Computer Associates 2006 Annual Report Download - page 93

Option Grants in Last Fiscal Year
The following table provides information on option grants to the Named Executive Officers relating to the fiscal
year ended March 31, 2006.
Name
Number of
Securities
Underlying
Options
Granted(1)
Percent of Total
Options
Granted to
Employees in
Fiscal Year(2)
Exercise Price
($/share)
Expiration
Date
Grant Date
Present Value
($)(3)
John A. Swainson ........ 170,700 9.53% 28.98 5/20/15 2,664,559
Russell M. Artzt ......... 102,400 5.72% 28.98 5/20/15 1,598,423
Michael Christenson ...... 75,100 4.20% 28.98 5/20/15 1,172,281
Jeff Clarke ............. 119,500 6.67% 28.98 5/20/15 1,865,347
Greg Corgan ............ 68,300 3.81% 28.98 5/20/15 1,066,136
Gary Quinn............. 51,200 2.86% 28.98 5/20/15 799,212
(1) Options generally vest in equal installments over a three-year period beginning one year after the date of grant and have a ten-year term.
(2) Based on a total of 1,790,321 options issued with respect to fiscal year 2006 (and does not include approximately 891,000 options granted in
April 2005 that relate to performance in fiscal year 2005). Does not include options granted to employees under plans assumed by the
Company in connection with acquisitions completed in fiscal year 2006. The total number of options granted to employees including under
assumed plans would be 1,870,485 and the percentages would be as follows: Mr. Swainson 9.13%; Mr. Artzt 5.47%; Mr. Christenson
4.01%; Mr. Clarke 6.39%; Mr. Corgan 3.65%; and Mr. Quinn 2.74%.
(3) The Black-Scholes option pricing model was selected to estimate the Grant Date Present Value of the options set forth in this table. The Company’s
use of this model should not be construed as an endorsement of its accuracy in valuing options. The following assumptions were made for purposes
of calculating the Grant Date Present Value: expected life of six years, volatility of 0.56, dividend yield of 0.55% and a risk-free interest rate of
3.9%.
Aggregate Option Exercises in Last Fiscal Year and
Fiscal Year-End Option Values
The following table provides information on option exercises by the Named Executive Officers during the fiscal
year ended March 31, 2006 and the value of the in-the-money options held by each of them at the end of the fiscal
year.
Name
Shares
Acquired
Value
Realized
($)(1) Exercisable Unexercisable Exercisable Unexercisable
Number of Securities
Underlying Unexercised
Options at March 31, 2006
Value of Unexercised
In-The-Money Options
at March 31, 2006 ($)(2)
John A. Swainson ........ 0 0 119,000 401,700 0 0
Russell M. Artzt ......... 555,062 5,356,065 863,139 290,837 4,720,525 9,321
Michael Christenson ...... 0 0 0 75,100 0 0
Jeff Clarke
(3)
............ 0 0 209,169 300,488 55,108 27,143
Greg Corgan
(3)
.......... 0 0 115,003 151,439 674,441 2,679
Gary Quinn ............. 79,199 830,585 779,245 138,139 755,020 4,296
(1) Value realized was calculated based on the market value of the shares purchased at the exercise date less the aggregate option exercise price.
(2) Valuation based on the closing price of $27.21 on March 31, 2006 (the last trading day of the fiscal year), less the respective exercise prices
of the options.
(3) Generally and subject to applicable law, options that are not exercised within 30 days of the date of termination of employment are forfeited.
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