XML 44 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
Stock-Based Compensation (Tables)
6 Months Ended
Sep. 01, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share based payment stock options valuation assumptions
The fair value of each award grant is estimated on the date of grant using the Black-Scholes option-pricing model, with the following weighted-average assumptions used for grants through the first six months of fiscal 2012.
 
Six Months Ended
 
August 27, 2011
Dividend yield
3.9%
Expected volatility
56.1%
Risk-free interest rate
0.8%
Expected lives
4.6 Years
Award transactions on stock options
The following table summarizes the award transactions for the six months ended September 1, 2012:
 
 
Options/SARs Outstanding
 
Number of
Shares
 
Weighted
Average
Exercise  Price
 
Weighted
Average
Remaining
Contractual
Life
 
Aggregate
Intrinsic
Value
Outstanding at March 3, 2012
1,815,293

 
$
15.71

 
 
 
 
Awards exercised
(39,623
)
 
12.05

 
 
 
 
Awards canceled
(71,498
)
 
21.43

 
 
 
 
Outstanding at September 1, 2012
1,704,172

 
$
15.56

 
5.1 Years
 
$
4,596,421

Vested or expected to vest at September 1, 2012
1,704,172

 
$
15.56

 
5.1 Years
 
$
4,596,421

Exercisable at September 1, 2012
1,403,831

 
$
17.10

 
4.3 Years
 
$
2,355,877

Nonvested share award transactions
The following table summarizes the nonvested share award transactions, including nonvested share units, for the six months ended September 1, 2012:
 
 
Nonvested Shares and Units
 
Number of
Shares and
Units
 
Weighted
Average
Grant Date
Fair Value
Nonvested at March 3, 2012
981,813

 
$
12.64

Granted
221,385

 
14.71

Vested
(295,429
)
 
12.85

Canceled(1)
(61,703
)
 
13.43

Nonvested at September 1, 2012(2)
846,066

 
$
13.05

(1)
Includes 61,403 nonvested share units canceled under the fiscal 2010-2012 performance period because Apogee performed below target level for that performance period. Nonvested share units of 160,196 (at target) were previously granted in fiscal 2010 for this performance period.
(2)
Includes a total of 292,118 nonvested share units granted and outstanding at target level for fiscal 2011-2013 and 2012-2014.