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SWY » Topics » OPTION EXERCISES AND STOCK VESTED

This excerpt taken from the SWY DEF 14A filed Mar 27, 2009.

OPTION EXERCISES AND STOCK VESTED

 

The following table shows the number of shares of restricted stock held by each named executive officer that vested during fiscal year 2008. None of the named executive officers exercised options during fiscal year 2008. Columns specified in the SEC rules are omitted where there is no amount to report.

 

Name

    STOCK AWARDS  
   Number of Shares
Acquired on
Vesting		    Value Realized
on Vesting		  

Steven A. Burd

    100,000    $ 375,900 (1)

Robert L. Edwards

    25,000    $ 717,250 (2)
   33,400    $ 125,551 (1)

Larree M. Renda

    33,400    $ 125,551 (1)

Bruce L. Everette

    33,400    $ 125,551 (1)

Robert A. Gordon

    —        —    

 

(1) This amount represents the difference between $3.76, the estimated value of each share of Blackhawk restricted stock based on an independent valuation, and the award price, multiplied by the number of shares of Blackhawk Common Stock covered by the vested award. Blackhawk restricted stock vested 20% on January 31, 2008.
(2) This amount represents the difference between $28.70, the closing market price of our Common Stock as reported in The Wall Street Journal on the release date of the restricted stock award, and the award price, multiplied by the number of shares of Common Stock covered by the vested award.

 

38

Table of Contents
This excerpt taken from the SWY DEF 14A filed Apr 2, 2008.

OPTION EXERCISES AND STOCK VESTED

 

The following table shows the number of shares of Common Stock acquired by each named executive officer during fiscal year 2007 upon the exercise of options and the number of shares of restricted stock held by each named executive officer that vested during fiscal year 2007. Value realized represents long-term gain over many years, and we do not consider it to be part of fiscal year 2007 compensation for the named executive officers who exercised options in 2007.

 

     OPTION AWARDS     STOCK AWARDS  

Name

    Number of Shares
Acquired on
Exercise		     Value Realized
on Exercise		     Number of Shares
Acquired on
Vesting		    Value Realized
on Vesting		  

Steven A. Burd

    2,180,000 (1)   $ 63,497,629 (2)   100,000    $ 240,900 (5)

Robert L. Edwards

        25,000    $ 937,750 (6)
   —         —       33,400    $ 80,461 (5)

Larree M. Renda

    100,000     $ 902,961 (3)   24,099    $ 829,729 (7)
       33,400    $ 80,461 (5)

Bruce L. Everette

    100,000     $ 867,663 (4)   24,099    $ 829,729 (7)
       33,400    $ 80,461 (5)

Robert A. Gordon

    —         —       12,050    $ 414,882 (7)

Brian C. Cornell

    795,392     $ 10,286,017 (8)   50,000    $ 1,792,500 (9)
       33,400    $ 80,461 (5)

 

(1) Mr. Burd continues to hold 700,000 shares acquired as a result of his fiscal year 2007 stock option exercises.
(2) This amount represents the difference between the closing market price of our Common Stock as reported in The Wall Street Journal on the option exercise date, and the option exercise price, multiplied by the number of shares of Common Stock covered by the exercised options. The closing market prices of our Common Stock on the option exercise dates ranged from $31.16 to $34.36 per share. This option was granted to Mr. Burd on October 26, 1992 when he joined Safeway, at an exercise price of $2.8125 per share. The option had a 15-year term and would have expired on October 26, 2007. Mr. Burd’s general practice has been to hold stock options until near their expiration dates.
(3) This amount represents the difference between the closing market price of our Common Stock as reported in The Wall Street Journal on the option exercise date, and the option exercise price, multiplied by the number of shares of Common Stock covered by the exercised options. The closing market prices of our Common Stock on the option exercise dates ranged from $35.25 to $35.55 per share. This option would have expired on July 23, 2007.
(4) This amount represents the difference between the closing market price of our Common Stock as reported in The Wall Street Journal on the option exercise date, and the option exercise price, multiplied by the number of shares of Common Stock covered by the exercised options. The closing market prices of our Common Stock on the option exercise dates ranged from $34.39 to $35.75 per share. This option would have expired on July 23, 2007.
(5) This amount represents the difference between $2.41, the estimated value of Blackhawk restricted stock on January 31, 2007, based on an independent valuation, and the award price, multiplied by the number of shares of Blackhawk Common Stock covered by the vested award. Blackhawk restricted stock vested 20% on January 31, 2007. In connection with the termination of Mr. Cornell’s employment with us, Blackhawk repurchased all of Mr. Cornell’s unvested and vested shares of Blackhawk Common Stock.
(6) This amount represents the difference between $37.52, the closing market price of our Common Stock as reported in The Wall Street Journal on the release date of the restricted stock award, and the award price, multiplied by the number of shares of Common Stock covered by the vested award.
(7) This amount represents the difference between $34.44, the closing market price of our Common Stock as reported in The Wall Street Journal on the release date of the restricted stock award, and the award price, multiplied by the number of shares of Common Stock covered by the vested award.
(8) This amount represents the difference between the closing market price of our Common Stock as reported in The Wall Street Journal on the option exercise date, and the option exercise price, multiplied by the number of shares of Common Stock covered by the exercised options. The closing market prices of our Common Stock on the option exercise dates ranged from $30.80 to $36.51 per share.
(9) This amount represents the difference between $35.86, the closing market price of our Common Stock as reported in The Wall Street Journal on the release date of the restricted stock award, and the award price, multiplied by the number of shares of Common Stock covered by the vested award.

 

42

Table of Contents
This excerpt taken from the SWY DEF 14A filed Apr 4, 2007.

OPTION EXERCISES AND STOCK VESTED

 

The following table shows the number of shares of Common Stock acquired by each named executive officer during 2006 upon the exercise of options and the number of shares of restricted stock held by each named executive officer that vested during 2006.

 

     OPTION AWARDS     STOCK AWARDS  

Name

   

Number of
Shares
Acquired on
Exercise

(#)

   

Value Realized
on Exercise

($)

    

Number of
Shares
Acquired on
Vesting

(#)

    

Value Realized
on Vesting

($)

  

Steven A. Burd

    14,430    $ 187,215 (1)   —       $ —    
        100,000 (4)   $ 108,900 (4)

Robert L. Edwards

    —      $ —       25,000     $ 634,750 (5)
        33,400 (4)   $ 36,373 (4)

Brian C. Cornell

    —      $ —       50,000     $ 1,224,500 (6)
        33,400 (4)   $ 36,373 (4)

Larree M. Renda

    26,000    $ 684,874 (2)   24,099     $ 799,123 (7)
        33,400 (4)   $ 36,373 (4)

Bruce L. Everette

    80,000    $ 1,617,696 (3)   24,099     $ 799,123 (7)
        33,400 (4)   $ 36,373 (4)
(1) This amount represents the difference between $22.41, the closing market price of the Company’s Common Stock as reported in The Wall Street Journal on the option exercise date, and the option exercise price, multiplied by the number of shares of Common Stock covered by the exercised options.
(2) This amount represents the difference between $31.14 and $28.20, the closing market prices of the Company’s Common Stock as reported in The Wall Street Journal on the option exercise dates, and the option exercise prices, multiplied by the number of shares of Common Stock covered by the exercised options.
(3) This amount represents the difference between $24.94, the closing market price of the Company’s Common Stock as reported in The Wall Street Journal on the option exercise date, and the option exercise price, multiplied by the number of shares of Common Stock covered by the exercised options.
(4) This amount represents the difference between $1.09, the estimated value of Blackhawk restricted stock on January 31, 2006, based on an independent valuation, and the award price, multiplied by the number of shares of Blackhawk Common Stock covered by the vested awards. Blackhawk restricted stock was 20% vested on the date of grant, February 24, 2006.
(5) This amount represents the difference between $25.40, the closing market price of the Company’s Common Stock as reported in The Wall Street Journal on the release date of the restricted stock award, and the award price, multiplied by the number of shares of Common Stock covered by the vested awards.
(6) This amount represents the difference between $24.50, the closing market price of the Company’s Common Stock as reported in The Wall Street Journal on the release date of the restricted stock award, and the award price, multiplied by the number of shares of Common Stock covered by the vested awards.
(7) This amount represents the difference between $33.17, the closing market price of the Company’s Common Stock as reported in The Wall Street Journal on the release date of the restricted stock award, and the award price, multiplied by the number of shares of Common Stock covered by the vested awards.

 

39

EXCERPTS ON THIS PAGE:

DEF 14A
Mar 27, 2009
DEF 14A
Apr 2, 2008
DEF 14A
Apr 4, 2007

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