Autodesk 2011 Annual Report Download - page 144

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AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
These options will expire if not exercised at specific dates ranging through December 2017.
Restricted Stock:
A summary of restricted stock award and restricted stock unit activity for the fiscal year ended January 31,
2011 is as follows:
Unreleased
Restricted
Stock
Weighted
average grant
date fair value
(in thousands)
Unreleased restricted stock at January 31, 2010 ..................... 855 $24.77
Awarded ................................................ 628 37.48
Released ................................................ (30) 22.46
Forfeited ................................................ (26) 24.17
Unreleased restricted stock at January 31, 2011 ..................... 1,427 $30.43
During the fiscal year ended January 31, 2011, Autodesk granted approximately 605,000 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.
The fair value of the restricted stock units are expensed ratably over the vesting period. Autodesk recorded stock-
based compensation expense related to restricted stock units of $8.9 million and $1.9 million during fiscal years
ended January 31, 2011 and 2010, respectively. As of January 31, 2011, total compensation cost not yet
recognized of $22.5 million related to non-vested awards, is expected to be recognized over a weighted average
period of 1.3 years. At January 31, 2011, the number of units granted but unreleased was 1,404,000.
During the fiscal year ended January 31, 2011, Autodesk granted approximately 23,000 restricted stock
awards under the 2010 Plan. Restricted stock awards granted under the 2010 Plan vest on the first anniversary of
the date of grant. Restricted stock awards are considered outstanding at the time of grant, as the stock award
holders are entitled to many of the rights of a stockholder, including voting rights. The fair value of the restricted
stock awards are expensed ratably over the vesting period. Autodesk recorded stock-based compensation expense
related to restricted stock awards of $0.7 million during each of the fiscal years ended January 31, 2011 and
2010, respectively. As of January 31, 2011, total compensation cost not yet recognized of $0.2 million related to
non-vested awards, is expected to be recognized over a weighted average period of 0.4 years. At January 31,
2011, the number of awards granted but unreleased was 23,000.
1998 Employee Qualified Stock Purchase Plan (“ESP Plan”)
Under Autodesk’s ESP Plan, which was approved by stockholders in 1998, eligible employees may
purchase shares of Autodesk’s common stock at their discretion using up to 15% of their eligible compensation
subject to certain limitations, at not less than 85% of fair market value as defined in the ESP Plan. At January 31,
2011, a total of 27.8 million shares were available for future issuance. This amount automatically increases on
the first trading day of each fiscal year by an amount equal to the lesser of 10.0 million shares or 2.0% of the
total of (1) outstanding shares plus (2) any shares repurchased by Autodesk during the prior fiscal year. Under the
ESP Plan, the Company issues shares on the first trading day following March 31 and September 30 of each
fiscal year. The ESP Plan expires during fiscal 2018.
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