Apple 2005 Annual Report Download - page 89
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 8—Employee Benefit Plans (Continued)
Stock Option Activity
A summary of the Company’s stock option activity and related information for the last three fiscal years follows (share amounts are presented
in thousands):
In conjunction with the amendments to the 2003 Plan that were approved at the Annual Meeting of Shareholders held on April 21, 2005, the
number of shares available for grant under the 2003 Plan will be reduced by two times the number of restricted shares and restricted stock units
granted. This amendment is effective for all grants made after April 21, 2005.
87
Shares
Outstanding Options
Available
Number of
Weighted Average
for Grant
Shares
Exercise Price
Balance at September 28, 2002
13,142
218,860
$
14.09
Restricted Stock Granted
(10,000
)
—
—
Options Granted
(8,358
)
8,358
$
8.19
Options Cancelled
96,886
(96,886
)
$
19.80
Options Exercised
—
(
4,308
)
$
7.02
Plan Shares Expired
(10
)
—
—
Balance at September 27, 2003
91,660
126,024
$
9.54
Restricted Stock Units Granted
(5,030
)
—
—
Options Granted
(36,394
)
36,394
$
11.48
Options Cancelled
6,010
(6,010
)
$
10.35
Options Exercised
—
(
45,686
)
$
8.60
Plan Shares Expired
(32,196
)
—
—
Balance at September 25, 2004
24,050
110,722
$
10.52
Additional Options Authorized
49,000
—
—
Restricted Stock Units Granted
(460
)
—
—
Options Granted
(16,214
)
16,214
$
42.52
Options Cancelled
3,844
(3,844
)
$
13.28
Restricted Stock Units Cancelled
230
—
—
Options Exercised
—
(
49,871
)
$
10.05
Plan Shares Expired
(1,493
)
—
—
Balance at September 24, 2005
58,957
73,221
$
17.79