Equity Compensation Plan Information
Equity Compensation Plan Information
If stockholders approve this proposal, we will add 134 million shares to the 2006 Equity Incentive Plan, for a total of 428 million shares, and extend the plan term to June 30, 2012. Information as of December 27, 2008 regarding equity compensation plans approved and not approved by stockholders is summarized in the following table (shares in millions).
| Plan Category | (A) Number of Shares to Be Issued Upon Exercise of Outstanding Options and Rights (Millions)(1) |
(B) Weighted Average Exercise Price of Outstanding Options ($)(2) |
(C) Number of Shares Remaining Available for Future Issuance Under Equity Incentive Plans (Excluding Shares Reflected in Column A) (Millions) |
|||
|---|---|---|---|---|---|---|
| 2006 Equity Incentive Plan | 173.7(3) | |||||
| 2006 Stock Purchase Plan | 188.0 | |||||
| Equity Incentive Plans Approved by Stockholders | 283.5 | 23.33 | 361.7 | |||
| Equity Incentive Plans Not Approved by Stockholders(4) | 394.8 | 30.12 | — | |||
Total |
678.3(5) | 27.72 | 361.7 |
The 1997 Stock Option Plan (1997 Plan) provided for the grant of stock options to employees other than officers and directors. The 1997 Plan, which was not approved by stockholders, was terminated as to future grants when the 2004 Equity Incentive Plan was approved by stockholders in May 2004. The 1997 Plan is administered by the Board's Compensation Committee, which has the power to determine matters related to outstanding stock option awards under the 1997 Plan, including conditions of vesting and exercise. Stock options granted under the 1997 Plan expire no later than 10 years from the grant date. Stock options granted before 2003 under the 1997 Plan generally vest in five years, and stock options granted under the 1997 Plan in 2003 and 2004 generally vest in increments over four or five years from the date of grant. Grants to key employees may have delayed vesting, generally beginning six years from the date of grant.
