Stock-Based Compensation

A summary of the Company’s stock option activity as of February 3, 2018 and changes during the three-month period then ended is presented below:



Activity during the Three Months Ended February 3, 2018	Options Outstanding (in thousands)		Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
Options outstanding at October 28, 2017	9,347			$52.27
Options granted	21			$91.63
Options exercised	(1,005	)		$37.66
Options forfeited	(113	)		$62.38
Options expired	(7	)		$29.91
Options outstanding at February 3, 2018	8,243			$54.04	6.3		$289,183
Options exercisable at February 3, 2018	3,934			$43.51	4.7		$179,426
Options vested or expected to vest at February 3, 2018 (1)	7,968			$53.52	6.2		$283,587


(1)	In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. The number of options expected to vest is calculated by applying an estimated forfeiture rate to the unvested options.

During the three-month period ended February 3, 2018, the total intrinsic value of options exercised (i.e., the difference between the market price at exercise and the price paid by the employee to exercise the options) was $53.9 million, and the total amount of proceeds received by the Company from the exercise of these options was $37.8 million.

During the three-month period ended January 28, 2017, the total intrinsic value of options exercised (i.e., the difference between the market price at exercise and the price paid by the employee to exercise the options) was $35.6 million, and the total amount of proceeds received by the Company from the exercise of these options was $34.4 million.

A summary of the Company’s restricted stock unit/award activity as of February 3, 2018 and changes during the three-month period then ended is presented below:



Activity during the Three Months Ended February 3, 2018	Restricted Stock Units/Awards Outstanding (in thousands)		Weighted- Average Grant- Date Fair Value Per Share
Restricted stock units/awards outstanding at October 28, 2017	5,680			$71.88
Units/Awards granted	281			$87.15
Restrictions lapsed	(241	)		$75.11
Forfeited	(173	)		$70.98
Restricted stock units/awards outstanding at February 3, 2018	5,547			$72.66

As of February 3, 2018, there was $349.2 million of total unrecognized compensation cost related to unvested stock-based awards comprised of stock options and restricted stock units/awards. That cost is expected to be recognized over a weighted-average period of 1.8 years. The total grant-date fair value of shares that vested during the three-month period ended February 3, 2018 was approximately $20.4 million. The total grant-date fair value of shares that vested during the three-month period ended January 28, 2017 was approximately $5.1 million.