Adobe 2003 Annual Report Download - page 46

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46
Distribution and Dilutive Effect of Options
The table below provides information about stock options granted for fiscal years 2003, 2002, and 2001 to our
Chief Executive Officer and our four other most highly compensated executive officers as of November 28, 2003.
This group is referred to as the Named Executive Officers. Please refer to the section below, titled “Stock Option
Exercises and Option Holdings,” for the Named Executive Officers.
Options granted to employees, directors and Named Executive Officers for the fiscal years 2001 through 2003
are summarized as follows (*):
2003 2002 2001
Net grants during the period as % of outstanding shares.............................. (3)% 3% 6%
Net grants to Named Executive Officers during the period as % of
total options granted ............................................................................... 0 % 21% 11%
Net grants to Named Executive Officers during the period as % of
outstanding shares .................................................................................. 0 % 1% 1%
Cumulative options held by Named Executive Officers as % of total
options outstanding................................................................................. 16 % 15% 12%
(*) “Net grants” equals the sum of the number of shares subject to options granted during the specified period reduced by the number of shares
subject to options which were canceled or otherwise terminated during such period. Net grants as a percentage of outstanding shares are
based on 238.3 million shares, 232.0 million shares, and 236.2 million shares of our common stock outstanding as of November 28, 2003,
November 29, 2002 and November 30, 2001, respectively.
During fiscal 2003, we granted options to purchase approximately 2.0 million shares of our stock to our
employees and directors and canceled approximately 9.4 million shares. For additional information about our
employee stock option plan activity for the years 2001 through 2003, and pro forma earnings presentation as if we
had accounted for our grant of employee stock options using the fair value method of accounting under Statement of
Financial Accounting Standards No. 123 (“SFAS No. 123”), “Accounting for Stock-Based Compensation,” refer to
Note 1 of our Notes to Consolidated Financial Statements.
We did not grant any stock options to our Named Executive Officers in fiscal 2003. Options granted to the
Named Executive Officers as a percentage of the total options granted to all employees and directors vary from year
to year. For additional information about the compensation of our executive officers and stock option grants to our
Named Executive Officers, refer to our 2004 Proxy Statement.