Adobe 2012 Annual Report Download - page 109

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109
Information regarding restricted stock units outstanding at November 30, 2012, December 2, 2011 and December 3, 2010
is summarized below:
Number of
Shares
(thousands)
Weighted
Average
Remaining
Contractual
Life
(years)
Aggregate
Intrinsic
Value(*)
(millions)
2012
Restricted stock units outstanding............................................................. 18,415 1.37 $ 637.3
Restricted stock units vested and expected to vest ................................... 16,289 1.26 $ 562.8
2011
Restricted stock units outstanding............................................................. 16,871 1.35 $ 457.4
Restricted stock units vested and expected to vest ................................... 14,931 1.25 $ 404.3
2010
Restricted stock units outstanding............................................................. 13,890 1.54 $ 404.8
Restricted stock units vested and expected to vest ................................... 11,185 1.38 $ 325.7
_________________________________________
(*) The intrinsic value is calculated as the market value as of the end of the fiscal period. As reported by the NASDAQ Global
Select Market, the market values as of November 30, 2012, December 2, 2011 and December 3, 2010 were $34.61, $27.11
and $29.14, respectively.
Summary of Performance Shares
The following table sets forth the summary of performance share activity under our 2012 Program for the fiscal year ended
November 30, 2012 (in thousands):
Shares
Granted
Maximum
Shares Eligible
to Receive
Beginning outstanding balance............................................................................................... — —
Awarded.................................................................................................................................. 1,125 1,652
Forfeited.................................................................................................................................. (23)(34)
Ending outstanding balance.................................................................................................... 1,102 1,618
In the first quarter of fiscal 2012, the Executive Compensation Committee certified the actual performance achievement of
participants in the 2011 Performance Share Program (the “2011 Program”). Based upon the achievement of goals outlined in the
2011 Program, participants had the ability to receive up to 150% of the target number of shares originally granted. Actual
performance resulted in participants achieving 130% of target or approximately 0.5 million shares for the 2011 Program. One third
of the shares under the 2011 Program vested in the first quarter of fiscal 2012 and the remaining two thirds vest evenly on the
following two annual anniversary dates of the grant, contingent upon the recipient's continued service to Adobe.
In the first quarter of fiscal 2011, the Executive Compensation Committee certified the actual performance achievement of
participants in the 2010 Performance Share Program (the “2010 Program”). Based upon the achievement of goals outlined in the
2010 Program, participants had the ability to receive up to 150% of the target number of shares originally granted. Actual
performance resulted in participants achieving 135% of target or approximately 0.3 million shares for the 2010 Program. One third
of the shares under the 2011 Program vested in the first quarter of fiscal 2012 and the remaining two thirds vest evenly on the
following two annual anniversary dates of the grant, contingent upon the recipient's continued service to Adobe.
Table of Contents
ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)