Adobe 2012 Annual Report Download - page 108

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108
Information regarding stock options outstanding at November 30, 2012, December 2, 2011 and December 3, 2010 is
summarized below:
Number of
Shares
(thousands)
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life
(years)
Aggregate
Intrinsic
Value(*)
(millions)
2012
Options outstanding..................................................... 24,517 $ 32.09 2.74 $ 103.3
Options vested and expected to vest............................ 24,158 $ 32.15 2.70 $ 100.9
Options exercisable ..................................................... 20,668 $ 33.06 2.27 $ 73.6
2011
Options outstanding..................................................... 34,802 $ 31.47 3.24 $ 68.0
Options vested and expected to vest............................ 33,856 $ 31.52 3.17 $ 65.6
Options exercisable ..................................................... 26,622 $ 32.31 2.56 $ 42.1
2010
Options outstanding..................................................... 37,075 $ 30.33 3.62 $ 116.3
Options vested and expected to vest............................ 35,961 $ 30.42 3.56 $ 111.0
Options exercisable ..................................................... 27,763 $ 31.17 3.06 $ 72.7
_________________________________________
(*) The intrinsic value is calculated as the difference between the market value as of the end of the fiscal period and the exercise
price of the shares. As reported by the NASDAQ Global Select Market, the market values as of November 30, 2012,
December 2, 2011 and December 3, 2010 were $34.61, $27.11 and $29.14, respectively.
All stock options granted to current executive officers are made after a review by and with the approval of the Executive
Compensation Committee of the Board of Directors.
Summary of Employee Stock Purchase Plan Shares
The weighted average subscription date fair value of shares under the ESPP during fiscal 2012, 2011 and 2010 were $9.09,
$9.01 and $7.43, respectively. Employees purchased 3.2 million shares at an average price of $23.81, 3.7 million shares at an
average price of $23.48, and 3.3 million shares at an average price of $20.19, respectively, for fiscal 2012, 2011 and 2010. The
intrinsic value of shares purchased during fiscal 2012, 2011 and 2010 was $22.8 million, $28.9 million and $33.9 million,
respectively. The intrinsic value is calculated as the difference between the market value on the date of purchase and the purchase
price of the shares.
Summary of Restricted Stock Units
Restricted stock unit activity for fiscal years 2012, 2011 and 2010 was as follows (in thousands):
2012 2011 2010
Beginning outstanding balance.................................................................................. 16,871 13,890 10,433
Awarded..................................................................................................................... 9,431 8,180 7,340
Released..................................................................................................................... (5,854)(3,819)(2,589)
Forfeited..................................................................................................................... (2,147)(1,587)(1,294)
Increase due to acquisition......................................................................................... 114 207 —
Ending outstanding balance....................................................................................... 18,415 16,871 13,890
The weighted average grant date fair values of restricted stock units granted during fiscal 2012, 2011 and 2010 were $31.36,
$33.10 and $33.47, respectively. The total fair value of restricted stock units vested during fiscal 2012, 2011 and 2010 was $180.1
million, $123.3 million and $84.1 million, respectively.
Table of Contents
ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)