Stock-Based Compensation |
9 Months Ended |
|---|---|
Oct. 01, 2011 | |
| Stock-Based Compensation [Abstract] | |
| Stock-Based Compensation |
Note J — Stock-based Compensation During the first nine months of 2011, VF granted options to purchase 945,712 shares of Common Stock at a weighted average exercise price of $96.06, equal to the market value of VF Common Stock on the option grant date. The options vest in equal annual installments, generally over a three year period. The fair value of these options was estimated using a lattice valuation model, with the following assumptions: expected volatility ranging from 27% to 38%, with a weighted average of 34%; expected term of 5.6 to 7.5 years; expected dividend yield of 3.1%; and a risk-free interest rate ranging from 0.2% at nine months to 3.5% at 10 years. The resulting weighted average fair value of these options at the grant date was $25.12 per option. Also during the first nine months of 2011, VF granted 247,008 performance-based restricted stock units that generally entitle the recipients to receive shares of VF Common Stock at the end of a three year performance period. The actual number of shares that will be earned, if any, will be based on VF's performance over that period. The weighted average fair value of VF's Common Stock at the date the units were granted was $95.74 per share. VF also granted, during the first nine months of 2011, 32,000 shares of restricted VF Common Stock and 44,000 restricted stock units with weighted average fair values at the grant date of $97.22 and $103.88 per share, respectively. These shares and units will vest in 2015, assuming the grantees remain employed through the vesting date. |