3Ware 2000 Annual Report Download - page 34

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32 2000
AMCC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following is a further breakdown of the options outstanding at March 31, 2000 (shares in thousands):
Weighted-
Average Weighted Weighted-
Remaining Average Average
Range of Number Contractual Exercise Number Exercise
Exercise Prices Outstanding Life Price Exercisable Price
$ 0.09–$ 2.00 2,304 6.86 $ 0.38 1,288 $ 0.24
$ 2.00–$ 6.75 3,024 8.02 $ 5.64 1,125 $ 5.60
$ 6.75–$ 23.00 7,014 9.05 $ 12.96 1,329 $ 12.05
$ 23.00–$ 42.25 1,451 9.55 $ 35.07 31 $ 27.93
$ 42.25–$ 71.97 2,086 9.80 $ 71.00 126 $ 71.83
$ 71.97–$140.53 691 9.87 $ 97.62 — $ —
$140.53–$154.81 3,713 9.94 $140.95 — $ —
$ 0.09–$154.81 20,283 8.95 $ 44.31 3,899 $ 8.39
From April 1, 1997 through September 30, 1997, the Company recorded deferred compensation expense for the differ-
ence between the exercise price and the fair value for financial statement presentation purposes of the Company’s
common stock, as determined by the Board of Directors, for all options granted in the period. This deferred compensa-
tion aggregates to $599,000, which is being amortized ratably over the four-year vesting period of the related options.
Additionally, during the year ended March 31, 1999, the Company recorded deferred compensation related to restricted
stock and stock options granted to founders and employees of Cimaron of $2.5 million. Such amount is being amortized
over the related vesting period, generally five years. Amortization of deferred compensation during fiscal years 1998,
1999 and 2000 was $127,000, $860,000 and $611,000, respectively.
EMPLOYEE STOCK PURCHASE PLANS
The Company’s 1997 Employee Stock Purchase Plan (the “1997 Purchase Plan”) was adopted by the Board of Directors
on October 6, 1997 and was subsequently approved by the stockholders. A total of 1.6 million shares of common stock
are reserved for issuance under the 1997 Purchase Plan. At March 31, 2000, approximately 1.58 million shares had been
issued under the 1997 Purchase Plan and approximately 20,000 shares were available for future issuance.
The Company’s 1998 Employee Stock Purchase Plan (the “1998 Purchase Plan”) was approved by the stockholders on
August 4, 1998. A total of 1.6 million shares are authorized for issuance under the 1998 Purchase Plan. At March 31, 2000,
355,144 shares had been issued under the 1998 Purchase Plan and approximately 1.2 million shares were available for
future issuance.
Under the terms of the plans, purchases are made semiannually on January 31 and July 31 and the purchase price of the
common stock is equal to 85% of the fair market value of the common stock on the first or last day of the offering period,
whichever is lower.
COMMON SHARES RESERVED FOR FUTURE ISSUANCE
At March 31, 2000, the Company has the following shares of common stock reserved for issuance upon the exercise
of equity instruments (in thousands):
Stock Options:
Issued and outstanding 20,283
Authorized for future grants 13,500
Stock purchase plans 1,269
35,052