Oracle 2010 Annual Report Download - page 124

Table of Contents
ORACLE CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
May 31, 2011
The following table summarizes stock option activity for our last three fiscal years ended May 31, 2011:
Options Outstanding
(in millions, except exercise price)
Shares Under
Option
Weighted
Average
Exercise Price
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
Granted 110 $ 22.58
Assumed 1 $ 16.38
Exercised (78) $ 16.73
Canceled (31) $ 29.17
Balance, May 31, 2011 354 $ 19.53
Options outstanding that have vested and that are expected to vest as of May 31, 2011 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, 2011
(in millions)
Aggregate
Intrinsic
Value(1)
(in millions)
Vested 166 $ 16.83 4.68 159 $ 2,948
Expected to vest(2) 170 $ 21.83 8.35 169 2,107
Total 336 $ 19.36 6.54 328 $ 5,055
(1) The aggregate intrinsic value was calculated based on the gross difference between our closing stock price on the last trading day of fiscal 2011 of $34.22 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, 2011 was
approximately $788 million and is expected to be recognized over a weighted average period of 2.67 years. Approximately 18 million shares outstanding as of May 31, 2011 are not
expected to vest.
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Source: ORACLE CORP, 10-K, June 28, 2011 Powered by Morningstar® Document Research℠