EMC 2009 Annual Report Download - page 81

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Table of Contents
EMC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
EMC Information Infrastructure Stock Options
The following table summarizes our option activity under all equity plans in 2009, 2008 and 2007 (shares in thousands):
Number of
Shares
Weighted Average
Exercise Price
(per share)
Outstanding, January 1, 2007 303,184 $ 17.19
Options granted relating to business acquisitions 921 3.39
Granted 28,777 19.15
Forfeited (9,640) 12.01
Expired (4,321) 38.28
Exercised (68,540) 9.66
Exchanged to VMware awards (11,009) 12.19
Outstanding, December 31, 2007 239,372 19.60
Options granted relating to business acquisitions 1,200 12.43
Granted 36,208 14.95
Forfeited (6,852) 14.43
Expired (7,096) 33.98
Exercised (12,713) 9.34
Outstanding, December 31, 2008 250,119 19.14
Options granted relating to business acquisitions 24,089 5.68
Granted 14,243 15.20
Forfeited (10,178) 14.64
Expired (14,953) 29.35
Exercised (28,402) 8.85
Outstanding, December 31, 2009 234,918 18.31
Exercisable, December 31, 2009 154,191 20.62
Vested and expected to vest 227,398 $ 18.48
At December 31, 2009, the weighted-average remaining contractual term was 3.9 years and the aggregate intrinsic value was $644.4 million for the
154,191 exercisable shares. For the 227,398 shares vested and expected to vest at December 31, 2009, the weighted-average remaining contractual term was
5.3 years and the aggregate intrinsic value was $925.1 million. The intrinsic value is based on our closing stock price of $17.47 as of December 31, 2009,
which would have been received by the option holders had all in-the-money options been exercised as of that date. The total pre-tax intrinsic values of options
exercised in 2009, 2008 and 2007 were $191.6 million, $77.2 million and $587.4 million, respectively. Cash proceeds from the exercise of stock options were
$251.1 million, $118.7 million and $661.6 million in 2009, 2008 and 2007, respectively. Income tax benefits realized from the exercise of stock options in
2009, 2008 and 2007 were $53.6 million, $105.0 million and $160.7 million, respectively.
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