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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 2010, 2009 and 2008 (shares in thousands):
Number of
Shares
Weighted Average
Exercise Price
(per share)
Outstanding, January 1, 2008 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
Options granted relating to business acquisitions 12,595 5.57
Granted 3,286 20.07
Forfeited (6,632) 14.36
Expired (14,970) 70.59
Exercised (56,781) 11.63
Outstanding, December 31, 2010 172,416 15.23
Exercisable, December 31, 2010 112,727 16.37
Vested and expected to vest 166,520 $ 15.37
At December 31, 2010, the weighted-average remaining contractual term was 3.9 years and the aggregate intrinsic value was $979.2 million for the
112.7 million exercisable shares. For the 166.5 million shares vested and expected to vest at December 31, 2010, the weighted-average remaining contractual
term was 5.2 years and the aggregate intrinsic value was $1,498.1 million. The intrinsic value is based on our closing stock price of $22.90 as of
December 31, 2010, 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 2010, 2009 and 2008 were $470.2 million, $191.6 million and $77.2 million, respectively. Cash proceeds from the
exercise of stock options were $660.0 million, $251.1 million and $118.7 million in 2010, 2009 and 2008, respectively. Income tax benefits realized from the
exercise of stock options in 2010, 2009 and 2008 were $75.3 million, $30.9 million and $20.5 million, respectively.
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