Western Digital 2015 Annual Report Download - page 80

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WESTERN DIGITAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following table summarizes information about options outstanding and exercisable under the 2004 Perform-
ance Incentive Plan as of July 3, 2015 (in millions, except exercise price):
Options Outstanding Options Exercisable
Range of
Exercise Prices
Number
of Shares
Weighted Average
Remaining
Contractual Life
(in years)
Weighted Average
Exercise Price
Number
of Shares
Weighted Average
Exercise Price
$ 2.99 – $16.85 ............. 1.1 4.7 $ 11.03 0.7 $ 10.57
$ 17.52 – $29.60 ............. 1.3 2.5 27.51 1.2 27.35
$ 30.06 – $41.75 ............. 0.5 2.6 36.56 0.4 35.57
$ 43.11 – $43.11 ............. 1.4 4.0 43.11 0.7 43.11
$ 48.01 – $68.49 ............. 1.1 5.0 66.27 0.3 65.87
$ 69.29 – $388.77 ............ 1.4 6.0 102.96 0.1 148.95
6.8 4.3 $ 50.00 3.4 34.81
RSU Activity
The following table summarizes RSU activity (in millions, except weighted average grant date fair value):
Number
of Shares
Weighted Average
Grant Date
Fair Value
RSUs outstanding at June 29, 2012 .............. 3.7 $ 33.19
Granted ................................... 1.7 43.14
Vested .................................... (1.4) 37.89
Forfeited or expired .......................... (0.4) 35.46
RSUs outstanding at June 28, 2013 .............. 3.6 $ 35.82
Granted ................................... 1.4 69.08
Assumed .................................. 0.2 62.73
Vested .................................... (1.3) 33.61
Forfeited or expired .......................... (0.2) 47.62
RSUs outstanding at June 27, 2014 .............. 3.7 $ 49.77
Granted ................................... 1.3 100.13
Vested .................................... (1.7) 42.24
Forfeited or expired .......................... (0.3) 67.31
RSUs outstanding at July 3, 2015 ................ 3.0 $ 73.80
Expected to vest after July 3, 2015 ............... 2.9 $ 73.28
The fair value of each RSU is the market price of the Company’s stock on the date of grant. RSUs are generally
payable in an equal number of shares of the Company’s common stock at the time of the vesting of the units. The
aggregate value of RSUs that became fully-vested during 2015, 2014 and 2013 was $170 million, $89 million and
$71 million, respectively, determined as of the vest date. The fair value of the shares underlying the RSU awards at
the date of grant or assumption was $125 million, $95 million and $74 million in 2015, 2014 and 2013, respectively.
These amounts are being recognized to expense over the corresponding vesting periods.
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