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TableofContents
VMware, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
ThefollowingtablesummarizesstockoptionactivitysinceJanuary1,2013(sharesinthousands):
VMware Stock Options
EMC Stock Options
Number of
Shares
Weighted-
Average
Exercise Price
(per share)
Number of
Shares
Weighted-
Average
Exercise Price
(per share)
Outstanding,December31,2012 10,133
$ 34.36
2,643
$ 15.12
Optionsrelatingtoemployeestransferred(to)fromEMC —
—
(97)
11.87
Granted 1,434
71.53
—
—
Forfeited (416)
36.25
(46)
16.09
Expired (387)
105.81
(29)
12.99
Exercised (5,009)
28.12
(775)
15.39
Outstanding,December31,2013 5,755
44.12
1,696
15.53
Optionsrelatingtoemployeestransferred(to)fromEMC —
—
149
15.87
Granted 2,695
50.91
—
—
Forfeited (220)
47.89
(2)
19.10
Expired —
—
(9)
14.14
Exercised (2,361)
35.58
(563)
14.37
Outstanding,December31,2014 5,869
50.54
1,271
16.08
Optionsrelatingtoemployeestransferred(to)fromEMC —
—
8
20.23
Granted 21
54.23
—
—
Forfeited (322)
70.42
(1)
19.37
Expired —
—
(14)
14.21
Exercised (2,404)
29.44
(201)
13.96
Outstanding,December31,2015 3,164
64.56
1,063
16.54
Theabovetableincludesstockoptionsgrantedinconjunctionwithunvestedstockoptionsassumedinbusinesscombinations.Asaresult,theweighted-
averageexercisepricepersharemayvaryfromtheVMwarestockpriceattimeofgrant.
OptionsoutstandingthatareexercisableandthathavevestedandareexpectedtovestasofDecember31,2015wereasfollows:
VMware Stock Options
EMC Stock Options
Outstanding
Options
(inthousands)
Weighted
Average
ExercisePrice
Weighted
Average
Remaining
Term
(inyears)
Aggregate
IntrinsicValue(1)
(inmillions)
Outstanding
Options
(inthousands)
Weighted
Average
ExercisePrice
Weighted
Average
Remaining
Term
(inyears)
Aggregate
IntrinsicValue(2)
(inmillions)
Exercisable,December31,2015 1,627
$ 59.31
4.49
$ 26
1,050
$ 16.44
3.19
$ 10
Vestedandexpectedtovest,
December31,2015 3,078
63.89
4.88
43
1,061
16.53
3.20
10
(1)Theaggregateintrinsicvaluesrepresentthetotalpre-taxintrinsicvaluesbasedonVMware'sclosingstockpriceof$56.57asofDecember31,2015,whichwouldhavebeenreceivedbythe
optionholdershadallin-the-moneyoptionsbeenexercisedasofthatdate.
(2)Theseaggregateintrinsicvaluesrepresentthetotalpre-taxintrinsicvaluesbasedonEMC’sadjustedclosingstockpriceof$25.68asofDecember31,2015,whichwouldhavebeenreceived
bytheoptionholdershadallin-the-moneyoptionsbeenexercisedasofthatdate.
ThetotalfairvalueofVMwarestockoptionsthatvestedduringtheyearsendedDecember31,2015,2014and2013was$60million,$64millionand$60
million,respectively.
TheoptionsexercisedduringtheyearsendedDecember31,2015,2014and2013hadapre-taxintrinsicvalueof$136million,$147millionand$256
million,respectively.
83