Avnet 2001 Annual Report Download - page 54

Download and view the complete annual report

Please find page 54 of the 2001 Avnet annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 64

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64

5252
Avnet, Inc. and Subsidiaries
Notes to Consolidated Financial Statements (Continued)
The options granted in 2001 and 2000 shown above include 464,516
and 1,388,474 options granted to former employees of Savoir and
Marshall, respectively, as substitute options for options outstanding
on the date of each acquisition. These options are subject to the
terms of the various Savoir and Marshall plans assumed by Avnet
as part of the acquisitions. Of these options, 404,748 options related
to Savoir and 26,772 options related to Marshall had not yet been
exercised at June 29, 2001.
The following is a summary of the changes in outstanding options for the three years ended June 29, 2001:
2001 2000 1999
Weighted Weighted Weighted
Average Average Average
Exercise Exercise Exercise
Shares Price Shares Price Shares Price
Outstanding at beginning of year 9,140,373 $20.55 $ 8,473,388 $20.53 7,145,969 $21.34
Granted 2,285,404 29.89 3,327,700 16.07 2,593,871 17.12
Exercised (996,849) 14.87 (2,240,867) 13.99 (843,186) 7.71
Canceled or expired (303,550) 22.07 (419,848) 19.51 (423,266) 23.25
Outstanding at end of year 10,125,378 23.20 9,140,373 20.55 8,473,388 20.53
Exercisable at end of year 6,027,938 22.92 4,300,736 21.26 3,757,036 20.55
The following information relates to options outstanding at June 29, 2001:
Options Outstanding Options Exercisable
Weighted
Weighted Average Weighted
Range of Number Average Remaining Average
Exercise of Options Exercise Contractual Number Exercise
Prices Outstanding Price Life of Options Price
Under $10 153,818 $ 8.50 39 Months 153,557 $ 8.49
$10.00–15.00 909,437 12.52 69 Months 682,329 12.61
15.00–20.00 2,415,296 17.92 76 Months 1,432,065 17.95
20.00–25.00 3,450,496 22.76 74 Months 2,337,071 23.19
25.00–30.00 1,569,639 28.33 109 Months 98,610 27.55
30.00–35.00 1,320,722 31.92 79 Months 1,014,926 31.95
35.00–60.00 305,970 45.18 72 Months 269,380 45.47
10,125,378 6,027,938