Adobe 2001 Annual Report Download - page 85

Download and view the complete annual report

Please find page 85 of the 2001 Adobe 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 105

  • 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
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105

ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(In thousands, except share and per share data)
Note 10. Employee Stock Plans (Continued)
Stock option activity for fiscal 2001, 2000, and 1999 is presented below:
Years Ended
November 30, 2001 December 1, 2000 December 3, 1999
Weighted Weighted Weighted
Average Average Average
Number of Exercise Number of Exercise Number of Exercise
Shares Price Shares Price Shares Price
Outstanding, beginning of year . . 45,017,400 $38.26 38,149,038 $18.56 41,763,280 $ 7.92
Granted ................... 19,177,315 28.38 19,669,375 60.90 18,588,080 29.68
Exercised .................. (4,826,823) 12.55 (8,724,580) 11.17 (17,042,800) 7.50
Canceled .................. (5,083,575) 44.89 (4,076,433) 21.15 (5,159,522) 9.06
Outstanding, end of year ....... 54,284,317 36.66 45,017,400 38.26 38,149,038 18.56
Exercisable, end of year ....... 20,844,567 29.27 11,478,693 18.53 9,799,482 7.92
Weighted average fair value of
options granted during the year $15.20 $29.89 $11.66
Information regarding the stock options outstanding at November 30, 2001 is summarized below:
Options Outstanding Options Exercisable
Weighted Average
Shares Remaining Weighted Average Weighted Average
Range of Exercise Prices Outstanding Contractual Life Exercise Price Shares Exercisable Exercise Price
$2.56 - $3.66 ....... 135,368 0.87 years $ 3.62 135,368 $ 3.62
$4.06 - $5.97 ....... 43,810 1.69 years 5.04 43,810 5.04
$6.22 - $8.44 ....... 1,372,986 3.55 years 7.66 1,370,751 7.66
$8.45 ............. 5,794,010 4.49 years 8.45 5,774,608 8.45
$9.66 - $14.09 ...... 1,193,142 5.24 years 11.62 1,026,050 11.49
$14.86 - $21.34 ...... 774,346 5.64 years 17.85 506,370 17.62
$24.11 - $26.16 ...... 399,326 6.48 years 24.83 146,091 24.75
$26.95 ............ 7,144,750 7.91 years 26.95 0 0
$27.14 - $27.69 ...... 9,341,105 7.24 years 27.68 1,538,033 27.69
$27.94 - $41.78 ...... 11,029,903 6.11 years 35.55 4,664,443 35.48
$44.05 - $65.81 ...... 15,595,038 6.56 years 60.24 5,223,815 59.14
$66.63 - $83.19 ...... 1,460,533 6.95 years 74.86 415,228 75.96
54,284,317 6.42 years $36.66 20,844,567 $29.27
Performance and Restricted Stock Plan
The Performance and Restricted Stock Plan (‘‘the Plan’’) provides for the granting of restricted stock
and/or performance awards to officers and key employees. As of November 30, 2001, we had reserved
8.0 million shares of our common stock for issuance under the Plan.
85