EMC 2007 Annual Report Download - page 96

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EMC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
The total pre-tax intrinsic values of options exercised in 2007, 2006 and 2005 were $587.4 million, $151.6 million and $174.0 million, respectively. Cash
proceeds from the exercise of stock options were $661.6 million, $150.2 million and $162.4 million in 2007, 2006 and 2005, respectively. Income tax benefits
realized from the exercise of stock options in 2007, 2006 and 2005 were $160.7 million, $47.5 million and $52.3 million, respectively.
Summarized information about stock options outstanding that are expected to vest and stock options exercisable at December 31, 2007 is as follows
(options and intrinsic values in thousands):
Options Outstanding and Expected to Vest Options Exercisable
Range of
Exercise Price
Number of
Options
Weighted Avg.
Remaining
Contractual Life
Weighted Avg.
Exercise Price
Aggregate
Intrinsic
Value
Number of
Options
Weighted Avg.
Remaining
Contractual Life
Weighted Avg.
Exercise Price
Aggregate
Intrinsic
Value
$0.01-$5.00 5,054 4.51 $ 2.87 $ 79,146 3,482 3.70 $ 2.84 $ 54,632
$5.01-$10.00 35,822 6.21 7.60 391,534 22,518 5.00 6.54 269,990
$10.01-$15.00 110,282 6.04 13.07 602,140 69,344 5.31 12.73 402,195
$15.01-$20.00 29,013 8.24 18.56 11,500 7,273 3.35 17.19 8,746
$20.01-$30.00 3,012 5.95 25.74 — 1,416 1.56 26.18 —
$30.01-$50.00 22,361 2.72 35.08 — 22,361 2.72 35.08 —
$50.01-$70.00 5,013 2.22 60.12 — 5,013 2.22 60.12 —
$70.01-$90.00 12,384 2.70 83.29 — 12,384 2.70 83.29 —
222,941 5.71 20.01 $1,084,320 143,791 4.35 23.09 $735,563
Expected forfeitures 16,431
Total options outstanding 239,372
The aggregate intrinsic values in the preceding table represent the total pre-tax intrinsic values based on our closing stock price of $18.53 as of
December 31, 2007 which would have been received by the option holders had all in-the-money options been exercised as of that date.
EMC Restricted Stock and Restricted Stock Units
The following tables summarize our restricted stock and restricted stock unit activity in 2007, 2006 and 2005 (shares in thousands):
Number of
Shares
Weighted Average
Grant Date
Fair Value
Restricted stock and restricted stock units at January 1, 2005 6,903 $ 12.76
Granted 20,191 14.06
Vested (1,492) 12.78
Forfeited (311) 13.21
Outstanding, December 31, 2005 25,291 13.79
Granted 8,392 11.40
Vested (4,538) 13.24
Forfeited (1,244) 9.36
Outstanding, December 31, 2006 27,901 13.05
Granted 9,358 19.05
Vested (7,158) 13.17
Forfeited (1,237) 13.16
Exchanged to VMware awards (4,697) 13.14
Restricted stock and restricted stock units at December 31, 2007 24,167 $ 15.30
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