Nike 2003 Annual Report Download - page 54

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NIKE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following summarizes the stock option transactions under plans discussed above:
Shares
Weighted
Average
Option
Price
(In thousands)
Options outstanding May 31, 2000 ................................ 18,070 $38.02
Exercised .................................................. (2,944) 19.24
Surrendered ................................................ (1,302) 44.80
Granted .................................................... 341 40.71
Options outstanding May 31, 2001 ................................ 14,165 41.28
Exercised .................................................. (1,687) 33.62
Surrendered ................................................ (724) 44.43
Granted .................................................... 4,687 42.68
Options outstanding May 31, 2002 ................................ 16,441 42.31
Exercised .................................................. (1,307) 29.56
Surrendered ................................................ (713) 45.23
Granted .................................................... 5,278 48.83
Options outstanding May 31, 2003 ................................ 19,699 $44.82
Options exercisable at May 31,
2001 ...................................................... 6,626 $39.70
2002 ...................................................... 7,590 42.30
2003 ...................................................... 9,730 44.18
The following table sets forth the exercise prices, the number of options outstanding and exercisable and the
remaining contractual lives of the Company’s stock options at May 31, 2003:
Options Outstanding
Number of
Options
Outstanding
Weighted
Average
Exercise Price
Weighted
Average
Contractual Life
Remaining
Options Exercisable
Exercise Price
Number of
Options
Exercisable
Weighted
Average
Exercise Price
(In thousands) (Years) (In thousands)
$11.25-$27.69 .................. 3,252 $25.64 5.61 2,432 $24.95
28.13- 42.36 .................. 4,335 42.17 7.99 1,153 41.88
42.50- 48.44 .................. 2,913 47.75 4.79 2,754 47.95
48.51- 48.98 .................. 5,029 48.98 9.13 40 48.79
49.01- 74.88 .................. 4,170 55.43 5.74 3,351 55.78
In September 2001, the Company’s shareholders approved the establishment of an Employee Stock
Purchase Plan (the “ESPP”) under which 3,000,000 shares of Class B Stock are reserved for issuance to
employees. The plan qualifies as a noncompensatory employee stock purchase plan under Section 423 of the
Internal Revenue Code. Employees are eligible to participate through payroll deductions in amounts ranging
from 1% to 10% of their compensation not to exceed limitations set out under Section 423. At the end of each
six-month offering period, shares are purchased by the participants at 85% of the lower of the fair market value at
the beginning or the end of the offering period. Under the ESPP, 249,000 shares were issued during the year
ended May 31, 2003 and 78,000 shares were issued during the year ended May 31, 2002.
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