Adobe 2008 Annual Report Download - page 95

Download and view the complete annual report

Please find page 95 of the 2008 Adobe 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 128

  • 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
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

95
based awards issued in India under amended equity award agreements. The assumptions used in the valuation of equity
awards in India are the same as those used for all of our equity awards as noted above. The recovery of fringe benefit tax is
recorded as stock-based compensation cost in our consolidated statements of income.
Summary of Stock Options
The following table sets forth the summary of option activity under our stock option program for fiscal years 2008, 2007
and 2006:
Outstanding Options
Number of
Shares
Weighted
Average
Exercise
Price
December 2, 2005 ..............
65,251
$
21.76
Granted .....................
12,017
28.71
Exercised ...................
(25,873
)
17.73
Cancelled ...................
(4,807
)
25.33
Due to acquisition ............
15,143
—
December 1, 2006 ..............
61,731
$
24.19
Granted .....................
10,084
40.36
Exercised ...................
(21,368
)
21.18
Cancelled ...................
(2,705
)
33.18
November 30, 2007 .............
47,742
$
28.47
Granted ....................
5,462
35.08
Exercised ...................
(9,983
)
25.45
Cancelled ...................
(2,517
)
35.34
November 28, 2008 .............
40,704
$
29.67
The weighted average fair values of options granted during fiscal 2008, 2007 and 2006 were $10.32, $12.37 and $10.79,
respectively.
The total intrinsic value of options exercised during fiscal 2008, 2007 and 2006 was $142.4 million, $463.6 million and
$440.0 million, respectively. The intrinsic value is calculated as the difference between the market value on the date of
exercise and the exercise price of the shares.