Adobe 2008 Annual Report Download - page 97

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97
respectively, for fiscal 2008, 2007 and 2006. The intrinsic value of shares purchased during fiscal 2008, 2007 and 2006 was
$25.0 million, $39.8 million and $18.6 million, respectively. The intrinsic value is calculated as the difference between the
market value on the date of purchase and the purchase price of the shares.
Summary of Restricted Stock
Restricted stock award activity for fiscal 2008, 2007 and 2006 is as follows:
2008
2007
2006
Non-vested
Shares
Weighted
Average
Grant Date
Fair Value
Non-vested
Shares
Weighted
Average
Grant Date
Fair Value
Non-vested
Shares
Weighted
Average
Grant Date
Fair Value
Beginning balance .......
21
$
36.41
501
$
9.17
428
$
6.68
Awarded ...............
—
—
5
40.03
9
39.47
Released ...............
(15
)
34.94
(92
)
29.32
(302
)
22.03
Forfeited ...............
(2
)
39.95
(393
)
4.77
(48
)
25.53
Due to acquisition........
—
—
—
—
414
22.35
Ending balance ..........
4
$
39.31
21
$
36.41
501
$
9.17
The total fair value of restricted stock awards vested during fiscal 2008, 2007 and 2006 was $0.5 million, $0.7 million
and $0.3 million, respectively.
Restricted stock awards are considered outstanding at the time of grant, as the stock award holders are entitled to
dividends and voting rights. Unvested restricted stock awards are not considered outstanding in the computation of basic
earnings per share.
Restricted stock unit activity for fiscal 2008 and 2007 is as follows:
2008
2007
Beginning balance ......................
1,701
—
Awarded ..............................
3,177
1,771
Released ..............................
(422
)
—
Forfeited ..............................
(195
)
(70
)
Ending balance .........................
4,261
1,701
We did not grant restricted stock units in fiscal 2006. The total fair value of restricted stock units vested during fiscal
2008 was $14.4 million.