Adobe 2012 Annual Report Download - page 107

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107
Summary of Stock Options
Option activity under our stock option program for fiscal years ended 2012, 2011 and 2010 was as follows (shares in
thousands):
Outstanding Options
Number of
Shares
Weighted
Average
Exercise
Price
November 27, 2009 ................................................................................................................ 41,251 $ 29.45
Granted................................................................................................................................. 3,198 $ 34.03
Exercised.............................................................................................................................. (5,196) $ 20.48
Cancelled.............................................................................................................................. (2,908) $ 33.94
Increase due to acquisition................................................................................................... 730 $ 8.24
December 3, 2010................................................................................................................... 37,075 $ 30.33
Granted................................................................................................................................. 4,507 $ 33.60
Exercised.............................................................................................................................. (4,987) $ 21.02
Cancelled.............................................................................................................................. (2,268) $ 33.85
Increase due to acquisition................................................................................................... 475 $ 2.25
December 2, 2011................................................................................................................... 34,802 $ 31.47
Granted................................................................................................................................. 57 $ 32.19
Exercised.............................................................................................................................. (6,754) $ 23.61
Cancelled.............................................................................................................................. (4,692) $ 33.07
Increase due to acquisition................................................................................................... 1,104 $ 3.23
November 30, 2012 ................................................................................................................ 24,517 $ 32.09
The weighted average fair values of options granted during fiscal 2012, 2011 and 2010 were $8.50, $8.82 and $9.17,
respectively.
The total intrinsic value of options exercised during fiscal 2012, 2011 and 2010 was $62.6 million, $59.4 million and $72.7
million, respectively. The intrinsic value is calculated as the difference between the market value on the date of exercise and the
exercise price of the shares.
Table of Contents
ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)