Autodesk 2001 Annual Report Download - page 44

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41
Autodesk, Inc. FY 01
(shares in thousands)
Weighted
Number of average price
shares per share
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
Granted 4,455 32.00
Exercised (3,696) 26.09
Canceled (3,177) 33.74
Options outstanding at January 31, 2001 13,499 $ 31.43
Options exercisable at January 31, 2001 5,782 $ 32.59
Options available for grant at January 31, 2001 2,922 —
The following table summarizes information about options outstanding and exercisable at January 31, 2001:
Options Exercisable Options Outstanding
Weighted
Number of Weighted Number of average Weighted
shares (in average shares (in contractual average
thousands) exercise price thousands) life (in years) exercise price
Range of per share exercise prices:
$ 0.01 – 24.13 1,210 $ 20.46 3,453 7.7 $ 21.27
$ 24.25 – 30.25 1,316 27.22 3,596 8.1 26.91
$ 30.38 – 38.06 1,922 34.33 3,509 7.5 34.50
$ 38.25 – 73.49 1,334 46.37 2,941 7.5 45.23
5,782 $ 32.59 13,499 7.7 $ 31.43
12.1 million shares were repurchased and retired as of
January 31, 2001 through a combination of open market
purchases and settlement of equity collar contracts. The
number of shares acquired and the timing of the pur-
chases are based on several factors, including general
market conditions and the trading price of Autodesk com-
mon stock.
In fiscal 2000 Autodesk repurchased its common stock
through open market purchases, and in fiscal 1999
Autodesk used a combination of open market purchases
and equity collar contracts to repurchase Autodesk’s com-
mon stock. These fiscal 1999 share repurchases were part
of an on-going and systematic repurchase plan that was
approved by Autodesk’s Board of Directors.
Dividends
During fiscal 2001 and 2000 Autodesk paid annual divi-
dends of $0.24 per share.During fiscal 1999 Autodesk paid
annual dividends of $0.20 per share. Fiscal year 2001 divi-
dends were paid at a rate of $0.06 each quarter.
Note 10. Stock Compensation and
Employee Benefit Plans
Stock Option Plans
Incentive and nonqualified stock options may be granted
to officers, employees, directors and consultants.
Autodesk, however, does not have a practice of awarding
stock options to consultants. 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: