Autodesk 2003 Annual Report Download - page 62

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AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Dividends
During fiscal 2003, 2002 and 2001 Autodesk paid annual cash dividends of $0.12 per share at a rate of $0.03
each quarter.
Note 9. Stock Compensation and Employee Benefit Plans
Stock Option Plans
Autodesk maintains three active stock option plans for the purpose of granting stock options to employees
and members of Autodesk’s Board of Directors: the 1996 Stock Plan, the Nonstatutory Stock Option Plan and the
2000 Directors’ Option Plan. Additionally, there are five expired plans with options outstanding.
Autodesk’s continued growth and success is dependent upon its ability to attract and retain highly skilled
employees. Competition for these employees in the marketplace, especially in the technology industries, has
historically been intense. As such, Autodesk uses stock option awards as one means of attracting and retaining
highly skilled employees.
The 1996 Stock Plan, which was approved by stockholders, allows for options to be granted to employees,
including officers. At January 31, 2003, 8.8 million shares were available for future issuance. This amount will
automatically be increased on the first trading day of each fiscal year by an amount equal to the lesser of 10.0
million shares or 3.5 percent of the total outstanding shares plus any shares repurchased by Autodesk during the
prior fiscal year. The plan expires during 2006.
In 1996 Autodesk adopted the Nonstatutory Stock Option Plan and allows for options to be granted to
employees and consultants. Officers and members of Autodesk’s Board of Directors are not eligible to participate
in this plan. Autodesk does not have a practice of awarding stock options to consultants. This plan was not
subject to stockholder approval. At January 31, 2003, 0.2 million shares were available for future issuance.
The 2000 Directors’ Option Plan, which was approved by stockholders, allows for an annual grant of
options to members of Autodesk’s outside Board of Directors. At January 31, 2003, 0.5 million shares were
available for future issuance.
Options granted under the above mentioned plans vest over periods ranging from one to five years and
generally expire within ten years from date of grant. The exercise price of the stock options is generally equal to
the fair market value of the stock on the grant date.
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