Creative 2000 Annual Report Download - page 31

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31
NOTE 8 – EMPLOYEE SHARE PURCHASE AND STOCK OPTION PLANS (Cont’d)
Summary of outstanding options under Creative’s employee stock option plans
The following table summarizes option information for Creative’s employee stock option plans (New Plan and 1999 Scheme)
as at June 30, 2000.
Options Outstanding Options Exercisable
Weighted
Average
Remaining Weighted Weighted
Range of Number Contractual Average Number Average
Exercise Prices Outstanding Life Exercise Price Exercisable Exercise Price
(’000) (years) ($) (’000) ($)
$3.00 to $4.99 736 1.41 4.79 500 4.77
$5.00 to $7.99 715 1.41 5.83 533 5.84
$8.00 to $10.99 6,611 8.76 9.18 1,341 9.22
$11.00 to $14.99 117 1.83 12.73 78 12.68
$15.00 to $22.00 715 7.20 19.61 142 19.98
8,894 7.35 9.44 2,594 8.36
Subsidiary Stock Option Plan
The total number of shares that may be granted as options under the subsidiary 2000 Stock Option Plan (“2000 Plan”) is
8 million shares provided that such amounts shall be automatically increased on the first day (July 1) of each of the five fiscal
years ending June 30, 2001, 2002, 2003, 2004 and 2005 by the lesser of (i) three hundred thousand shares or (ii) one percent
of the issued share capital of the Company as at the last day of the immediately preceding fiscal year. The exercise price
of options granted under the 2000 Plan may be less than the fair market value of the shares as of the date of grant and the
options expire after the tenth anniversary of the date of grant.
In December 1999, the subsidiary agreed to issue options to certain key executives to acquire 1.2 million shares at an exercise
price of $1.00 per share. The options were granted in May 2000, vest over four years and are exercisable for 10 years.
In May 2000, the subsidiary granted options to its employees to acquire 2.1 million shares at an exercise price of $2.50 per
share. These options vest over four years and are exercisable for 10 years. In May 2000, the subsidiary also granted options
to certain employees of Creative to acquire 0.47 million shares at an exercise price of $2.50 per share and 0.06 million shares
at $1.00 per share. The options vest over four years effective from April 1, 2000 and are exercisable for 5 years.