EMC 2006 Annual Report Download - page 97

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Table of Contents
EMC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
Summarized information about stock options outstanding that are expected to vest and stock options exercisable at December 31, 2006 is as follows
(options and intrinsic values in thousands):
Options Outstanding and Expected to Vest
Options Exercisable
Range of
Exercise Price
Number of
Options
Weighted Avg.
Remaining
Contractual Life
Weighted Avg.
Exercise Price
Aggregate
Intrinsic
Value
Number of
Options
Weighted Avg.
Remaining
Contractual Life
Weighted Avg.
Exercise Price
Aggregate
Intrinsic
Value
$0.01-$5.00 11,353 5.20 $ 2.61 $ 120,228 7,441 4.34 $ 2.56 $ 79,172
$5.01-$10.00 62,975 6.15 7.26 374,072 35,521 4.57 6.37 242,608
$10.01-$15.00 157,995 6.85 12.95 91,183 84,320 5.67 12.46 74,325
$15.01-$20.00 10,379 4.23 17.09 — 9,907 4.19 17.16 —
$20.01-$30.00 1,623 2.51 26.23 — 1,623 2.51 26.23 —
$30.01-$50.00 23,894 3.71 35.08 — 23,894 3.71 35.08 —
$50.01-$70.00 5,303 3.22 60.12 — 5,303 3.22 60.12 —
$70.01-$90.00 13,316 3.70 83.32 — 13,316 3.70 83.32 —
286,838 6.03 17.50 $ 585,483 181,325 4.81 20.82 $ 396,105
Expected forfeitures 16,346
Total options outstanding 303,184
The aggregate intrinsic values in the preceding table represent the total pre-tax intrinsic values based on our closing stock price of $13.20 as of
December 31, 2006 which would have been received by the option holders had all in-the-money options been exercised as of that date.
Restricted Stock and Restricted Stock Units
The following tables summarize our restricted stock and restricted stock unit activity in 2006, 2005 and 2004 (shares in thousands):
Number of
Shares
Weighted Average
Grant Date
Fair Value
Restricted stock and restricted stock units at January 1, 2004 2,283 $ 12.88
Granted 4,660 12.66
Vested (40) 7.99
Outstanding, December 31, 2004 6,903 12.76
Granted 20,191 14.06
Vested (1,492) 12.78
Forfeited (311) 13.21
Outstanding, December 31, 2005 25,291 13.79
Granted 8,392 10.39
Vested (4,538) 13.24
Forfeited (1,244) 9.36
Restricted stock and restricted stock units at December 31, 2006 27,901 $ 13.05
The total fair values of restricted stock and restricted stock units that vested in 2006, 2005 and 2004 were $60.1 million, $19.1 million and $0.3 million,
respectively.
Our restricted stock awards are valued based on our stock price on the award date. Our restricted stock awards have various vesting terms from the date
of grant, including pro rata vesting over three years, cliff vesting at the end of three or five years with acceleration for achieving specified performance criteria
and cliff vesting on various dates contingent on achieving specified performance criteria. For awards with performance conditions, management evaluates the
criteria in each grant to determine the probability that the performance condition will be achieved.
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