AMD 2003 Annual Report Download - page 91

Table of Contents
expired on July 25, 2003. Options to purchase approximately 19 million shares of the Company’s common stock were tendered for exchange and cancelled on
July 28, 2003 (see Note 17).
The following table summarizes stock option activity and related information for the fiscal years presented:
2003 2002 2001
Number
of shares
Weighted-
average
exercise
price
Number
of
shares
Weighted-
average
exercise
price
Number
of
shares
Weighted-
average
exercise
price
(Shares in thousands)
Options:
Outstanding at beginning of year 60,408 $ 18.58 52,943 $ 20.44 43,852 $ 20.70
Granted 5,575 9.46 11,829 5.62 14,088 16.91
Canceled (22,642) 27.69 (3,413) 20.34 (1,444) 25.31
Exercised (2,372) 7.86 (951) 6.23 (3,553) 7.56
Outstanding at end of year 40,969 $ 12.92 60,408 $ 18.58 52,943 $ 20.44
Exercisable at end of year 28,624 $ 13.66 33,807 $ 19.55 22,465 $ 17.63
Available for grant at beginning of year 13,019 21,146 11,803
Available for grant at end of year 29,613 13,019 21,146
The following table summarizes information about options outstanding as of December 28, 2003:
Options outstanding Options exercisable
Range of exercise prices
Number of
shares
Weighted-
average
remaining
contractual
life (years)
Weighted-
average
exercise
price
Number of
shares
Weighted-
average
exercise
price
(Shares in thousands)
$ 0.01 – $ 8.19 11,372 6.27 $ 6.62 6,697 $ 6.78
$ 8.22 – $ 9.72 10,368 6.03 8.96 8,732 8.97
$ 9.75 – $16.05 10,533 7.36 13.06 5,914 12.73
$16.19 – $45.50 8,696 6.27 25.71 7,281 26.38
$ 0.01 – $45.50 40,969 6.49 $ 12.92 28,624 $ 13.66
Stock Purchase Plan. The Company has an employee stock purchase plan (ESPP) that allows eligible and participating employees to purchase, through
payroll deductions, shares of the Company’s common stock at 85 percent of the lower of the fair market value on the first or the last business day of the
three-month offering period. As of December 28, 2003, 6,754,481 common shares remained available for issuance under the plan. A summary of stock purchased
under the plan for the specified fiscal years is shown below:
2003 2002 2001
(Thousands)
Aggregate purchase price $ 17,060 $ 23,488 $ 16,816
Shares purchased 3,414 3,177 1,220
The weighted-average fair value of shares purchased under the Company’s ESPP during 2003, 2002 and 2001 were $4.86, $2.26 and $3.82 per share,
respectively.
Restricted Stock Awards. In 1998, the Company adopted the 1998 Stock Incentive Plan under which the Company was authorized to issue two million
shares of common stock to employees who are not covered by Section 16 of the Securities Exchange Act of 1934, as amended, subject to terms and conditions
determined at the discretion of the Company’s Board of Directors. To date, the Company has canceled agreements covering
85
Source: ADVANCED MICRO DEVIC, 10-K, March 09, 2004