What was the exercise price for the total options for Batteries Plus Bulbs at the end of 2024?
Batteries_Plus_Bulbs Franchise · 2025 FDDAnswer from 2025 FDD Document
ion expense included in the Company's consolidated statements of net income was $529 and $421 for the years ended December 31, 2024 and 2023, respectively.
The following table summarizes the option activity during 2024 and 2023, and the call option value and exercise price for service and performance options at December 31, 2024 and 2023.
| Service Options | Weighted Option Fair Value | Performance Options | Weighted Option Fair Value | Total Options | Exercise Price | |
|---|---|---|---|---|---|---|
| Balance at December 31, 2022 | 212,177 | $ 7.08 | 110,643 | $ 0.85 | 322,820 | $ 119.97 |
| Granted | 38,000 | 1,500 | 39,500 | |||
| Exercised | (15,617) | - | (15,617) | |||
| Forfeited | (4,700) | (11,333) |
Source: Item 21 — Financial Statements (FDD pages 79–80)
What This Means (2025 FDD)
According to Batteries Plus Bulbs's 2025 Franchise Disclosure Document, the exercise price for total options at the end of 2024 was $131.29. This figure represents the price that employees would need to pay to exercise their stock options, combining both service and performance-based options.
The stock options are part of the 2016 Equity Incentive Plan, which provides certain management and key employees with incentive-based awards. These options are dependent on service and performance-based conditions. Service-based options vest annually at 20% if the employee remains continuously employed, while performance-based options vest at 20% per year over five years if certain performance targets and cash distribution events occur.
The table in the FDD summarizes the option activity during 2024 and 2023, detailing the call option value and exercise price for both service and performance options. This information is crucial for prospective franchisees as it provides insight into the company's employee compensation structure and potential equity dilution.
Understanding the stock option plan can help franchisees assess the financial health and management incentives within Batteries Plus Bulbs. The exercise price is a key component in evaluating the overall value and impact of these options on the company's equity structure.