CY » Topics » NOTE 8. EMPLOYEE STOCK PLANS AND STOCK-BASED COMPENSATION

These excerpts taken from the CY 10-K filed Feb 26, 2009.

NOTE 8. EMPLOYEE STOCK PLANS AND STOCK-BASED COMPENSATION

The Company currently has the following employee stock plans:

1999 Stock Option Plan (“1999 Plan”):

In fiscal 1999, Cypress adopted the 1999 Plan. Under the terms of the 1999 Plan, which is a non-shareholder approved plan, stock options may be granted to qualified employees, including those of acquired companies and consultants of Cypress or its subsidiaries, but stock options may not be granted to executive officers or directors. Stock options become exercisable over a vesting period as determined by the Board of Directors and expire over terms not exceeding ten years from the date of grant. As of December 28, 2008, approximately 3.5 million shares were available for grant under the 1999 Plan. The 1999 Plan will expire in March 2009 and any unissued grants will become unavailable for future grant.

 

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1994 Amended Stock Option Plan (“1994 Amended Plan”):

In fiscal 1994, the Company adopted, and in fiscal 2004 amended, the 1994 Stock Option Plan, which is a shareholder-approved plan. Under the terms of the 1994 Amended Plan, stock options, restricted stock units, restricted stock awards and stock appreciation rights may be granted to qualified employees, consultants, officers and directors of Cypress or its subsidiaries. Awards become exercisable over a vesting period as determined by the Board of Directors and expire over terms not exceeding ten years from the date of grant for awards granted prior to May 2008, and eight years from the date of grant for awards granted after May 2008. As of December 28, 2008, approximately 8.3 million shares of stock options or 4.4 million shares of restricted stock units and restricted stock awards were available for grant under the 1994 Amended Plan. The 1994 Amended Plan will expire in April 2014.

Employee Stock Purchase Plan (“ESPP”):

Cypress’s ESPP allows eligible employees to purchase shares of Cypress’ common stock through payroll deductions. The ESPP contains consecutive 18-month offering periods composed of three six-month exercise periods. The shares can be purchased at the lower of 85% of the fair market value of the common stock at the date of commencement of the offering period or at the last day of each six-month exercise period. Purchases are limited to 10% of an employee’s eligible compensation, subject to a maximum annual employee contribution limit of $25,000. As of December 28, 2008, approximately 8.2 million shares were available for future issuance under the ESPP. The ESPP will expire in May 2013.

NOTE 8. EMPLOYEE STOCK PLANS AND STOCK-BASED COMPENSATION

The Company currently has the following employee stock plans:

1999 Stock Option Plan (“1999 Plan”):

In fiscal 1999, Cypress adopted the 1999 Plan. Under the terms of the 1999 Plan, which is a non-shareholder approved plan, stock options may be granted to qualified employees, including those of acquired companies and consultants of Cypress or its subsidiaries, but stock options may not be granted to executive officers or directors. Stock options become exercisable over a vesting period as determined by the Board of Directors and expire over terms not exceeding ten years from the date of grant. As of December 28, 2008, approximately 3.5 million shares were available for grant under the 1999 Plan. The 1999 Plan will expire in March 2009 and any unissued grants will become unavailable for future grant.

 

89


Table of Contents

1994 Amended Stock Option Plan (“1994 Amended Plan”):

In fiscal 1994, the Company adopted, and in fiscal 2004 amended, the 1994 Stock Option Plan, which is a shareholder-approved plan. Under the terms of the 1994 Amended Plan, stock options, restricted stock units, restricted stock awards and stock appreciation rights may be granted to qualified employees, consultants, officers and directors of Cypress or its subsidiaries. Awards become exercisable over a vesting period as determined by the Board of Directors and expire over terms not exceeding ten years from the date of grant for awards granted prior to May 2008, and eight years from the date of grant for awards granted after May 2008. As of December 28, 2008, approximately 8.3 million shares of stock options or 4.4 million shares of restricted stock units and restricted stock awards were available for grant under the 1994 Amended Plan. The 1994 Amended Plan will expire in April 2014.

Employee Stock Purchase Plan (“ESPP”):

Cypress’s ESPP allows eligible employees to purchase shares of Cypress’ common stock through payroll deductions. The ESPP contains consecutive 18-month offering periods composed of three six-month exercise periods. The shares can be purchased at the lower of 85% of the fair market value of the common stock at the date of commencement of the offering period or at the last day of each six-month exercise period. Purchases are limited to 10% of an employee’s eligible compensation, subject to a maximum annual employee contribution limit of $25,000. As of December 28, 2008, approximately 8.2 million shares were available for future issuance under the ESPP. The ESPP will expire in May 2013.

NOTE 8. EMPLOYEE STOCK PLANS AND STOCK-BASED COMPENSATION

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">The Company currently has the following employee stock plans:

SIZE="2">1999 Stock Option Plan (“1999 Plan”):

In fiscal 1999, Cypress adopted the 1999 Plan. Under the terms of the 1999
Plan, which is a non-shareholder approved plan, stock options may be granted to qualified employees, including those of acquired companies and consultants of Cypress or its subsidiaries, but stock options may not be granted to executive officers or
directors. Stock options become exercisable over a vesting period as determined by the Board of Directors and expire over terms not exceeding ten years from the date of grant. As of December 28, 2008, approximately 3.5 million shares were
available for grant under the 1999 Plan. The 1999 Plan will expire in March 2009 and any unissued grants will become unavailable for future grant.

 


89







Table of Contents


1994 Amended Stock Option Plan (“1994 Amended Plan”):

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">In fiscal 1994, the Company adopted, and in fiscal 2004 amended, the 1994 Stock Option Plan, which is a shareholder-approved plan. Under the terms of the
1994 Amended Plan, stock options, restricted stock units, restricted stock awards and stock appreciation rights may be granted to qualified employees, consultants, officers and directors of Cypress or its subsidiaries. Awards become exercisable over
a vesting period as determined by the Board of Directors and expire over terms not exceeding ten years from the date of grant for awards granted prior to May 2008, and eight years from the date of grant for awards granted after May 2008. As of
December 28, 2008, approximately 8.3 million shares of stock options or 4.4 million shares of restricted stock units and restricted stock awards were available for grant under the 1994 Amended Plan. The 1994 Amended Plan will expire
in April 2014.

Employee Stock Purchase Plan (“ESPP”):

FACE="Times New Roman" SIZE="2">Cypress’s ESPP allows eligible employees to purchase shares of Cypress’ common stock through payroll deductions. The ESPP contains consecutive 18-month offering periods composed of three six-month exercise
periods. The shares can be purchased at the lower of 85% of the fair market value of the common stock at the date of commencement of the offering period or at the last day of each six-month exercise period. Purchases are limited to 10% of an
employee’s eligible compensation, subject to a maximum annual employee contribution limit of $25,000. As of December 28, 2008, approximately 8.2 million shares were available for future issuance under the ESPP. The ESPP will expire in
May 2013.

NOTE 8. EMPLOYEE STOCK PLANS AND STOCK-BASED COMPENSATION

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">The Company currently has the following employee stock plans:

SIZE="2">1999 Stock Option Plan (“1999 Plan”):

In fiscal 1999, Cypress adopted the 1999 Plan. Under the terms of the 1999
Plan, which is a non-shareholder approved plan, stock options may be granted to qualified employees, including those of acquired companies and consultants of Cypress or its subsidiaries, but stock options may not be granted to executive officers or
directors. Stock options become exercisable over a vesting period as determined by the Board of Directors and expire over terms not exceeding ten years from the date of grant. As of December 28, 2008, approximately 3.5 million shares were
available for grant under the 1999 Plan. The 1999 Plan will expire in March 2009 and any unissued grants will become unavailable for future grant.

 


89







Table of Contents


1994 Amended Stock Option Plan (“1994 Amended Plan”):

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">In fiscal 1994, the Company adopted, and in fiscal 2004 amended, the 1994 Stock Option Plan, which is a shareholder-approved plan. Under the terms of the
1994 Amended Plan, stock options, restricted stock units, restricted stock awards and stock appreciation rights may be granted to qualified employees, consultants, officers and directors of Cypress or its subsidiaries. Awards become exercisable over
a vesting period as determined by the Board of Directors and expire over terms not exceeding ten years from the date of grant for awards granted prior to May 2008, and eight years from the date of grant for awards granted after May 2008. As of
December 28, 2008, approximately 8.3 million shares of stock options or 4.4 million shares of restricted stock units and restricted stock awards were available for grant under the 1994 Amended Plan. The 1994 Amended Plan will expire
in April 2014.

Employee Stock Purchase Plan (“ESPP”):

FACE="Times New Roman" SIZE="2">Cypress’s ESPP allows eligible employees to purchase shares of Cypress’ common stock through payroll deductions. The ESPP contains consecutive 18-month offering periods composed of three six-month exercise
periods. The shares can be purchased at the lower of 85% of the fair market value of the common stock at the date of commencement of the offering period or at the last day of each six-month exercise period. Purchases are limited to 10% of an
employee’s eligible compensation, subject to a maximum annual employee contribution limit of $25,000. As of December 28, 2008, approximately 8.2 million shares were available for future issuance under the ESPP. The ESPP will expire in
May 2013.

EXCERPTS ON THIS PAGE:

10-K (4 sections)
Feb 26, 2009
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