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Table of Contents
EMC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Activity under all stock option plans for the three years ended December 31, 2005 is as follows (shares in thousands):
Number of
Shares
Wtd. Avg.
Exercise
Price
Outstanding, January 1, 2003 177,600 $ 22.56
Options granted relating to business acquisitions 53,804 9.30
Granted 37,132 12.71
Canceled (7,555) 27.83
Exercised (6,407) 6.19
Outstanding, December 31, 2003 254,574 18.56
Options granted relating to business acquisitions 6,559 1.82
Granted 46,402 12.69
Canceled (9,888) 22.53
Exercised (22,306) 6.14
Outstanding, December 31, 2004 275,341 18.02
Options granted relating to business acquisitions 7,985 5.15
Granted 51,442 14.34
Canceled (13,440) 23.14
Exercised (25,078) 6.74
Outstanding, December 31, 2005 296,250 $ 17.78
Summarized information about stock options outstanding at December 31, 2005 is as follows (shares in thousands):
Exercisable
Range of
Exercise Price
Number of Options
Outstanding
Weighted Avg.
Remaining
Contractual Life
Weighted Avg.
Exercise Price
Number of
Options
Weighted Avg.
Exercise Price
$.01-$4.12 9,472 4.7 $ 2.03 8,696 $ 2.04
$4.13-$9.27 54,583 5.8 6.19 35,608 6.11
$9.28-$13.91 125,669 7.2 12.40 59,906 12.10
$13.92-$20.87 59,467 8.6 15.01 10,450 16.96
$20.88-$31.31 1,958 3.3 26.66 1,958 26.66
$31.32-$46.97 25,294 4.7 35.08 19,500 34.61
$46.98-$70.46 5,613 4.2 60.03 5,613 60.03
$70.47-$90.00 14,194 4.7 83.38 13,653 83.31
296,250 6.7 $ 17.78 155,384 $ 21.53
There were 155.4 million, 136.4 million and 111.3 million outstanding options that were exercisable at December 31, 2005, 2004 and 2003,
respectively.
Employee Stock Purchase Plan
Under our 1989 Employee Stock Purchase Plan (the "1989 Plan"), eligible employees may purchase shares of common stock through payroll
deductions, at the lower of 85% of the fair market value of the stock at the time of grant or 85% of the fair market value at the time of exercise. In May 2004,
our stockholders approved an amendment to the 1989 Plan to increase the number of shares available for grant to 98.0 million shares from 73.0 million shares.
Options to purchase shares are granted twice yearly, on January 1 and July 1, and are exercisable on the succeeding June 30 or December 31. Grants for the
last three years are as follows (shares in thousands):
2005
2004
2003
Shares 8,685 9,758 10,155
Weighted average exercise price $ 11.61 $ 9.58 $ 6.69
Weighted average fair value $ 3.97 $ 3.51 $ 2.40