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KMX » Topics » Were equity awards made to the named executive officers in fiscal 2009?

This excerpt taken from the KMX DEF 14A filed Apr 24, 2009.

Were equity awards made to the named executive officers in fiscal 2009?

 

Yes, the committee approved stock option awards for our named executive officers in the amounts noted below. The table also includes the related exercise price and grant date fair values of these awards, as well as similar information regarding stock options awarded in fiscal 2008:

 

     Options Granted in Fiscal 2009    Options Granted in Fiscal 2008
Name   

Number of
Stock
Options

   

Exercise
Price

($/Sh)

   

Grant Date
Fair Value

($)

   

Number of
Stock
Options

  

Exercise
Price

($/Sh)

   

Grant Date
Fair Value

($)

Thomas J. Folliard

    275,000    19.82    2,026,750    220,000    24.99    1,914,000

Keith D. Browning

    124,000    19.82    913,880    104,000    24.99    904,800

Michael K. Dolan

    124,000    19.82    913,880    100,000    24.99    870,000

Joseph S. Kunkel

    85,000    19.82    626,450    74,000    24.99    643,800

Richard M. Smith

    85,000    19.82    626,450    70,000    24.99    609,000
 

 

Limited stock appreciation rights (“SARs”) were granted in tandem with each of the option awards set forth above. The SARs may only be exercised in the event of a change-in-control of the company. Upon the exercise of the SAR and the surrender of the related option, the officer is entitled to receive an amount equal to the difference between the value of our common stock on the date of exercise and the exercise price of the underlying stock option. No free-standing SARs have been granted.

 

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