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.
