Autodesk 2008 Annual Report Download - page 139

AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
In September 2006, the FASB also issued Statement of Financial Accounting Standards No. 157, “Fair
Value Measurements” (“SFAS 157”), which defines fair value, establishes a framework for measuring fair value
and expands disclosures about fair value measurements. SFAS 157 does not require any new fair value
measurements but instead is intended to eliminate inconsistencies with respect to this topic found in various other
accounting pronouncements. This Statement is effective as of February 1, 2008 for Autodesk’s 2009 fiscal year,
including interim periods within its 2009 fiscal year, with the exception of a one year deferral for the
implementation of the Statement for other nonfinancial assets and liabilities. Autodesk does not believe the
adoption of SFAS 157 will have a material effect on its consolidated financial position, results of operations or
cash flows.
Reclassifications
Certain reclassifications have been made to prior year amounts to conform to the current presentation.
Note 2. Employee and Director Benefit Plans
Stock Option Plans
As of January 31, 2008, Autodesk maintained two active stock option plans for the purpose of granting
stock options to employees and to non-employee members of Autodesk’s Board of Directors, the 2006 Employee
Stock Plan (“2006 Plan”), which is available only to employees, and the 2000 Directors’ Option Plan, as
amended (“2000 Plan”), which is available only to non-employee directors. Additionally, there are seven expired
or terminated plans with options outstanding, including the 1996 Stock Plan, which was replaced by the 2006
Plan in March 2006.
The 2006 Plan, which was approved by Autodesk’s stockholders on November 10, 2005, reserved
9.65 million shares of Autodesk common stock, plus 0.22 million shares that remained available for issuance
under the 1996 Stock Plan upon its expiration, for issuance under that plan. At January 31, 2008, 2.5 million
shares were available for future issuance under that plan. The 2006 Plan expired on March 21, 2008. The 2000
Plan, which was approved by the stockholders in June 2000, allows for an automatic annual grant of options to
non-employee members of Autodesk’s Board of Directors. At January 31, 2008, 0.31 million shares were
available for future issuance. The 2000 Plan will expire in March of 2010.
Options granted under the above mentioned plans vest over periods ranging from one to four years and
generally expire within six to ten years from the date of grant. Under the 2006 Plan and the 2000 Plan, the option
term is limited to no more than seven years. During fiscal 2008 and 2007, the exercise price of all stock options
granted under these plans is equal to the fair market value of the stock on the grant date.
On November 6, 2007, the Company’s stockholders approved the 2008 Employee Stock Plan (the “2008
Plan”), which began upon expiration of the 2006 Plan on March 21, 2008. The 2008 Plan reserves 16.5 million
shares of Autodesk common stock, plus 0.48 million shares that remained available for issuance under the 2006
Stock Plan upon its expiration, for issuance under that plan. The 2008 Plan permits the grant of stock options,
restricted stock and restricted stock units; however, no more than 2.5 million of the shares reserved for issuance
under the 2008 Plan may be issued pursuant to awards of restricted stock and restricted stock units. The 2008
Plan will expire in March 2011.
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2008 Annua
l Report