Seagate 2009 Annual Report Download - page 113

Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table sets forth information with respect to repurchases of the Company's shares made during fiscal year 2010:
January 2010 Anti-Dilution Share Repurchase Program
10. Compensation
Tax-Deferred Savings Plan
The Company has a tax-deferred savings plan, the Seagate 401(k) Plan (the "40l(k) plan"), for the benefit of qualified employees. The 40l
(k) plan is designed to provide employees with an accumulation of funds at retirement. Qualified employees may elect to make contributions to
the 401(k) plan on a monthly basis. Pursuant to the 401(k) plan, the Company matches 50% of employee contributions, up to 6% of
compensation, subject to maximum annual contributions of $3,500 per participating employee. During fiscal years 2010, 2009 and 2008, the
Company made matching contributions of $12 million, $13 million and $15 million, respectively.
Stock-Based Benefit Plans
The Company's stock-based benefit plans have been established to promote the Company's long-term growth and financial success by
providing incentives to its employees, directors, and consultants through grants of share-based awards. The provisions of the Company's stock-
based benefit plans, which allow for the grant of various types of equity-
based awards, are also intended to provide greater flexibility to maintain
the Company's competitive ability to attract, retain and motivate participants for the benefit of the Company and its shareholders.
Seagate Technology 2001 Share Option Plan (the "SOP") —In December 2000, the Company's board of directors adopted the 2001 Share
Option Plan. Under the terms of the SOP, eligible employees, directors, and consultants can be awarded options to purchase common shares of
the Company under vesting terms to be determined at the date of grant. A maximum of 100 million common shares is issuable under the SOP.
Options granted to employees generally vest as follows: 25% of the shares on the first anniversary of the vesting commencement date and the
remaining 75% proportionately each month over the next 36 months. Options granted under the SOP were granted at fair market value, with
options granted up through September 5, 2004 expiring ten years from the date of grant and options granted subsequent to
106
(In millions, except average price paid per
share)
Total
Number of
Shares
Purchased
Average Price
Paid per
Share
Total Number of
Shares Purchased
Under Publicly
Announced Plans
or Programs
Approximate
Dollar Value
of Shares
Purchased Under
the Plans
or Programs
January 2, 2010 through
January 29, 2010
—
$
—
—
$
—
January 30, 2010 through
February 26, 2010
13.5
18.53
13.5
251
February 27, 2010 through April 2,
2010
—
—
—
—
Through 3rd Quarter of Fiscal Year
2010
13.5
$
18.53
13.5
$
251
April 3, 2010 through April 30,
2010
1.5
19.22
1.5
29
May 1, 2010 through May 28, 2010
17.4
17.52
17.4
304
May 29, 2010 through July 2, 2010
—
—
—
—
Total Through 4th Quarter of Fiscal
Year 2010
32.4
$
18.02
32.4
$
584