Ulta Beauty, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Share-based awards (Tables)

Share-based awards (Tables)

12 Months Ended

Jan. 31, 2015

Black-Scholes Valuation Model Weighted-Average Assumptions

The Company estimated the grant date fair value of stock options using a Black-Scholes valuation model using the following weighted-average assumptions:


	Fiscal 2014			Fiscal 2013			Fiscal 2012
Volatility rate		40.7	%		49.2	%		53.5	%
Average risk-free interest rate		1.4	%		0.9	%		1.2	%
Average expected life (in years)		3.8			4.4			6.3
Dividend yield		None			None			None

Summary of Options Outstanding and Options Exercisable Under Stock Option Plan

The following table presents information related to options outstanding and options exercisable at January 31, 2015, under the Company’s stock option plans based on ranges of exercise prices (shares in thousands):


	Options outstanding						Options exercisable
Options outstanding	Number of options		Weighted- average remaining contractual life (years)		Weighted- average exercise price		Number of options		Weighted- average remaining contractual life (years)		Weighted- average exercise price
$1.11 - 15.81		132		4	$	12.20		132		4	$	12.20
22.86 - 37.85		128		6		28.17		128		6		28.17
47.19 - 69.96		184		7		66.74		97		7		67.96
74.91 - 89.79		181		8		80.97		44		8		82.29
91.12 - 99.66		373		9		97.54		30		8		96.52
101.35 - 127.15		75		9		118.08		9		9		116.98

End of year		1,073		7	$	72.12		440		6	$	43.98

Employee Stock Option [Member]

Stock Option Activity

A summary of the status of the Company’s stock option activity is presented in the following table (shares in thousands):


	Fiscal 2014					Fiscal 2013					Fiscal 2012
	Shares			Weighted- average exercise price		Shares			Weighted- average exercise price		Shares			Weighted- average exercise price
Common stock options outstanding
Beginning of year		1,090		$	56.94		1,807		$	41.60		3,559		$	26.46
Granted		371			99.40		302			84.50		241			89.99
Exercised		(238	)		44.79		(705	)		31.07		(1,795	)		17.57
Forfeited		(150	)		72.57		(314	)		53.15		(198	)		46.28

End of year		1,073		$	72.12		1,090		$	56.94		1,807		$	41.60

Exercisable at end of year		440		$	43.98		363		$	34.37		563		$	24.85

Vested and Expected to vest		1,028		$	71.28		1,046		$	56.47		1,807		$	41.60

Restricted Stock [Member]

Restricted Stock Option Activity

A summary of the status of the Company’s restricted stock activity is presented in the following table (shares in thousands):


	Fiscal 2014					Fiscal 2013					Fiscal 2012
	Shares			Weighted- average grant date fair value		Shares			Weighted- average grant date fair value		Shares			Weighted- average grant date fair value
Restricted stock outstanding
Beginning of year		162		$	87.54		62		$	81.81		22		$	55.72
Granted		71			97.73		141			86.07		65			90.18
Vested		(52	)		91.91		(25	)		81.41		(5	)		66.88
Forfeited		(30	)		82.91		(16	)		75.39		(20	)		75.30

End of year		151		$	91.74		162		$	87.54		62		$	81.81

Expected to vest		140		$	91.74		152		$	87.54		62		$	81.81