Autodesk 2000 Annual Report Download - page 43

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42 FY 00 Autodesk, Inc.
In fiscal 1999 and 1998, Autodesk used a combination
of open market purchases and equity collar contracts
to repurchase Autodesk’s common stock. These share
repurchases were part of an on-going and systematic
repurchase plan that was approved by Autodesk’s
Board of Directors.In August 1998, in connection with
the acquisition of Discreet, the Board of Directors
rescinded its authorization and terminated Autodesk’s
repurchase plans that existed at the time.
Dividends
During fiscal 2000, 1999 and 1998, Autodesk paid
annual dividends of $0.24, $0.20 and $0.20 per share,
respectively. Fiscal year 2000 dividends were paid at a
rate of $0.06 each quarter.
Note 8. Stock Compensation and Employee
Benefit Plans
Stock Option Plans
Incentive and nonqualified stock options may be
granted to officers, employees, directors and consult-
ants.Options vest over periods of one to five years and
generally have terms of up to ten years. The exercise
price of the stock options is generally at least equal to
the fair market value of the stock on the grant date.
A summary of stock option activity is as follows:
(shares in thousands)
Weighted
average
Number price
of shares per share
Options outstanding at January 31, 1997 13,541 $ 27.44
Granted 3,709 36.47
Assumed via acquisitions 306 23.72
Exercised (2,387) 22.82
Canceled (952) 33.13
Options outstanding at January 31, 1998 14,217 $ 30.10
Granted 3,320 36.49
Exercised (2,595) 24.74
Canceled (1,020) 34.96
Options outstanding at January 31, 1999 13,922 $ 32.27
Granted 5,984 26.70
Exercised (1,087) 21.06
Canceled (2,902) 34.65
Options outstanding at January 31, 2000 15,917 $ 30.47
Options exercisable at January 31, 2000 7,662 $ 31.20
Options available for grant at January 31, 2000 2,685 —
The following table summarizes information about options outstanding and exercisable at January 31, 2000.
(shares in thousands)
Options exercisable Options outstanding
Weighted
Weighted average Weighted
average contractual average
Number exercise Number life exercise
of shares price of shares (in years) price
Range of per share exercise prices:
$ 0.01–23.87 2,305 $ 19.27 3,021 4.5 $ 19.60
$24.13–33.34 2,213 28.76 7,967 8.2 28.05
$33.87–47.73 2,239 37.96 3,929 7.6 38.34
$47.93–49.25 905 50.80 1,000 5.9 51.67
7,662 $ 31.20 15,917 7.2 $ 30.47