Autodesk 2003 Annual Report Download - page 64

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AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
the plan agreement. At January 31, 2003, a total of 5.1 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 5.0 million shares or 2.0 percent of the total outstanding shares plus any shares repurchased by
Autodesk during the prior fiscal year. Autodesk issued 2.0 million shares at an average price of $11.55 per share
in fiscal 2003, 2.1 million shares at an average price of $9.43 per share in fiscal 2002, and 1.9 million shares at
an average price of $9.14 in fiscal 2001. The provisions of this plan expire during 2018.
Equity Compensation Plan Information
The following table summarizes the number of outstanding options granted to employees and directors, as
well as the number of securities remaining available for future issuance, under these plans (number of securities
in thousands) as of January 31, 2003.
(a) (b) (c)
Plan category
Number of securities
to be issued upon
exercise of
outstanding options,
warrants and rights
Weighted-average
exercise price of
outstanding options,
warrants and rights
Number of securities remaining
available for future issuance
under equity compensation
plans (excluding securities
reflected in column (a))
Equity compensation plans approved by security
holders(1) ................................. 19,456 $16.10 14,380(2)
Equity compensation plans not approved by security
holders(3) ................................. 9,989 $16.40 217
Total........................................ 29,445 $16.19 14,597
(1) Included in these amounts are 0.4 million securities available to be issued upon exercise of outstanding
options with a weighted-average exercise price of $16.14 related to equity compensation plans assumed in
connection with previous business mergers and acquisitions.
(2) Included in this amount are 5.1 million securities available for future issuance under Autodesk’s 1998
Employee Qualified Stock Purchase Plan.
(3) Amounts correspond to Autodesk’s Nonstatutory Stock Option Plan, which is not subject to stockholder
approval.
Pro Forma Net Income (Loss) Information
Autodesk applies APB 25 in accounting for its employee stock plans. Accordingly, no compensation
expense is recognized in Autodesk’s consolidated statement of operations, other than for stock awards that have
exercise prices less than the fair market value of Autodesk’s common stock at the date of grant.
For purposes of disclosures pursuant to SFAS 123 as amended by SFAS 148, the estimated fair value of
options is amortized to expense over the options’ vesting period. Refer to Note 1 for further discussion.
The weighted average estimated fair value of stock options granted was $7.82 per share during fiscal 2003,
$8.93 during fiscal 2002 and $8.75 during fiscal 2001. These were estimated using the Black-Scholes option-
pricing model, based on the following assumptions:
2003 2002 2001
Volatility .......................................... 0.6 0.6 0.6
Weighted-average estimated life ........................ 5years 5 years 5 years
Weighted-average risk-free interest rate .................. 3.0percent 4.8 percent 5.7 percent
Dividend yield ...................................... 0.8percent 0.7 percent 0.8 percent
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