AMD 1999 Annual Report Download - page 166

Exercisable at end of year 10,704 15.93 9,697 14.60 8,299 13.28
Available for grant at
beginning of year 5,653 966 3,845
Available for grant at end
of year 3,057 5,653 966
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The following table summarizes information about options outstanding as of
December 26, 1999.
(Shares in thousands) Options outstanding Options exerciseable
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Weighted-average
Range of Number remaining contractual Weighted-average Number Weighted-average
exercise prices of shares life (years) exercise price of shares exercise price
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$ 0.01 - $13.00 5,530 4.44 $ 9.89 4,768 $10.31
13.38 - 16.44 7,267 7.62 15.25 2,843 14.42
16.50 - 22.38 5,561 8.64 18.77 1,404 18.77
22.56 - 43.25 2,636 6.74 30.92 1,689 31.98
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$ 0.01 - $43.25 20,994 6.94 16.74 10,704 15.93
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Stock Purchase Plan. The Company has an employee stock purchase plan (ESPP) that
allows participating U.S. employees to purchase, through payroll deductions,
shares of our common stock at 85 percent of the fair market value at specified
dates. As of December 26, 1999, 1,566,766 common shares remained available for
issuance under the plan. A summary of stock purchased under the plan is shown
below:
(Thousands except employee participants) 1999 1998 1997
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Aggregate purchase price $13,294 $14,949 $14,470
Shares purchased 861 952 673
Employee participants 2,273 3,037 3,046
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Stock Appreciation Rights. The Company may grant stock appreciation rights
(SARs) to key employees under the 1992 stock incentive plan. The number of SARs
exercised plus common stock issued under the stock option plans may not exceed
the number of shares authorized under the stock option plans. The Company may
grant SARs in tandem with outstanding stock options, in tandem with future stock
option grants or independently of any stock options. Generally, the terms of
SARs granted under the plan are similar to those of options granted under the
stock option plans, including exercise prices, exercise dates and expiration
dates. To date, the Company has granted only limited SARs, which become
exercisable in the event of certain changes in control of AMD.
Restricted Stock Awards. The Company established the 1987 restricted stock award
plan under which the Company was authorized to issue up to two million shares of
common stock to employees, subject to terms and conditions determined at the
discretion of the Board of Directors. The Company entered into agreements to
issue 15,000 shares in 1997. The 1987 plan expired in 1997. To date, the Company
has canceled agreements covering 316,239 shares without issuance and the Company
has issued 1,874,922 shares pursuant to prior agreements. As of December 26,
1999, agreements covering 46,051 shares were outstanding. Outstanding awards
vest under varying terms within five years.
In 1998, the Company adopted the 1998 stock incentive plan under which the
Company was authorized to issue one million shares of common stock to employees
who are not covered by Section 16 of the Securities Exchange Act of 1934, as
amended (the Exchange Act), subject to terms and conditions determined at the
discretion of the Board of Directors. During the fiscal year, the Company issued
90,900 shares. As of December 26, 1999, all the shares issued were outstanding.
Shares Reserved for Issuance. The Company had a total of approximately
40,245,000 shares of common stock reserved as of December 26, 1999 for issuance
related to our Convertible Subordinated Notes, the employee stock option plans,
the ESPP and the restricted stock awards.
Stock-Based Compensation. As permitted under SFAS 123, the Company has elected
to follow APB 25 and related Interpretations in accounting for stock-based
awards to employees. Pro forma information regarding net income (loss) and net
income (loss) per share is required by SFAS 123 for awards granted after
December 31, 1994, as if the Company had
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Source: ADVANCED MICRO DEVIC, 10-K405, March 21, 2000