Adaptec 2005 Annual Report Download - page 84

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Table of Contents
Activity under the option plans during the year ended December 30, 2007 was as follows:
Number of
Options
Weighted
average price per
share
Weighted
average
remaining
contractual term
per share - Years
Aggregate
intrinsic value
per share
Outstanding, Dec 31, 2006 32,995,994 $ 9.55
Granted 4,274,427 $ 6.67
Exercised (4,847,215) $ 4.87
Cancelled, Forfeited (2,889,217) $ 10.77
Expired (2,212,484) $ 14.01
Outstanding, December 30, 2007 27,321,505 $ 9.74 6.67 $ 0.47
Vested & Expected to Vest, December 30, 2007 25,099,305 $ 9.85 6.52 $ 0.51
Exercisable, December 30, 2007 17,559,272 $ 10.85 5.76 $ 0.51
No adjustment has been recorded for fully vested options that expired during the year ended December 30, 2007. A reversal of $5.4 million was recorded for
pre-vesting forfeitures.
The following table summarizes information on options outstanding and exercisable for the combined option plans at December 30, 2007:
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
$0.05 - $5.95 6,968,919 5.94 $ 4.84 5,818,999 $ 5.08
$6.01 - $7.87 8,439,582 8.17 $ 7.26 3,019,938 $ 7.73
$7.89 - $10.82 2,964,563 6.29 $ 9.17 2,031,965 $ 9.21
$10.97 - $15.25 4,468,029 7.65 $ 11.17 2,209,670 $ 11.33
$15.98 - $189.94 4,480,412 4.26 $ 20.97 4,478,700 $ 20.97
$0.05 - $189.94 27,321,505 6.67 $ 9.74 17,559,272 $ 10.85
The weighted-average estimated fair values of employee stock options granted during fiscal 2007, 2006, and 2005 were $3.22, $4.60, and $3.34, per share,
respectively.
Restricted Stock Units
On February 1, 2007, the Company amended its stock award plans to allow for the issuance of RSUs to employees and directors. The first grant of RSUs
occurred on May 25, 2007. The grants vest over varying terms, to a maximum of four years from the date of grant.
78
Source: PMC SIERRA INC, 10-K, February 22, 2008