17. Incentive Stock Program The TCF Financial 1995 Incentive Stock Program (the “Program”) was adopted to enable TCF to attract and retain key personnel. Under the Program, no more than 5% of the shares of TCF common stock outstanding on the date of initial shareholder approval may be awarded. At December 31, 2002, there were 2,791,116 shares reserved for issuance under the Program, including 303,877 shares related to outstanding stock options. At December 31, 2002, there were 1,145,000 shares of perfor- mance-based restricted stock that will vest only if certain earnings per share goals are achieved by 2008. Failure to achieve the goals will result in all or a portion of the shares being forfeited. Other restricted stock grants generally vest over periods from three to eight years. The weighted-average grant date fair value of restricted stock was $48.93, $39.53 and $24.60 per share in 2002, 2001 and 2000, respectively. Compensation expense for restricted stock is recorded over the vesting periods, and totaled $11.6 million, $11.1 million and $9.4 million in 2002, 2001 and 2000, respectively. TCF has also issued stock options under the Program that gen- erally become exercisable over a period of one to 10 years from the date of the grant and expire after 10 years. All outstanding stock options have a fixed exercise price equal to the market price of TCF common stock on the date of grant. The weighted-average grant date fair value of stock options granted in 2000 was $6.59.  The following table reflects TCF’s restricted stock and stock option transactions under the Program since December 31, 1999:  N.A. Not applicable.  The following table summarizes information about stock options outstanding at December 31, 2002:  page 65 Options Outstanding Options Exercisable Weighted- Average Weighted- Remaining Weighted- Average Contractual Average Exercise Price Range Shares Exercise Price Life in Years Shares Exercise Price $6.88 to $20.00 . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,298  $ 9.91  2.4  23,298  $ 9.91  $20.01 to $25.00 . . . . . . . . . . . . . . . . . . . . . . . . . . 147,029 23.59 6.0 91,787 23.61 $25.01 to $30.00 . . . . . . . . . . . . . . . . . . . . . . . . . . 64,250 28.94 6.4 42,050 28.94 $30.01 to $33.28 . . . . . . . . . . . . . . . . . . . . . . . . . . 69,300 31.31 5.2 26,800 32.26 Total options . . . . . . . . . . . . . . . . . . . . . . . . . . . 303,877 25.43 5.6 183,935 24.36 Restricted Stock Stock Options Exercise Price Grant Date Fair Weighted- Shares Value Range Shares Range Average Outstanding at December 31, 1999 . . . . . . . . . . . . . 1,121,135 $ 8.11-34.00 763,100 $ 2.63-33.28 $ 22.27 Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,300,080 22.10-43.70 1,000 21.81 21.81 Exercised . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – – (283,585) 2.63-28.88 20.25 Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (20,940) 20.88-34.00 (13,000) 23.56-32.19 28.32 Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (125,175) 8.11-28.59 – – –  Outstanding at December 31, 2000  . . . . . . . . . . . . 2,275,100 16.56-43.70 467,515 3.46-33.28 23.32 Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 262,340 27.98-48.20 – – – Exercised . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – – (86,832) 3.46-32.19 17.47 Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (18,850) 27.98-48.20 (10,558) 23.56-32.19 24.73  Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (59,179) 16.56-40.75 – – – Outstanding at December 31, 2001 . . . . . . . . . . . . . 2,459,411 20.88-48.20 370,125 5.33-33.28 24.65 Granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61,400 41.42-52.78 – – – Exercised . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – – (51,798) 5.33-33.28 19.72 Forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (23,245) 22.10-52.78 (14,450) 23.56-32.19 25.91 Vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (862,250) 20.88-50.33 – – – Outstanding at December 31, 2002  . . . . . . . . . . . . . 1,635,316  22.10-52.78 303,877 6.88-33.28 25.43 Exercisable at December 31, 2002  . . . . . . . . . . . . . . N.A. N.A. 183,935 6.88-33.28 24.36