WebEx 2002 Annual Report Download - page 49

WEBEX COMMUNICATIONS, INC.
December 31, 2002, 2001 and 2000
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands except share and per share amounts)
non-qualified stock options granted to employees under these plans generally expire after 10 years or earlier in
the case of termination or death and generally vest over four years (one year cliff for 25% of the shares and
2.08% monthly thereafter). The 1998 Stock Option Plan allowed for the early exercise of unvested stock options
with the restricted common stock issued subject to a repurchase right by the Company that lapses in accordance
with the original vesting. As of December 31, 2002, there were a total of 375,567 restricted common shares
outstanding subject to repurchase at a weighted average repurchase price per share of $0.90. As of December 31,
2002, there were a total of 4,282,800 shares available for issuance under the 2000 Stock Incentive Plan and no
shares under the 1998 Stock Option Plan.
Webex also administers the 2000 Employee Stock Purchase Plan, which along with the 2000 Stock Incentive
Plan was approved by the stockholders on June 17, 2000. A total of 2,737,398 shares of common stock have been
reserved for issuance under this plan. This plan allows eligible employees to purchase common stock at 85% of
the lower of the fair value of common stock on either the first day or last day of a defined participation period not
to exceed 24 months. As of December 31, 2002, 1,872,722 shares are available for issuance under this plan.
A summary of the options activity under the 1998 and 2000 stock option plans for the years ended
December 31, 2002, 2001 and 2000, is as follows:
2002 2001 2000
Number of
Shares
Weighted
Average
Exercise
Price
Number of
Shares
Weighted
Average
Exercise
Price
Number of
Shares
Weighted
Average
Exercise
Price
Outstanding at beginning of year ....... 7,160,472 $15.21 4,685,724 $ 9.84 4,675,775 $0.30
Granted ........................... 4,145,407 15.17 4,096,538 19.03 6,247,200 8.03
Exercised .......................... (775,401) 6.29 (817,394) 3.80 (5,994,054) 0.66
Canceled .......................... (1,182,682) 17.10 (804,596) 14.94 (243,947) 6.27
Outstanding at end of year ............ 9,347,796 15.70 7,160,472 15.21 4,685,724 9.84
Options vested at end of year .......... 2,700,762 $15.51 1,370,746 $12.07 452,392 $2.06
As of December 31, 2002 the exercise prices and the weighted average remaining contractual life of
outstanding options were as follows:
Options Outstanding Options Vested
Range of
Exercise Prices
Number
Outstanding
Weighted-Average
Remaining
Contractual
Life (Years)
Weighted-
Average
Exercise
Price
Number
Vested
Weighted-
Average
Exercise
Price
$ 0.05 to $ 0.50 421,699 6.61 $ 0.38 157,071 $ 0.44
$ 1.05 to $ 3.00 506,568 7.19 2.25 314,126 2.02
$ 6.00 to $ 9.73 756,570 7.86 7.47 320,563 8.15
$10.00 to $12.01 1,230,444 8.02 10.62 647,767 10.62
$12.03 to $20.09 4,150,846 9.13 17.13 357,695 16.31
$20.72 to $25.58 1,431,350 8.10 22.84 551,286 22.48
$26.10 to $34.06 629,041 8.59 29.88 228,320 29.23
$34.75 to $55.38 221,278 7.76 42.98 123,934 43.03
9,347,796 7.95 $15.70 2,700,762 $15.51
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