Adaptec 2003 Annual Report Download - page 85

Download and view the complete annual report

Please find page 85 of the 2003 Adaptec 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 100

  • 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

we completed prior to 2001. The number of options that may be granted under the 2001 Plan equals (i) the number of shares reserved
under the assumed stock option plans that were not subject to outstanding or exercised options plus (ii) the number of options that
were outstanding at the time the plans were assumed but that have subsequently been cancelled plus (iii) 10 million shares that were
added to the plan in 2003.
(4) This table does not include a total of 13,194 shares of our stock that were issuable upon exercise under stock option plans that we
assumed but did not merge into the 2001 Plan. The weighted average exercise price of these outstanding options is $9.06. No
additional options may be granted under these plans.
(5) In accordance with the terms of the plans, on January 1, 2004 the Company authorized an additional 8,716,915 and 1,743,383
shares for issuance under the 1994 Plan and the 1991 Plan, respectively.
ITEM 13. Certain Relationships and Related Transactions.
The information required by this Item is incorporated by reference from the information set forth in the section entitled “Executive
Compensation and Other Matters – Employment Agreements” in our Proxy Statement for the 2004 Annual Stockholder Meeting.
ITEM 14. Principal Accountant Fees and Services
The information required by this Item is incorporated by reference to our Proxy Statement for the 2004 Annual Stockholder Meeting.
PART IV
ITEM 15. Exhibits, Financial Statement Schedules and Reports on Form 8−K.
(a) 1. Consolidated Financial Statements
The financial statements (including the notes thereto) listed in the accompanying index to financial statements and
financial statement schedules are filed within this Annual Report on Form 10−K.
2. Financial Statement Schedules
Financial Statement Schedules required by this item are listed on page 89 of this Annual Report on Form 10−K.
3. Exhibits
The exhibits listed under Item 15(c) are filed as part of this Form 10−K Annual Report.
(b) Reports on Form 8−K
On September 16, 2003, we filed a report on Form 8−K relating to the results of our third fiscal quarter ended
September 28, 2003. Under the Form 8−K, we furnished (not filed) pursuant to Item 12 under Item 7 the press release
entitled “PMC−Sierra Reports Profit in
79