Share-Based Compensation

6 Months Ended

Jul. 30, 2011

Share-Based Compensation

Share-Based Compensation

Note 2.  Share-Based Compensation

The 2006 Equity Incentive Plan (“2006 Plan”) provides for the grant of share-based awards exercisable for up to 14.2 million shares of Common Stock. As of July 30, 2011, there were 10.7 million stock option awards outstanding. In addition, there were a total of 579,661 shares of restricted stock outstanding under the 2006 Plan, of which 159,435 are vested. 2.8 million shares of Common Stock remain available for grant under the 2006 Plan. The table below sets forth a summary of stock option activity for the six months ended July 30, 2011:

	Six Months Ended
	July 30, 2011
	(in millions)
Outstanding at beginning of period	10.9
Granted	0.1
Exercised	(0.1	)
Cancelled/Forfeited	(0.2	)
Outstanding at end of period	10.7

Generally, awards granted under the 2006 Plan vest ratably over five years and expire eight years from the grant date. The exercise prices of the options ranged from $7.50 per share to $22.50 per share, as determined by the Board of Directors. Share-based compensation expense associated with the stock options and the restricted stock was $2 million for the second quarter of each of fiscal 2011 and fiscal 2010 and $4 million during each of the six months ended July 30, 2011 and July 31, 2010.