Stock-Based Compensation

A summary of the Company’s stock option activity as of August 4, 2018 and changes during the three- and nine-month periods then ended is presented below:



Activity during the Three Months Ended August 4, 2018	Options Outstanding (in thousands)		Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
Options outstanding at May 5, 2018	8,174			$57.11
Options granted	12			$83.24
Options exercised	(532	)		$43.16
Options forfeited	(25	)		$65.42
Options outstanding at August 4, 2018	7,629			$58.10	6.3		$293,416
Options exercisable at August 4, 2018	4,233			$48.22	4.9		$204,635
Options vested or expected to vest at August 4, 2018 (1)	7,355			$57.48	6.2		$287,422


(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.



Activity during the Nine Months Ended August 4, 2018	Options Outstanding (in thousands)		Weighted- Average Exercise Price Per Share
Options outstanding at October 28, 2017	9,347			$52.47
Options granted	602			$90.98
Options exercised	(2,141	)		$41.56
Options forfeited	(172	)		$63.51
Options expired	(7	)		$30.58
Options outstanding at August 4, 2018	7,629			$58.10

During the three- and nine-month periods ended August 4, 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 $29.3 million and $111.9 million, respectively, and the total amount of proceeds received by the Company from the exercise of these options was $22.8 million and $88.4 million, respectively.

During the three- and nine-month periods ended July 29, 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 $19.9 million and $109.0 million, respectively, and the total amount of proceeds received by the Company from the exercise of these options was $18.0 million and $105.2 million, respectively.

A summary of the Company’s restricted stock unit/award activity as of August 4, 2018 and changes during the three- and nine-month periods then ended is presented below:



Activity during the Three Months Ended August 4, 2018	Restricted Stock Units/Awards Outstanding (in thousands)		Weighted- Average Grant- Date Fair Value Per Share
Restricted stock units/awards outstanding at May 5, 2018	5,990			$77.38
Units/Awards granted	109			$95.93
Restrictions lapsed	(361	)		$80.16
Forfeited	(81	)		$79.70
Restricted stock units/awards outstanding at August 4, 2018	5,657			$77.53



Activity during the Nine Months Ended August 4, 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	1,640			$87.90
Restrictions lapsed	(1,322	)		$67.81
Forfeited	(341	)		$69.40
Restricted stock units/awards outstanding at August 4, 2018	5,657			$77.53

As of August 4, 2018, there was $396.1 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 1.7 years. The total grant-date fair value of shares that vested during the three- and nine-month periods ended August 4, 2018 was approximately $28.2 million and $112.7 million, respectively. The total grant-date fair value of shares that vested during the three- and nine-month periods ended July 29, 2017 was approximately $28.3 million and $95.2 million, respectively.