Qualcomm 2005 Annual Report Download - page 72
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Please find page 72 of the 2005 Qualcomm annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Notes to Consolidated Financial Statements continued
68 qualcomm 2005
In fi scal 2005, the Company assumed 723,000 and 42,000 of the outstanding stock options under the Iridigm Display Corporation 2000 Stock
Plan and the Spike Technologies, Inc. 1998 Stock Option Plan, respectively, related to those acquisitions (Note 11). Both plans expired on the
dates of the acquisitions, and no additional shares may be granted under those plans. Both incentive stock options and non-qualifi ed stock
options are outstanding under both plans. Generally, options outstanding vest over periods not exceeding fi ve years and are exercisable for up
to 10 years from the grant date. At September 25, 2005, options for approximately 559,000 shares under both plans were exercisable at prices
ranging from $0.09 to $38.48 per share for an aggregate purchase price of $16 million.
A summary of stock option transactions for the plans follows (number of shares in thousands):
Options Options Outstanding
Shares Exercise Price Per Share
Available Number Weighted
for Grant of Shares Range Average
Balance at September 29, 2002 48,868 234,548 $0.07 to $86.19 $14.73
Plan shares expired (4) — — —
Options granted (33,664) 33,664 14.55 to 22.87 17.42
Options cancelled 8,546 (8,546) 0.79 to 73.94 24.15
Options exercised — (46,694) 0.15 to 19.57 3.28
Balance at September 28, 2003 23,746 212,972 $0.07 to $86.19 $17.28
Additional shares reserved 64,000 — — —
Options granted (31,252) 31,252 21.50 to 40.40 27.19
Options cancelled 4,420 (4,420) 2.30 to 70.00 28.15
Options exercised — (36,220) 0.14 to 37.34 7.85
Balance at September 26, 2004 60,914 203,584 $0.07 to $86.19 $20.25
Additional shares reserved(a) 765 — — —
Options assumed(a) (765) 765 0.09 to 38.48 24.32
Plan shares expired(b) (57) — — —
Options granted (34,434) 34,434 33.01 to 44.55 38.51
Options cancelled 5,821 (5,821) 1.60 to 70.00 31.16
Options exercised — (30,168) 0.07 to 43.00 11.52
Balance at September 25, 2005 32,244 202,794 $0.09 to $86.19 $24.35
(a) Represents activity related to options that were assumed as a result of the acquisitions of Iridigm in October 2004 and Spike in November 2004 (Note 11).
(b) Represents shares available for future grant cancelled pursuant to the Iridigm and Spike acquisitions.
Net stock options, after forfeitures and cancellations, granted during fi scal 2005, 2004 and 2003 represented 1.8%, 1.7% and 1.6% of
outstanding shares as of the beginning of each fi scal year, respectively. Total stock options granted during fi scal 2005, 2004 and 2003
represented 2.1%, 1.9% and 2.1% of outstanding shares as of the end of each fi scal year, respectively.
Information about fi xed stock options outstanding at September 25, 2005 follows (number of shares in thousands):
Options Outstanding
Weighted Options Exercisable
Average Weighted Weighted
Remaining Average Average
Number Contractual Exercise Number Exercise
Range of Exercise Prices of Shares Life (in Years) Price of Shares Price
$0.09 to $3.51 28,805 2.16 $ 3.08 28,792 $ 3.08
$3.52 to $16.47 34,168 5.27 11.88 24,165 10.07
$16.63 to $22.44 31,515 7.53 20.11 13,500 19.72
$22.77 to $29.21 31,604 5.99 27.20 23,334 27.14
$29.31 to $33.57 29,899 8.35 33.05 8,412 32.64
$33.69 to $42.16 31,137 7.31 39.19 15,392 38.31
$42.25 to $44.55 11,585 6.95 43.27 6,823 43.07
$45.56 to $86.19 4,081 4.51 58.65 4,073 58.66
202,794 6.14 $24.35 124,491 $21.11
There were approximately 124,650,000 options exercisable with a weighted average exercise price of $17.41 per share at September 26, 2004.
There were approximately 129,990,000 options exercisable with a weighted average exercise price of $13.42 per share at September 28, 2003.