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GPS » Topics » Stock Option and Other Stock Award Modification

These excerpts taken from the GPS 10-K filed Mar 27, 2009.

Stock Option and Other Stock Award Modification

In February 2007, the Committee approved the modification of certain stock options and other stock awards held by designated employees such that at the time of an involuntary termination without cause, any outstanding, unvested time-based options or other stock awards scheduled to vest within a defined time frame will be accelerated. No material amounts were recognized in fiscal 2008 or 2007 as a result of the modification. The modification clause expired in February 2009.

Stock Option and Other Stock Award Modification


In February 2007, the Committee approved the modification of certain stock options and other stock awards held by designated employees such that at the time of an involuntary
termination without cause, any outstanding, unvested time-based options or other stock awards scheduled to vest within a defined time frame will be accelerated. No material amounts were recognized in fiscal 2008 or 2007 as a result of the
modification. The modification clause expired in February 2009.

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 27, 2009

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