Symantec 2007 Annual Report Download - page 110

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Stock option activity
The following table summarizes our stock option plans as of March 31, 2006 and 2005 and the activity for the
years ended on those dates.
Number of
Shares
Weighted-
Average
Exercise Price
Number of
Shares
Weighted-
Average
Exercise Price
2006 2005
Year Ended March 31,
(In thousands, except per share amounts)
Outstanding, beginning of year ........... 68,773 $12.08 79,542 $ 8.36
Granted and assumed in acquisitions ....... 85,858 21.27 14,496 24.06
Exercised ........................... (17,152) 9.50 (21,132) 6.13
Cancelled ........................... (14,456) 22.51 (4,133) 12.92
Outstanding, end of year ................ 123,023 17.72 68,773 12.08
Exercisable, end of year ................ 83,213 $17.04 35,663 $ 7.48
The following table summarizes stock option activity for the year ended March 31, 2007.
Number of
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
(1)
(In thousands)
Outstanding at April 1, 2006 ................. 123,023 $17.72
Granted ................................ 17,836 17.19
Exercised ............................... (15,953) 9.86
Forfeited
(2)
.............................. (7,471) 19.26
Expired
(3)
............................... (10,117) 26.14
Outstanding at March 31, 2007 ............... 107,318 $17.90 5.44 $317,544
Exercisable at March 31, 2007 ............... 73,763 $17.50 5.14 $292,000
Vested and expected to vest at March 31, 2007 . . . 101,627 $17.85 5.40 $314,011
(1)
Intrinsic value is calculated as the difference between the market value of Symantec’s common stock as of
March 31, 2007 and the exercise price of the option. The aggregate intrinsic value of options outstanding and
exercisable includes options with an exercise price below $17.30, the closing price of our common stock on
March 31, 2007, as reported by the NASDAQ Global Select Market.
(2)
Refers to options cancelled before their vest dates.
(3)
Refers to options cancelled on or after their vest dates.
The weighted-average fair value per share of options granted during fiscal 2007, 2006 and 2005 was $5.06,
$7.81 and $15.46, respectively. The total intrinsic value of options exercised during fiscal 2007, 2006 and 2005 was
$142 million, $175 million and $390 million, respectively.
104
SYMANTEC CORPORATION
Notes to Consolidated Financial Statements — (Continued)