Creative 2001 Annual Report Download - page 29

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29
Subsidiary Stock Option Plan (Cont’d)
In fiscal 2001, the subsidiary granted 0.9 million options under the 2000 Plan at a weighted average exercise price
of $2.45. Included in the options granted during the fiscal year were replacement options granted to certain employees
of Creative Technology Ltd to acquire 235,000 and 30,000 of the subsidiary company’s shares at an exercise price
of $2.50 and $1.00 per share respectively. These options were granted in lieu of the cancellation of 470,000 shares
at an exercise price of $2.50 per share and 60,000 shares at $1.00 per share. The replacement options vest immediately
on grant date and the share compensation expense arising from replacement of options amounted to $0.7 million.
A summary of options granted to employees, consultants and directors under the subsidiary’s stock option plan is
presented below:
Options Outstanding
Weighted Average
Number of Shares Exercise Price
(’000) ($)
Balance as of June 30, 2000 3,841 1.98
Options granted 899 2.45
Options canceled (2,540) 1.80
Balance as of June 30, 2001 2,200 2.39
The following table summarizes option information for the subsidiary employee stock option plan as at June 30,
2001:
Range of Weighted Average
Exercise Price Number Outstanding Remaining Contractual Life Number Exercisable
(’000) (years) (’000)
$1.00 160 7.97 132
$2.50 2,040 8.55 603
2,200 8.51 735