3Ware 2003 Annual Report Download - page 74

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APPLIED MICRO CIRCUITS CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
A summary of the Company’s stock option activity and related information is as follows (options in
thousands):
Fiscal Years Ended March 31,
2001 2002 2003
Options
Weighted
Average
Exercise
Price Options
Weighted
Average
Exercise
Price Options
Weighted
Average
Exercise
Price
Outstanding at beginning of year ............... 40,566 $22.16 54,466 $36.22 25,807 $12.33
Granted and assumed ..................... 24,580 47.90 10,269 18.21 42,604 5.99
Exercised .............................. (9,727) 6.68 (3,436) 3.52 (1,514) 1.78
Forfeited .............................. (953) 39.83 (35,492) 51.55 (5,910) 9.92
Outstanding at end of year ..................... 54,466 $36.22 25,807 $12.33 60,987 $ 8.39
Vested at end of year ......................... 13,757 $23.02 14,998 $10.57 40,467 $ 9.18
The following is a further breakdown of the options outstanding at March 31, 2003 (options in thousands):
Range of Exercise Prices
Options
Outstanding
Weighted
Average
Remaining
Contractual
Life
Weighted
Average
Exercise
Price
Options
Exercisable
Weighted
Average
Exercise
Price
$ 0.03–$ 3.85 8,172 7.78 $ 3.01 3,424 $ 2.06
$ 3.86–$ 6.03 6,690 8.03 $ 4.59 3,145 $ 5.09
$ 6.04–$ 6.48 3,328 6.07 $ 6.47 3,323 $ 6.47
$ 6.49–$ 6.54 29,518 7.44 $ 6.54 19,836 $ 6.54
$ 6.55–$16.25 6,231 6.78 $11.74 4,866 $11.89
$16.26–$25.00 6,326 7.56 $21.47 5,354 $21.45
$25.01–$99.50 722 7.27 $45.62 519 $46.85
$ 0.03–$99.50 60,987 7.42 $ 8.39 40,467 $ 9.18
Employee Stock Purchase Plans
The Company has in effect an employee stock purchase plan under which 14.4 million shares of common
stock have been reserved for issuance. Under the terms of this plan, purchases are made semiannually 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. At March 31, 2003, approximately 6.6 million shares had
been issued under this plan and approximately 7.8 million shares were available for future issuance.
F-19