Adaptec 2004 Annual Report Download - page 76

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Options
Available
For Issuance
Number of
Options
Outstanding
Weighted
Average
Exercise
Price
Per Share
Balance at December 31, 2001 2,793,046 32,104,389 $ 26.82
Additional shares reserved 8,284,696
Granted (658,111) 658,111 $ 7.39
Exercised — (964,794) $ 2.76
Expired —
Cancelled/Repurchased 20,667,351 (20,652,984) $ 36.77
Cancelled but unavailable (230,181)
Balance at December 31, 2002 30,856,801 11,144,722 $ 9.51
Additional shares reserved 18,372,092
Granted (17,717,775) 17,717,775 $ 6.09
Exercised — (4,979,802) $ 5.75
Expired —
Cancelled/Repurchased 1,774,355 (1,774,355) $ 11.67
Cancelled but unavailable (861)
Balance at December 31, 2003 33,284,612 22,108,340 $ 7.51
Additional shares reserved 8,716,915
Granted (7,306,871) 7,306,871 $ 17.83
Exercised — (2,617,899) $ 5.59
Expired —
Cancelled/Repurchased 1,281,919 (1,281,919) $ 12.51
Cancelled but unavailable (119,510)
Balance at December 31, 2004 35,857,065 25,515,393 $ 10.40
The following table summarizes information concerning options outstanding and exercisable for the combined option plans at
December 31, 2004:
Options Outstanding Options Exercisable
Range of
Exercise Prices Options
Outstanding
Weighted
Average
Remaining
Contractual
Life (years)
Weighted
Average
Exercise
Price per
Share Options
Exercisable
Weighted
Average
Exercise
Price per
Share
$0.01 — $5.56 2,631,239 3.55 $ 3.56 2,330,652 $ 3.41
$5.95 — $5.95 11,213,292 8.26 5.95 7,077,228 5.95
$6.00 — $10.00 3,350,963 5.55 8.08 2,175,524 7.71
$10.03 — $19.87 2,798,693 5.61 14.63 2,169,713 15.14
$20.13 — $189.94 5,521,206 8.88 21.98 247,491 60.87
$0.01 — $189.94 25,515,393 7.26 $ 10.40 14,000,608 $ 8.20
Voluntary stock option exchange offer. On September 26, 2002, the Company completed an offering to all eligible option holders of
an opportunity to voluntarily exchange certain stock options.
70