Adobe 2007 Annual Report Download - page 93

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93
Summary of Restricted Stock
Restricted stock award activity for fiscal 2007, 2006 and 2005 is as follows:
2007 2006 2005
Non-vested
Shares
Weighted
Average
Grant Date
Fair Value
Non-vested
Shares
Weighted
Average
Grant Date
Fair Value
Non-vested
Shares
Weighted
Average
Grant Date
Fair Value
Balance at beginning of year........
.
501 $ 9.17 428 $ 6.68 414 $ 5.51
Awarded ........................................
.
5 40.03 9 39.47 26 30.86
Released ........................................
.
(92) 29.32 (302) 22.03 (12) 18.39
Forfeited ........................................
.
(393) 4.77 (48) 25.53 — —
Due to acquisition..........................
.
— — 414 22.35 — —
Balance at end of year ...................
.
21 $ 36.41 501 $ 9.17 428 $ 6.68
Restricted stock awards are considered outstanding at the time of grant, as the stock award holders are entitled to
dividends and voting rights.
In fiscal 2007, we granted 1.8 million restricted stock units of which less than 0.1 million units were forfeited. We did
not grant restricted stock units in fiscal 2006 and 2005. Restricted stock units are not considered outstanding at the time of
grant, as the holders of these units are not entitled to dividends and voting rights. At the end of fiscal 2007, the number of
units granted, but unvested was 1.7 million.
Neither restricted stock awards nor restricted stock units are considered outstanding in the computation of basic earnings
per share.
Summary of Performance Shares
During fiscal 2007, we granted performance shares under the 2007 Program as shown in the table below. The fair value
of this stock option grant assumes that the performance conditions will be achieved at 200%. These shares will be issued out
of our 2003 Plan and our Restricted Stock Plan.
Shares
Granted
Maximum
Shares
Eligible to
Receive
December 1, 2006........................... — —
Awarded ..................................... 382 764
Forfeited ..................................... (18 ) (35 )
November 30, 2007 ........................ 364 729
The following table sets forth the summary of performance share activity under our 2006 Program for fiscal 2007 and
fiscal 2006. Upon achievement of performance goals, the recipients may be eligible to receive up to 150% of the shares
originally granted. These shares will be issued out of our 2003 Plan and our Restricted Stock Plan.
2007 2006
Shares
Maximum
Shares
Eligible to
Receive
Shares
Maximum
Shares
Eligible to
Receive
Balance at beginning of year.......... 336 504 — —
Awarded......................................... 12 18 360 540
Forfeited......................................... (73) (110) (24) (36)
Balance at end of year.................... 275 412 336 504