Electronic Arts 2004 Annual Report Download - page 99

Information related to stock issuances under these plans is as follows:
Year Ended March 31,
2004 2003 2002
Number of shares purchased ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 866,541 697,896 626,480
Range of purchase prices ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $22.44 to $22.44 to $21.22 to
$38.14 $22.87 $22.52
Estimated weighted-average fair value of purchases ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $9.53 $9.78 $9.44
The fair value above was estimated on the date of grant using the Black-Scholes option-pricing model
assumptions described in Note 1(o) of the Notes to Consolidated Financial Statements. As of March 31,
2004, we had 571,389 shares of Class A common stock reserved for future issuance under the 2000 Class A
Employee Stock Purchase Plan.
(b) Stock Option Plans
Our 2000 Class A Equity Incentive Plan, 1991 Stock Option Plan, 1995 Stock Option Plan, Directors' Stock
Option Plan and 1993 Directors' Stock Option Plan (""Class A Option Plans'') provide options for employees,
oÇcers and directors to purchase the Company's Class A common stock. Pursuant to these Class A Option
Plans, our Board of Directors may grant non-qualiÑed and incentive stock options to employees and oÇcers
and non-qualiÑed options to Directors, at not less than 85 percent of the fair market value on the date of grant,
except for any incentive stock options, which can be granted at not less than the fair market value on the date
of grant. In addition, the 1995 Stock Option Plan and the 2000 Class A Equity Incentive Plan allow for
grants of restricted stock.
At our Annual Meeting of Stockholders, held on July 31, 2003, the stockholders approved an amendment to
amend the 2000 Class A Equity Incentive Plan to increase the number of shares of our Class A common
stock reserved for issuance under the Plan by 11,000,000.
Our 2000 Class B Equity Incentive Plan (""Class B plan'') allows the award of stock options or restricted stock
for up to an aggregate of 6,000,000 shares of Class B common stock. The Class B plan included a provision
for automatic option grants to our outside directors. In February 2003, the Board of Directors amended the
Class B plan to eliminate automatic grants to Directors and to preclude any further awards under the Class B
plan. As of March 31, 2004, there were 200,130 restricted shares issued and no shares available for future
issuance under the Class B plan. See Note 12 of the Notes to Consolidated Financial Statements.
Options under the Class A Option Plans and the Class B plan generally expire ten years from the date of grant
and are generally exercisable as to 24 percent of the shares after 12 months, and then the remainder in
monthly increments over 38 months.
In Ñscal 2001, our Board of Directors approved the Key Partner Class B Equity Incentive Program which
allowed for the issuance of warrants to key business partners to purchase up to 750,000 shares of Class B
common stock. As of March 31, 2002, there were warrants to purchase 121,000 shares of Class B common
stock outstanding under this program. These warrants expire not later than Ñve years from issuance. In
February 2003, we caused a ""Warrant Holder Exchange'' of the warrants to purchase Class B stock and
terminated the program. Accordingly, all of the Class B warrants were exchanged for warrants to
purchase 30,504 shares of Class A common stock, and there are no longer any shares of Class B common
stock allocated for issuance under the program. As of March 31, 2004, there were outstanding warrants to
purchase 10,548 shares of Class A common stock.
We have an equity compensation stock plan which was adopted without stockholder approval, the Celebrity
and Artist Stock Option Plan. The Celebrity and Artist Stock Option Plan was adopted by the Board of
Directors in July 1994 and amended in May 1997, October 1997, September 1998 and July 1999. The terms
under this plan are substantially similar to the terms of the 2000 Class A Equity Incentive Plan. The
Celebrity and Artist Stock Option Plan expires in July 2004.
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