Seagate 2010 Annual Report Download - page 109

Table of Contents
SEAGATE TECHNOLOGY PLC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following tables set forth information with respect to repurchases of the Company's shares made during fiscal year 2011:
January 2010 Anti-Dilution Share Repurchase Program
November 2010 Share Repurchase Program
10. Compensation
Stock-Based Compensation Plans
The Company's stock-based compensation 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 plc 2001 Share Option Plan (the "SOP"). A maximum of 100 million ordinary shares are issuable under the SOP.
Options granted to employees generally vest as follows: 25% of the options 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 September 5, 2004
expiring seven years from the date of grant. The SOP expired on February 1, 2011, and no shares have been granted from the SOP subsequent to
that date.
Seagate Technology plc 2004 Share Compensation Plan (the "SCP"). A maximum of 63.5 million ordinary shares are issuable under the
SCP, including 10 million authorized for issuance of share awards and restricted units. Share awards and restricted units granted to employees
generally vest 25% annually. Options granted to employees generally vest as follows: 25% of the options 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 SCP were granted
at fair market value. As of July 1, 2011, there were approximately 15.8 million ordinary shares available for issuance under the SCP.
102
(In millions)
Number of
Shares
Repurchased
Dollar Value
of Shares
Repurchased
Cumulative repurchased from
February 1, 2010 through July 2,
2010
32.4
$
584
Repurchased in fiscal year 2011
20.7
305
Cumulative repurchased through
July 1, 2011
53.1
$
889
(In millions)
Number of
Shares
Repurchased
Dollar Value
of Shares
Repurchased
Repurchased in fiscal year 2011
36.2
$
517
Cumulative repurchased through
July 1, 2011
36.2
$
517