AMD 2007 Annual Report Download - page 249

Spansion Inc.
Notes to Consolidated Financial Statements—(Continued)
Stock Option and Restricted Unit Activity
The following table summarizes stock option activity and related information for the period presented:
Number of
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Life (in years)
Aggregate
Intrinsic Value
(in thousands)
Options:
Outstanding as of December 26, 2005(1) 1,949,750 $ 12.00
Granted 462,500 $ 14.93
Cancelled (277,344) $ 12.00
Outstanding as of December 31, 2006 2,134,906 $ 12.63 6.08 $ 4,761
Exercisable as of December 31, 2006(2) 35,156 $ 12.00 5.96 $ 101
(1) Outstanding shares at the beginning of fiscal 2006 were the shares granted upon Company’s IPO on December 15, 2005
(2) There were 35,156 shares vested during the year ended December 31, 2006, with a total grant date fair value of approximately $241,000.
The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based on the Company’s closing stock price of $14.86 as of
December 31, 2006, which would have been received by the stock option holders had all stock option holders exercised their stock options as of that date.
The following table summarizes RSU award activity and related information for the period presented:
Number of
Shares
Weighted-
Average
Grant-date
Fair Value
Restricted Stock Units:
Unvested as of December 26, 2005(1) 3,604,090 $ 12.00
Granted 362,434 $ 15.23
Cancelled (217,021) $ 13.02
Vested (825,888) $ 12.00
Unvested as of December 31, 2006 2,923,615 $ 12.33
(1) Unvested shares at the beginning of fiscal 2006 were the shares granted upon Company’s IPO on December 15, 2005
Employee Stock Purchase Plan
The 2005 Employee Stock Purchase Plan is intended to qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code
with the purpose of providing eligible employees (including officers) and eligible employees of participating subsidiaries with an opportunity to purchase
Class A common stock through payroll deductions. The 2005 Employee Stock Purchase Plan would allow eligible and participating employees to purchase,
through payroll deductions, shares of Class A common stock at a discount, not to exceed 15 percent, applied to either (1) the fair market value per share of
Class A common stock on the first business date of an offering period, or (2) the fair market value per share of Class A common stock on the last business date of
that offering period. The Company has reserved 2,250,000 shares of Class A common stock available for
Source: ADVANCED MICRO DEVIC, 10-K, February 26, 2008