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Table of Contents
ORACLE CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
May 31, 2014
The following table summarizes stock option activity for our last three fiscal years ended May 31, 2014:
Options outstanding that have vested and that are expected to vest as of May 31, 2014 were as follows:
121
Options Outstanding
(in millions, except exercise price)
Shares Under
Option
Weighted
Average
Exercise Price
Balance, May 31, 2011
354
$
19.53
Granted
112
$
32.05
Assumed
8
$
12.17
Exercised
(39
)
$
16.61
Canceled
(13
)
$
29.31
Balance, May 31, 2012
422
$
22.66
Granted
119
$
29.90
Assumed
9
$
32.52
Exercised
(83
)
$
17.38
Canceled
(20
)
$
28.94
Balance, May 31, 2013
447
$
25.48
Granted
131
$
31.02
Assumed
5
$
9.02
Exercised
(95
)
$
21.51
Canceled
(26
)
$
30.60
Balance, May 31, 2014
462
$
27.37
Outstanding
Options
(in millions)
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contract Term
(in years)
In
-
the
-
Money
Options as of
May 31, 2014
(in millions)
Aggregate
Intrinsic
Value
(in millions)
Vested
192
$
23.44
5.12
190
$
3,608
Expected to vest
241
$
30.07
8.19
241
2,885
Total
433
$
27.13
6.83
431
$
6,493
The aggregate intrinsic value was calculated based on the gross difference between our closing stock price on the last trading day of fiscal 2014 of $42.02 and the exercise prices for all
“
in
-
the
-
money
”
options outstanding, excluding tax effects.
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, 2014 was
approximately $1.2 billion and is expected to be recognized over a weighted average period of 2.51 years. Approximately 29 million shares outstanding as of May 31, 2014 were not
expected to vest.
(1)
(2)
(1)
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