Ingram Micro 1999 Annual Report Download - page 50

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4488
Ingram Micro
Annual Report
and have expiration dates not longer than 10 years. Options granted under the 1996 and 1998 Plans generally vest over a period
of one to five years. In October 1999, the Company also granted a total of 272,250 shares of restricted Class A Common Stock to
certain executives under the 1998 Plan.These shares have no purchase price and vest ratably over a two year period.The Company
recorded unearned compensation of $3,458 as a component of stockholders’ equity.The unearned compensation will be amortized
and charged to operations over the vesting period.
The weighted average fair value per option granted in 1999, 1998 and 1997 for pro forma disclosure was $7.66, $16.54
and $11.34, respectively.
A summary of the status of the Company’s stock option plans is presented below:
Weighted-
Shares Average
(000’s) Exercise Price
Outstanding at December 28, 1996 19,647 $7.30
Stock options granted during the year 1,888 23.22
Stock options exercised (3,085) 2.13
Forfeitures (417) 5.67
Outstanding at January 3, 1998 18,033 9.89
Stock options granted during the year 2,709 32.52
Stock options exercised (4,992) 7.29
Forfeitures (569) 8.12
Outstanding at January 2, 1999 15,181 14.85
Stock options granted during the year 7,833 18.45
Stock options exercised (1,674) 4.42
Forfeitures (2,297) 24.06
Outstanding at January 1, 2000 19,043 $16.90
The following table summarizes information about stock options outstanding and exercisable at January 1, 2000.
Options Outstanding Options Exercisable
Weighted- Weighted-
Number Average Average Number Weighted-
Range of Exercise Outstanding Remaining Outstanding Exercisable at Average
Prices at 1/1/00 (000’s) Life Price 1/1/00 (000’s) Exercise Price
$ 0.68—$ 3.32 2,809 2.7 $2.12 2,429 $2.03
$7.00 2,081 4.3 7.00 883 7.00
$11.13—$14.56 4,679 9.6 12.56 47 13.60
$18.00—$27.00 5,344 5.7 20.05 3,120 18.96
$27.06—$40.38 3,394 6.5 29.75 584 29.56
$40.94—$53.56 736 6.8 46.74 197 46.82
19,043 $16.90 7,260 $13.42
Stock options exercisable totaled approximately 7,260,184, 4,717,000 and 3,004,000 at January 1, 2000, January 2, 1999,
and January 3, 1998, respectively, at weighted average exercise prices of $13.42, $10.29, and $3.49, respectively.
continued
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Dollars in 000s, except per share data