Stmts. of Financial Position Consol. Stmts. of Cash Flows Consol. Stmts. of Changes in Common Sharehldr's Equity Notes to the Consol. The Corporation applies Accounting Principles Board Opinion No. 25 and related interpretations in accounting for its stock plans. Options are granted at market value on the grant date and are exercisable for a period of 10 years from the grant date.
Options generally become exercisable no earlier than one year after grant.
These awards are subject to forfeiture if employment terminates during the prescribed retention period or, in some cases, if certain prescribed stock price or other financial criteria are not met. Restricted stock awards are issued to non-employee directors and are subject to forfeiture if certain service requirements are not met. A portion of the retention awards issued in 1999 and 1998 are subject to stock price or performance targets. The cost of retention shares is amortized to expense over the vesting period. The performance criteria set forth in the LTPP were not satisfied and all retention stock and units awarded under the LTPP were cancelled.