AMD 2005 Annual Report Download - page 117

Download and view the complete annual report

Please find page 117 of the 2005 AMD annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 154

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154

Table of Contents
The following table summarizes stock option activity and related information for the fiscal years presented:
Year Ended
December 25, 2005
Year Ended
December 26, 2004
Number
of
Shares
Weighted-
Average
Exercise
Price
Number
of
Shares
Weighted-
Average
Exercise
Price
(In thousands except share price)
Options:
Outstanding at beginning of year 53,702 $ 13.58 40,969 $ 12.92
Granted 8,145 $ 18.42 26,121 $ 14.54
Canceled (1,081) $ 15.22 (3,425) $ 23.20
Exercised (14,838) $ 11.31 (9,981) $ 10.08
Outstanding at end of year 45,928 $ 15.14 53,684 $ 13.58
Exercisable at end of year 36,832 $ 14.94 32,250 $ 13.72
Available for grant at beginning of year 23,901 29,613
Available for grant at end of year 15,668 23,901
The following table summarizes information about options outstanding as of December 25, 2005:
Options outstanding
Options exercisable
Range of exercise prices
Number of
shares
Weighted-
average
remaining
contractual
life (years)
Weighted-
average
exercise
price
Number of
shares
Weighted-
average
exercise
price
(Shares in thousands)
$ 0.01 – $11.69 12,163 5.19 $ 8.90 9,887 $ 8.70
$11.70 – $14.86 17,341 5.94 14.43 14,198 14.51
$14.89 – $22.35 12,382 5.96 17.62 9,378 16.67
$22.38 – $45.50 4,042 5.26 29.35 3,369 30.22
45,928 5.69 $ 15.14 36,832 $ 14.94
Stock Purchase Plan. The Company has an employee stock purchase plan (ESPP) that allows eligible and participating employees to purchase, through
payroll deductions, shares of the Company’s common stock at 85 percent of the lower of the fair market value on the first or the last business day of the
three-month offering period. As of December 25, 2005, 2,341,327 common shares remained available for issuance under the plan. A summary of stock purchased
under the plan for the specified fiscal years is shown below:
2005 2004 2003
(In thousands)
Aggregate purchase price $ 23,079 $ 24,345 $ 17,060
Shares purchased 2,262 2,151 3,414
The weighted-average fair value of rights granted under the Company’s ESPP during 2005, 2004 and 2003 were $4.29, $2.66 and $4.86 per share.
Restricted Stock Units and Awards. As of December 25, 2005, the Company had granted 1,095,401 units of restricted stock under its 2004 Plan.
Compensation expense recognized for the restricted stock units for 2005 is approximately $2.8 million and the compensation expense recognized for prior
periods is not significant. Compensation expense recognized for the restricted stock awards is not significant. Because the Company plans to grant employees
primarily restricted stock units in the future, the compensation expense is expected to become increasingly significant for future periods.
112
Source: ADVANCED MICRO DEVIC, 10-K, February 27, 2006