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ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
93
Information regarding performance shares outstanding at November 28, 2014, November 29, 2013 and November 30, 2012
is summarized below:
Number of
Shares
(thousands)
Weighted
Average
Remaining
Contractual
Life
(years)
Aggregate
Intrinsic
Value(*)
(millions)
2014
Performance shares outstanding................................................................ 354 0.16 $ 26.1
Performance shares vested and expected to vest....................................... 348 0.16 $ 25.5
2013
Performance shares units outstanding....................................................... 861 0.58 $ 48.9
Performance shares vested and expected to vest....................................... 817 0.56 $ 46.3
2012
Performance shares units outstanding....................................................... 388 0.54 $ 13.4
Performance shares vested and expected to vest....................................... 369 0.51 $ 12.7
_________________________________________
(*) 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 28, 2014, November 29, 2013 and November 30, 2012 were $73.68, $56.78
and $34.61, respectively.
Summary of Employee Stock Purchase Plan Shares
The weighted average subscription date fair value of shares under the ESPP during fiscal 2014, 2013 and 2012 were $17.02,
$11.40 and $9.09, respectively. Employees purchased 2.9 million shares at an average price of $34.76, 3.4 million shares at an
average price of $25.71, and 3.2 million shares at an average price of $23.81, respectively, for fiscal 2014, 2013 and 2012. The
intrinsic value of shares purchased during fiscal 2014, 2013 and 2012 was $93.4 million, $58.5 million and $22.8 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.