SanDisk 2013 Annual Report Download - page 203

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Employee Stock Purchase Plan Shares. The fair value of the Company’s ESPP shares for plans entered
into during the fiscal year was estimated using the following weighted average assumptions:
Fiscal years ended
December 29, December 30, January 1,
2013 2012 2012
Dividend yield ...................................... 0% – 1.63% —% —%
Expected volatility .................................... 0.34 0.41 0.43
Risk-free interest rate ................................. 0.11% 0.15% 0.13%
Expected term ...................................... 1⁄2 year 1⁄2 year 1⁄2 year
Weighted average fair value at purchase date ................. $13.08 $11.87 $12.17
Share-based Compensation Plan Activities
Stock Options and SARs. A summary of stock option and stock appreciation rights (‘‘SARs’’) activity
under all of the Company’s share-based compensation plans as of December 29, 2013 and changes during
the three fiscal years ended December 29, 2013 is presented below (in thousands, except for weighted
average exercise price and remaining contractual term):
Weighted
Average
Weighted Remaining
Average Contractual Aggregate
Shares Exercise Price Term (Years) Intrinsic Value
Options and SARs outstanding at January 2, 2011 . 20,393 $ 32.18 3.8 $ 393,996
Granted .......................... 3,157 44.96
Exercised ......................... (5,310) 24.81 126,929
Forfeited ......................... (536) 29.09
Expired .......................... (354) 51.79
Options assumed through acquisition ...... 209 4.35
Options and SARs outstanding at January 1, 2012 . 17,559 36.55 3.4 257,251
Granted .......................... 2,336 46.49
Exercised ......................... (3,403) 21.32 81,622
Forfeited ......................... (469) 38.12
Expired .......................... (597) 53.10
Options and SARs outstanding at December 30,
2012 .............................. 15,426 40.73 3.2 109,411
Granted .......................... 1,142 52.69
Exercised ......................... (7,362) 35.53 163,992
Forfeited ......................... (433) 43.72
Expired .......................... (2,363) 60.70
Options assumed through acquisition ...... 183 19.37
Options and SARs outstanding at December 29,
2013 .............................. 6,593 40.66 4.2 195,018
Options and SARs vested and expected to vest
after December 29, 2013, net of forfeitures .... 6,291 40.31 4.1 188,288
Options and SARs exercisable at December 29,
2013 .............................. 3,208 33.99 3.1 116,294
F-37
Annual Report