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71
The weighted-average grant-date fair value per share of options granted during fiscal 2010, 2009 and 2008
was $2.77, $3.25 and $8.28, respectively, and were based on the weighted-average assumptions noted in
the table below.
Year Ended
March 31,
2010
Year Ended
March 31,
2009
Year Ended
March 31,
2008
Dividend yield ....................................... —% —% —%
Anticipated volatility............................. 65.6% 46.8% 36%
Weighted-average risk-free interest
rate..................................................... 1.5% 1.8% 3.9%
Expected lives...................................... 3.0 years 3.0 years 3.2 years
The fair value per share of ESPP options for the six-month offering periods that began on March 1, 2010,
September 1, 2009 and September 2, 2008, was $1.62, $1.98, and $3.98, respectively, and were based on
the weighted- average assumptions noted in the table below.
March 1,
2010
September 1,
2009
September 2,
2008
Dividend yield ........................................ —% —% —%
Anticipated volatility.............................. 48.1% 84.5% 36.8%
Weighted-average risk-free interest
rate...................................................... 0.2% 0.2% 1.9%
Expected lives....................................... 0.5 years 0.5 years 0.5 year
A summary of our stock option activity for fiscal 2010, 2009 and 2008 is as follows (in thousands, except per
share amounts):
Options
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contrac tual
Term
(in years)
Aggregate
Intrinsic
Value
Outstanding at March 31, 2007 ............ 7,564 $19.15
Granted ................................................. 2,982 $27.44
Exercised .............................................. (1,422) $14.89
Forfeited/expired/cancelled ................ (1,007) $25.86
Outstanding at March 31, 2008 ............ 8,117 $22.10
Granted ................................................. 3,925 $10.40
Exercised .............................................. (438) $13.71
Forfeited/expired/cancelled ................ (2,779) $20.42
Outstanding at March 31, 2009 ............ 8,825 $17.84
Granted ................................................. 4,203 $6.26
Exercised .............................................. (121) $4.62
Forfeited/expired/cancelled ................ (3,701) $15.89
Outstanding at March 31, 2010 ............ 9,206 $13.51 3.1 $6,914
Vested and expected to vest............. 8,392 $13.94 3.1 $6,248
Exercisable at March 31, 2010.............. 3,678 $20.73 1.8 $1,105
The aggregate intrinsic value is calculated as the difference between the exercise price of a stock option and
the quoted price of our common stock at March 31, 2010. It excludes stock options that have exercise prices
in excess of the quoted price of our common stock at March 31, 2010. The aggregate intrinsic value of stock
options exercised during fiscal 2010, 2009 and 2008 was $0.2 million, $2.6 million and $19.5 million,
respectively.