Plantronics 2002 Annual Report Download - page 49

Significant option groups outstanding at March 31, 2002, and related weighted average
prices and lives are as follows:
Opt io n s Out stan d in g Opt ion s Exerc i s a b l e
N u m b e r W e i g h t e d N u m b e r
O u t s t a n d i n g A v e r a g e We igh ted E x e r c i s a b l e W e i g h t e d
Range o f as of R e m a i n i n g Averag e as of A verag e
E x e rcise Pri ce M a rch 3 1, 200 2 Co nt ract ual Life E x e rcise Price M a r ch 3 1 , 20 02 E x e r cise Price
$0 . 3 0 - $ 1 1 . 5 0 2 , 0 7 2 , 1 6 6 3 . 6 7 $ 5 . 0 0 2 , 0 7 2 , 1 6 6 $ 5 . 0 0
1 2 . 1 3 - 1 7 . 4 9 2 , 2 8 3 , 7 9 0 8 . 0 3 1 6 . 1 5 8 0 2 , 4 2 5 1 4 . 0 0
1 7 . 8 9 - 2 1 . 7 5 2 , 5 2 1 , 6 7 1 7 . 8 9 2 0 . 8 5 1 , 0 7 8 , 8 7 3 2 0 . 7 1
2 1 . 8 8 - 3 5 . 4 6 2 , 6 4 7 , 9 0 7 8 . 1 4 2 7 . 7 4 9 7 8 , 3 8 1 2 7 . 0 0
3 6 . 0 0 - 5 5 . 1 3 4 4 8 , 1 3 2 8 . 4 9 4 0 . 9 6 1 3 5 , 3 1 5 4 1 . 0 1
$0 . 3 0 - $ 5 5 . 1 3 9 , 9 7 3 , 6 6 6 7 . 1 4 $ 1 9 . 2 1 5 , 0 6 7 , 1 6 0 $ 1 4 . 9 8
E mployee Stock Purchase Plan. On April 23, 1996, the Board of Directors of Plantronics
approved the 1996 Employee Stock Purchase Plan (the “ESPP”), which was approved by
the stockholders on August 6, 1996, to provide certain employees with an opportunity to
purchase Common Stock through payroll deductions. T he plan is a qualified plan under
applicable IRS guidelines and certain highly compensated employees are excluded from
participation. Under the ESPP plan effective through August 1999, the purchase price of
the Common Stock was equal to 95% of the market price of the Common Stock immediately
before the beginning of the applicable participation period and there was a six month
holding period requirement for stock purchased. Under the ESPP plan effective beginning
September 1999, the purchase price of the Common Stock is equal to 85% of the market
price of the Common Stock immediately before the beginning of the applicable participation
period and there is no required holding period. Each participation period is six months long.
T here were 38,193, 25,443, and 41,889 shares issued under the ESPP in fiscal 2000,
2001, and 2002, respectively.
Senior Executive Stock Ownership Plan. In November 1996, the Board of Directors
approved a Senior Executive Stock Purchase Plan, effective January 1, 1997, to encourage
ownership of our Common Stock by senior executives. T his is a voluntary plan in which
executives are encouraged to participate and achieve a target ownership over a five-year
period in annual increments of 20% of target or more. T he target ownership is equal to
two times the Chief Executive Off i c e r ’s base salary and one times the individual Vi c e
Presidents’ base salary. To encourage participation, we will sell our Treasury Stock to
executives under this voluntary purchase program. T he price will be equal to the greater
of: 95% of the price set by the Board of Directors on an annual basis or 85% of the fair
market value of the stock on the date of transaction. T he various vehicles that are available t o
executives to obtain ownership of Plantronics’ stock are as follows: 401(k) Plan contributions,
personal IRA account purchases, Deferred Compensation Plan contributions, outright
purchase of stock or exercising and holding vested stock options. T he discounted price
is not applicable to exercising and holding of vested stock options.
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