Oracle 2009 Annual Report Download - page 125
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Table of Contents
ORACLE CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
May 31, 2010
In connection with certain of our acquisitions, including Sun, BEA, PeopleSoft, Siebel and Hyperion, we assumed all of the outstanding stock options and other
stock awards of each acquiree’s respective stock plans. These stock options and other stock awards generally retain all of the rights, terms and conditions of the
respective plans under which they were originally granted. As of May 31, 2010, options to purchase 48 million shares of common stock and 4 million shares of
restricted stock were outstanding under these plans.
The following table summarizes stock option activity for our last three fiscal years ended May 31, 2010:
Options Outstanding
(in millions, except exercise price)
Shares Under
Option
Weighted
Average
Exercise Price
Balance, May 31, 2007 434 $ 13.65
Granted 61 $ 20.49
Assumed 36 $ 17.24
Exercised (135) $ 9.12
Canceled (18) $ 20.83
Balance, May 31, 2008 378 $ 16.37
Granted 69 $ 20.53
Assumed 1 $ 6.54
Exercised (76) $ 9.31
Canceled (13) $ 25.14
Balance, May 31, 2009 359 $ 18.32
Granted 72 $ 21.23
Assumed 23 $ 55.77
Exercised (60) $ 14.03
Canceled (42) $ 43.93
Balance, May 31, 2010 352 $ 18.84
Options outstanding that have vested and that are expected to vest as of May 31, 2010 are as follows:
Outstanding
Options
(in millions)
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contract Term
(in years)
In-the-Money
Options as of
May 31, 2010
(in millions)
Aggregate
Intrinsic
Value (1)
(in millions)
Vested 192 $ 17.44 4.24 172 $ 1,372
Expected to vest(2) 145 $ 20.44 8.15 140 340
Total 337 $ 18.73 5.93 312 $ 1,712
(1) The aggregate intrinsic value was calculated based on the gross difference between our closing stock price on the last trading day of fiscal 2010 of $22.57 and the exercise prices for all
in-the-money options outstanding, excluding tax effects.
(2) The unrecognized compensation expense calculated under the fair value method for shares expected to vest (unvested shares net of expected forfeitures) as of May 31, 2010 was
approximately $709 million and is expected to be recognized over a weighted average period of 2.56 years. Approximately 15 million shares outstanding as of May 31, 2010 are not
expected to vest.
121
Source: ORACLE CORP, 10-K, July 01, 2010 Powered by Morningstar® Document Research℠