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This excerpt taken from the INFY 6-K filed Jul 28, 2005. 1999 Plan |
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| 13-25 | 7,996,827 | 4.3 | $ | 19 | 4,460,307 | $ | 21 | |||||||||
| 26-50 | 5,165,494 | 3.5 | $ | 36 | 4,986,974 | $ | 36 | |||||||||
| 51-70 | 68,800 | 2.7 | $ | 54 | 68,800 | $ | 54 | |||||||||
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| 13,231,121 | 9,516,081 | |||||||||||||||
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Progeon’s 2002 Plan provides for the grant of stock options to its employees and was approved by its board of directors and stockholders in June 2002. All options under the 2002 Plan are exercisable for equity shares. The 2002 Plan is administered by a Compensation Committee comprising three members, all of whom are directors of Progeon. The 2002 Plan provides for the issue of 5,250,000 equity shares to employees, at an exercise price, which shall not be less than the FMV. Options may also be issued to employees at exercise prices that are less than FMV only if specifically approved by the members of Progeon in general meeting. The options issued under the 2002 Plan vest in periods ranging between one through six years, although accelerated vesting based on performance conditions is provided in certain instances. All options granted have been accounted for as a fixed plan. The activity in Progeon’s 2002 Plan during the three months ended June 30, 2004 and 2005 are set out below. |
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