Creative 2002 Annual Report Download - page 39

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37
Summary of outstanding options under Creative’s employee stock option plans
The following table summarizes option information for Creative’s employee stock option plans (New Plan and 1999
Scheme) as at June 30, 2002.
Options Outstanding Options Exercisable
Weighted
Average
Remaining Weighted Weighted
Range of Number Contractual Average Number Average
Exercise Prices Outstanding Life Exercise Price Exercisable Exercise Price
(’000) (years) ($) (’000) ($)
$1.00 to $2.99 556 8.85 2.85 36 2.85
$3.00 to $4.99 5,401 9.28 4.45 32 4.08
$5.00 to $7.99 994 8.37 6.10 353 5.18
$8.00 to $10.99 4,808 6.83 9.13 3,498 9.16
$11.00 to $14.99 – – – – –
$15.00 to $22.00 120 1.68 19.73 112 19.83
11,879 8.11 6.56 4,031 9.01
Subsidiary Stock Option Plan
During fiscal 2000, a consolidated subsidiary of Creative established a stock option plan, which allows for subsidiary
employees and others to be granted options to purchase shares of stock in the subsidiary. The total number of shares that
may be granted as options under the subsidiary 2000 Stock Option Plan (“2000 Plan”) is 8 million shares provided that
such amounts shall be automatically increased on the first day (July 1) of each of the five fiscal years ending June 30, 2001,
2002, 2003, 2004 and 2005 by the lesser of (i) three hundred thousand shares or (ii) one percent of the issued share capital
of the Company as at the last day of the immediately preceding fiscal year. The exercise price of options granted under
the 2000 Plan may be less than the fair market value of the shares as of the date of grant and the options expire after the
tenth anniversary of the date of grant.
In December 1999, the subsidiary agreed to issue options to certain key executives to acquire 1.2 million shares at an
exercise price of $1.00 per share. The options were granted in May 2000, vest over four years and are exercisable for 10
years.
In May 2000, the subsidiary granted options to its employees to acquire 2.1 million shares at an exercise price of $2.50
per share. These options vest over four years and are exercisable for 10 years. In May 2000, the subsidiary also granted
options to certain employees of Creative to acquire 0.47 million shares at an exercise price of $2.50 per share and 0.06
million shares at $1.00 per share. The options vest over four years effective from April 1, 2000 and are exercisable for 5
years.