Adaptec 2010 Annual Report Download - page 91

Download and view the complete annual report

Please find page 91 of the 2010 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 105

  • 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
  • 101
  • 102
  • 103
  • 104
  • 105

The 2011 Plan was approved by stockholders at the 2010 Annual Meeting. The 2011 Plan will become effective on
February 11th 2011 and will replace the 1991 Plan 12,000,000 shares of our common stock have been reserved for issuance under the
2011 Plan.
During 2010, Mr. Bailey, a director of the Company, Mr. Kurtz, a director of the Company, Mr. Stibitz, our Vice President and
General Manager, Enterprise and Storage Division, Mr. Elmurib, Vice President and General Manager, Microprocessor Products
Division, and Mr. Lang, President, Chief Executive Officer, and Director of the Company adopted 10b5-1 trading plans.
The information required by this Item is incorporated by reference from the information set forth in the section entitled
“Executive Compensation Change of Control and Severance Agreements” in our Proxy Statement for the 2011 Annual Stockholder
Meeting.
The information required by this Item is incorporated by reference from our Proxy Statement for the 2011 Annual Stockholder
Meeting.
PART IV
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 in Item 8 of Part II.
2. Financial Statement Schedules
Financial Statement Schedules required by this item are listed on page 96 of this Annual Report on Form 10-K.
90
(4) On April 30, 2008 the security holders of PMC Sierra approved the 2008 Equity Plan (the “2008 Plan”). The effective date for
the 2008 Plan was January 1, 2009. The 2008 Plan replaced the 1994 Plan and the 2001 Plan, and no further awards shall be
made under either the 1994 Plan or the 2001 Plan.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE.
ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.
(a) 1. Consolidated Financial Statements