SanDisk 2005 Annual Report Download - page 137

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A summary of activity under all stock incentive plans follows (shares in thousands):
Total Available
for Future
Grant/Issuance
Total
Outstanding
Weighted
Average
Exercise Price
Balance at December 29, 2002 ................... 15,462 19,262 $10.69
Granted . . . ............................... (6,088) 6,088 $11.76
Automatic share increase...................... 6,307 — —
Exercised . . ............................... — (5,472) $ 9.45
Canceled . . ............................... 481 (481) $17.13
Balance at December 28, 2003 ................... 16,162 19,397 $11.21
Granted . . . ............................... (6,617) 6,617 $31.58
Automatic share increase...................... 7,337 — —
Exercised . . ............................... — (2,301) $ 8.21
Canceled . . ............................... 1,057 (1,057) $20.93
Balance at January 2, 2005 ...................... 17,939 22,656 $17.02
Granted . . . ............................... (6,472) 6,472 $28.37
Automatic share increase...................... 8,206 — —
1995 Plan termination ........................ (22,106) — —
Initial reserve under 2005 plan ................. 5,700 — —
Exercised . . ............................... — (7,937) $13.75
Canceled . . ............................... 1,157 (767) $24.37
Balance at January 1, 2006 ...................... 4,424 20,424 $21.57
At January 1, 2006, options outstanding were as follows:
Range of Exercise
Prices
Number
Outstanding as of
January 1,
2006
Weighted
Average
Remaining
Contractual Life
Weighted
Average
Exercise Price
Number
Exercisable as of
January 1,
2006
Weighted
Average
Exercise Price
Options Outstanding Options Exercisable
$ 1.64 - $ 6.41 .... 3,116,635 5.11 $ 5.22 2,857,492 $ 5.12
$ 6.45 - $ 8.87 .... 3,097,417 6.96 $ 8.73 1,684,816 $ 8.71
$ 8.93 - $17.19 .... 1,223,369 5.00 $15.40 1,167,652 $15.57
$17.22 - $22.90 .... 1,972,277 6.04 $19.31 1,412,866 $18.88
$22.95 - $28.09 .... 5,438,073 8.81 $24.47 113,066 $25.67
$28.18 - $34.72 .... 4,033,374 7.93 $34.20 1,444,981 $33.91
$35.03 - $44.32 .... 659,823 6.41 $39.71 204,080 $37.07
$44.79 - $69.75 .... 777,880 6.47 $52.56 111,250 $54.81
$ 1.64 - $69.75 .... 20,318,848 7.12 $21.57 8,996,203 $15.53
1995 and 2005 Employee Stock Purchase Plans. The 2005 Employee Stock Purchase Plan was approved by
the stockholders on May 27, 2005 as the successor to the Company’s 1995 Employee Stock Purchase Plan. The final
offering period under the 1995 plan ended on July 29, 2005, and the first offering period under the 2005 plan began
on August 1, 2005. Both plans consist of two components: a component for employees residing in the United States
and an international component for employees who are non-U.S. residents. 7,382,594 shares were reserved for
issuance under the 1995 plan, and 5,000,000 shares are reserved for issuance under the 2005 plan. Each plan allows
eligible employees to purchase shares of the Company’s common stock at the end of each six-month offering period
F-18
Notes to Consolidated Financial Statements — (Continued)