KSS » Topics » Option Grants In Last Fiscal Year

This excerpt taken from the KSS DEF 14A filed Mar 20, 2006.

Option Grants In Last Fiscal Year

 

The Company is currently authorized to issue equity awards under its 2003 Long-Term Compensation Plan (the “2003 Plan”) and a 1997 Stock Option Plan for Outside Directors (the “1997 Plan”). Awards under the 2003 Plan may be in the form of stock options; stock appreciation rights; Common Stock, including restricted stock; Common Stock units; performance units; and performance shares. Awards under the 1997 Plan may be in the form of stock options only. All awards to outside directors during fiscal 2005 were granted under the 1997 Plan.

 

The table below provides information regarding option grants during fiscal 2005 to the persons named in the Summary Compensation Table.

 

Name


   Number of
Shares
Underlying
Options
Granted(1)


   % of Total
Options
Granted to
Employees
in Fiscal Year


   

Exercise
Price

($/Share)


  

Expiration

Date


   Grant Date
Value ($)(2)


R. Lawrence Montgomery

   0    0 %     —      —        —  

Kevin Mansell

   0    0 %     —      —        —  

Arlene Meier

   0    0 %     —      —        —  

Peggy Eskenasi

   20,000    0.7 %   $ 46.20    02/23/20    $ 386,408

Wesley S. McDonald

   20,000    0.7 %   $ 46.20    02/23/20    $ 386,408

(1) All options were granted with an exercise price equal to the fair market value of the Common Stock on the date of grant. The options vest in four equal annual installments commencing one year from date of grant, with full vesting on the fourth anniversary of the date of grant.
(2) Calculated using the Black-Scholes option pricing model as of the date of grant, applying the following assumptions: risk-free interest rate of 3.75%; expected volatility of the Common Stock of 34.2%; expected dividend yield of 0%; and a 6.5 year expected life of the option. Actual gains, if any, on stock option exercises are dependent on future performance of the Common Stock and overall stock market conditions. In addition, actual gains are dependent upon whether, and the extent to which, the options actually vest.

 

This excerpt taken from the KSS DEF 14A filed Mar 22, 2005.

Option Grants In Last Fiscal Year

 

The Company is currently authorized to issue equity awards under its 2003 Long-Term Compensation Plan (the “2003 Plan”) and a 1997 Stock Option Plan for Outside Directors (the “1997 Plan”). Awards under the 2003 Plan may be in the form of stock options; stock appreciation rights; Common Stock, including restricted stock; Common Stock units; performance units; and performance shares. Awards under the 1997 Plan may be in the form of stock options only. All awards to outside directors during fiscal 2004 were granted under the 1997 Plan.

 

The table below provides information regarding option grants during fiscal 2004 to the persons named in the Summary Compensation Table.

 

Name


     Number of
Shares
Underlying
Options
Granted(1)


     % of Total
Options
Granted to
Employees
in Fiscal Year


   

Exercise
Price

($/Share)


    

Expiration

Date


     Grant Date
Present
Value ($)(2)


R. Lawrence Montgomery

     0      0 %     —        —          —  

Kevin Mansell

     0      0 %     —        —          —  

Arlene Meier

     0      0 %     —        —          —  

Wesley S. McDonald

     20,000      0.9 %   $ 49.56      02/25/19      $ 383,118

Donald A. Brennan

     20,000      0.9 %   $ 49.56      02/25/19      $ 383,118

(1) All options were granted with an exercise price equal to the fair market value of the Common Stock on the date of grant. The options vest in four equal annual installments commencing one year from date of grant, with full vesting on the fourth anniversary of the date of grant.
(2) Calculated using the Black-Scholes option pricing model as of the date of grant, applying the following assumptions: risk-free interest rate of 3.50%; expected volatility of the Common Stock of 33.9%; expected dividend yield of 0%; and a 6.2 year expected life of the option. Actual gains, if any, on stock option exercises are dependent on future performance of the Common Stock and overall stock market conditions. In addition, actual gains are dependent upon whether, and the extent to which, the options actually vest.

 

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