Autodesk 2010 Annual Report Download - page 170

AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
stock option grant date using the Black-Scholes-Merton option pricing model, was $6.13, $9.82 and $14.41 per
share, respectively. As of January 31, 2010, total compensation cost related to non-vested options not yet
recognized of $53.1 million is expected to be recognized over a weighted average period of 1.9 years.
The following table summarizes information about options outstanding and exercisable at January 31, 2010:
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:
$0.61 – $13.84 ........ 3,458 $ 9.19 6,165 $10.56
$14.15 – $22.40 ....... 2,106 18.32 5,985 17.48
$23.56 – $32.90 ....... 3,942 30.57 6,815 31.02
$33.16 – $45.29 ....... 6,864 40.58 9,271 40.92
$47.24 – $49.80 ....... 657 48.43 847 48.59
17,027 3.0 $29.44 $62.0 29,083 4.0 $27.56 $119.4
(1) Represents the total pre-tax intrinsic value, based on Autodesk’s closing stock price of $23.79 per share as
of January 31, 2010, 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 December 2016.
Restricted Stock:
A summary of restricted stock award and restricted stock unit activity for the fiscal year ended January 31,
2010 is as follows:
Non-vested
Stock
Weighted
average grant
date fair value
(in thousands)
Non-vested restricted stock at January 31, 2009 ..................... 133 $38.08
Awarded ................................................ 744 22.71
Vested .................................................. (22) 17.89
Non-vested restricted stock at January 31, 2010 ..................... 855
During the fiscal year ended January 31, 2010, Autodesk granted 713,822 restricted stock units under the 2008
Plan. The restricted stock units vest over periods ranging from immediately upon grant to the third anniversary of
the date of grant. Restricted stock units are not considered outstanding stock at the time of grant, as the holders of
these units are not entitled to any of the rights of a stockholder, including voting rights, until the units have vested.
The fair value of the restricted stock is expensed ratably over the vesting period. Autodesk recorded share-based
compensation expense related to restricted stock units of $1.9 million and $0.6 million during fiscal years ended
January 31, 2010 and 2009, respectively. As of January 31, 2010, total compensation cost related to non-vested
awards not yet recognized of $12.1 million is expected to be recognized over a weighted average period of 1.8
years. At January 31, 2010, the number of units granted but unvested was 824,694.
During the fiscal year ended January 31, 2010, Autodesk issued 30,001 restricted stock awards under the 2000
Plan. The restricted stock awards vest on the first anniversary of the date of grant. Restricted stock awards are
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