Adaptec 2001 Annual Report Download - page 79

Download and view the complete annual report

Please find page 79 of the 2001 Adaptec annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 93

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93

79
Options
Available
For Issuance
Number of
Options
Outstanding
Weighted
Average
Exercise
Price
Per Share
Balance at December 31, 1998 6,983,081 18,118,251 $ 4.30
Additional shares reserved 5,999,487
Granted (11,053,619) 11,053,619 $ 28.83
Exercised - (3,658,690) $ 2.73
Expired (2,702) - -
Cancelled/ Repurchased 403,404 (398,836) $ 11.96
Balance at December 31, 1999 2,329,651 25,114,344 $ 15.20
Additional shares reserved 6,442,687
Granted (3,855,369) 3,855,369 $132.97
Exercised - (4,059,790) $ 5.46
Expired (12,214) - -
Cancelled/ Repurchased 875,882 (873,870) $ 32.59
Balance at December 31, 2000 5,780,637 24,036,053 $ 34.91
Additional shares reserved 8,111,005
Granted (14,838,436) 14,838,436 $18.51
Exercised - (2,995,129) $6.30
Expired (4,504) - -
Cancelled/ Repurchased 3,861,629 (3,774,971) $61.92
Cancelled but unavailable (117,285) - -
Balance at December 31, 2001 2,793,046 32,104,389 $26.82
The following table summarizes information concerning options outstanding and exercisable
for the combined option plans at December 31, 2001:
Options Outstanding Options Exercisable
Range of
Exercise Prices
Number
Outstanding
Weighted
Average
Remaining
Contractual
Life (years)
Weighted
Average
Exercise
Price per
Share
Number
Exercisable
Weighted
Average
Exercise
Price per
Share
$0.02 - $3.95 3,718,569 5.08 $ 2.65 3,496,519 $ 2.73
$3.98 - $15.98 8,719,649 6.20 $10.51 7,335,182 $ 9.92
$16.55 - $18.26 7,465,982 9.92 $18.26 40,059 $18.13
$18.50 - $48.31 7,041,307 8.91 $21.71 755,711 $28.61
$52.38 - $245.00 5,158,882 8.12 $91.18 2,358,927 $85.64
$0.02 - $245.00 32,104,389 7.84 $26.82 13,986,398 $22.02
Stock-based compensation. In accordance with the provisions of Statement of Financial
Accounting Standards No. 123, “ Accounting for Stock-Based Compensation” (SFA S 123), the
Company applies APB Opinion 25 and related interpretations in accounting for its stock-based
awards. The Company’s ESPP is non-compensatory under Accounting Principles Board (APB)
Opinion 25. The Company also does not recognize compensation expense for employee stock