exceeds 75 years.

 

(2) The percentages were calculated by taking the number of options granted to the New Alberto-Culver named executive officer and dividing that number by the total number of options granted to all employees of Alberto-Culver.

 

(3) The dollar amounts in these columns assume that the market price per share of common stock appreciates in value from the date of grant to the expiration date of the option at the annualized rates indicated. These rates are set by the SEC and are not intended to forecast possible future appreciation, if any, of the price of common stock.

 

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"OPTION GRANTS IN FISCAL YEAR 2006" elsewhere:

Del Monte Foods Company (DLM)
House of Taylor Jewelry (HOTJ)
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