AMD 2007 Annual Report Download - page 140

Table of Contents
The summary of the changes in restricted stock awards outstanding during the year ended December 29, 2007 and December 31, 2006 is presented below:
Year Ended
December 29, 2007
Year Ended
December 31, 2006
Number of
Shares
Weighted-
Average
Grant Date
Fair Value
Number of
Shares
Weighted-
Average
Grant Date
Fair Value
(In thousands except share price)
Nonvested balance at beginning of period 7,062 $ 24.65 1,067 $ 21.46
Granted 6,445 $ 14.89 6,444 $ 25.61
Forfeited (1,124) $ 22.77 (124) $ 26.20
Vested (2,516) $ 17.94 (325) $ 33.64
Nonvested balance at end of period 9,867 $ 20.20 7,062 $ 24.65
The table above does not include restricted stock units accounted for as liability awards related to the ATI acquisition.
The total fair value of restricted stock and restricted stock units vested during 2007 and 2006 was $37 million and $11 million, respectively. The total fair
value of restricted stock and restricted stock units vested during 2005 was insignificant. Compensation expense recognized for the restricted stock units for 2007,
2006 and 2005 was approximately $68 million, $29 million and $3 million. Compensation expense recognized for the restricted stock awards is not significant.
As of December 29, 2007, the Company had $39 million of total unrecognized compensation expense, net of estimated forfeitures, related to stock options
that will be recognized over the weighted average period of 1.45 years.
As of December 29, 2007, the Company had $114 million of total unrecognized compensation expense, net of estimated forfeitures, related to restricted
stock awards and restricted stock units that will be recognized over the weighted average period of 2.15 years.
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 29, 2007, approximately $4 million common shares remained available for issuance under the plan. As a result of
cost cutting efforts, the Company suspended its ESPP program for the November 2007 and February 2008 purchase periods. A summary of stock purchased
under the ESPP for the specified fiscal years is shown below:
2007 2006 2005
Aggregate purchase price (in millions) $ 51 $ 30 $ 23
Shares purchased (in thousands) 4,385 1,550 2,262
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Source: ADVANCED MICRO DEVIC, 10-K, February 26, 2008