Seagate 2009 Annual Report Download - page 116
Download and view the complete annual report
Please find page 116 of the 2009 Seagate annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106 -
107 -
108 -
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
-
241
-
242
-
243
-
244
-
245
-
246
-
247
-
248
-
249
-
250
-
251
-
252
 |
 |
Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Stock Option Activity
The Company issues new common shares upon exercise of stock options. The following is a summary of option activities:
The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the
Company's common shares for the options that were in-the-money at July 2, 2010. During fiscal years 2010, 2009 and 2008, the aggregate
intrinsic value of options exercised under the Company's stock option plans was $41 million, $12 million and $155 million, respectively,
determined as of the date of option exercise. The aggregate fair value of options vested during fiscal year 2010 was approximately $53 million.
At July 2, 2010 the total compensation cost related to options granted to employees but not yet recognized was approximately $46 million,
net of estimated forfeitures of approximately $2 million. This cost is being amortized on a straight-line basis over a weighted-average remaining
term of approximately 1.8 years and will be adjusted for subsequent changes in estimated forfeitures.
Nonvested Share Activity
The following is a summary of nonvested share activities:
At July 2, 2010, the total compensation cost related to nonvested shares granted to employees but not yet recognized was approximately
$9 million, net of estimated forfeitures of approximately $1 million. This cost is being amortized on a straight-line basis over a weighted-
average
remaining term of 2.3 years and
109
Options Number of
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
(In millions)
(In years)
(Dollars in millions)
Outstanding at July 3, 2009
67.4
$
13.03
4.7
$
181
Granted
0.3
14.78
Exercised
(6.2
)
9.94
Forfeitures
(3.3
)
15.83
Expirations
(3.6
)
20.40
Outstanding at July 2, 2010
54.6
$
12.73
3.9
$
232
Vested and expected to vest at July 2,
2010
52.0
$
13.07
3.9
$
211
Exercisable at July 2, 2010
31.1
$
15.92
2.9
$
70
Nonvested Shares
Number of
Shares
Weighted
-
Average
Grant-
Date
Fair Value
(In millions)
Nonvested at July 3, 2009
1.4
$
13.91
Granted
0.1
$
15.47
Forfeitures
(0.2
)
$
13.59
Vested
(0.4
)
$
14.66
Nonvested at July 2, 2010
0.9
$
13.77