Autodesk 2007 Annual Report Download - page 162

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102
AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 3. Employee and Director Benefit Plans (Continued)
A summary of stock option activity is as follows:
Number of
Shares
Weighted
average price
per share
(in thousands)
Options outstanding at January 31, 2006 . . . . . . . . . . . . . . . . . . . . . . . . 30,042 $16.44
Granted ................................................... 5,801 37.27
Options assumed in an acquisition . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 11.14
Exercised .................................................. (4,906) 11.25
Forfeited................................................... (1,396) 23.25
Expired .................................................... (179)
Options outstanding at January 31, 2007 . . . . . . . . . . . . . . . . . . . . . . . . 29,374 $21.03
Options exercisable at January 31, 2007 . . . . . . . . . . . . . . . . . . . . . . . . . 15,626 13.89
Options available for grant at January31, 2007 . . . . . . . . . . . . . . . . . . . 8,647
The total pre-tax intrinsic value of options exercised, as of their exercise date, was $127.2 million in
fiscal 2007, $341.1 million in fiscal 2006, and $297.0 million in fiscal 2005.
The following table summarizes information about options outstanding and exercisable at
January 31, 2007:
Options Exercisable Options Outstanding
Number of
Shares
(in thousands)
Weighted
average
contractual
life
(in years)
Weighted
average
exercise
price
Aggregate
intrinsic
value (1)
(in millions)
Number of
Shares
(in thousands)
Weighted
average
contractual
life
(in years)
Weighted
average
exercise
price
Aggregate
intrinsic
value (1)
(in millions)
Range of per-share
exercise prices:
$ 0.20 – $ 8.73 . . . . . . . . . 5,964 $ 7.29 6,639 $ 7.29
$ 8.82 – $14.40. . . . . . . . . 5,203 11.43 6,728 11.97
$14.49 – $29.37 . . . . . . . . 3,045 21.30 6,984 22.97
$30.15 – $38.00 . . . . . . . . 1,124 32.23 7,032 34.87
$38.10 – $47.24 . . . . . . . . 290 44.84 1,991 41.72
15,626 5.71 13.89 $467.0 29,374 5.73 21.03 $668.8
(1) Represents the total pre-tax intrinsic value, based on Autodesk’s closing stock price of $43.75 per
share as of January 31, 2007, which would have been received by the option holders had all option
holders exercised their options as of that date.
These options will expire if not exercised at specific dates ranging through 2016. At January 31, 2007,
a total of 26.8 million shares of Autodesk’s common stock have been reserved for future issuance under
existing stock option and stock purchase programs.
On September 18, 2006, Autodesk’s Board of Directors approved an amendment to certain stock
option agreements issued pursuant to any of the Company’s stock option plans where the optionee
has terminated or may terminate his or her employment or service with the Company and whose