Autodesk 2007 Annual Report Download - page 161

101
2007 Annual Report
AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 2. Restatement of Consolidated Financial Statements (Continued)
For more information regarding our restated financial statements, see “Financial Statements and
Supplementary Data” in Item 8, “Selected Consolidated Financial Data” in Item 6 and “Quarterly Financial
Information (Unaudited)” in Note 17 of the Notes to Consolidated Financial Statements.
Note 3. Employee and Director Benefit Plans
Stock Option Plans
As of January 31, 2006, Autodesk maintained two active stock option plans for the purpose of
granting stock options to employees and members of Autodesk’s Board of Directors (the “Board”): the
2006 Employee Stock Plan (available only to employees) and the 2000 Directors’ Option Plan (available
only to non-employee directors). Additionally, there are eight expired or terminated plans with options
outstanding, including the 1996 Stock Plan which was replaced by the 2006 Employee Stock Plan in March
2006. In connection with the acquisitions of various companies, Autodesk has also issued replacement
options.
On November 10, 2005, the Company’s stockholders approved a new stock plan, the 2006 Employee
Stock Plan (the “2006 Plan”) as well as amendments to the 2000 Directors’ Option Plan. The 2006 Plan
reserves 9.65 million shares of Autodesk common stock, plus 0.22 million shares that remained available
for issuance under the 1996 Stock Plan upon its expiration, for issuance under the plan. At January 31, 2007,
8.0 million shares were available for future issuance. The 2006 Plan will expire in March of fiscal 2009.
The 2000 Directors’ Option Plan, which was approved by the stockholders, allows for an automatic
annual grant of options to non-employee members of Autodesk’s Board of Directors. At January 31, 2007,
0.64 million shares were available for future issuance, all of which were approved by the stockholders on
November 10, 2005. The 2000 Directors’ Option Plan will expire in March of fiscal 2010.
Options granted under the above mentioned plans vest over periods ranging from one to four years
and generally expire within six to ten years from the date of grant. Under the 2006 Plan and the 2000
Directors’ Option Plan, as amended, the option term is limited to no more than six years. From March
2005 through the end of fiscal 2007 the exercise price of the stock options is equal to the fair market value
of the stock on the grant date.