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WDC » Topics » Option/SAR Grants in Last Fiscal Year

This excerpt taken from the WDC DEF 14A filed Dec 15, 2006.
Option/SAR Grants in Last Fiscal Year
 
The following table sets forth information regarding stock options to purchase shares of our common stock granted to the Named Executive Officers during fiscal 2006 and the potential realizable value at certain assumed rates of stock price appreciation for the option term. These assumed rates are in accordance with the rules of the Securities and Exchange Commission and do not represent our estimate of future stock price. Actual gains, if any, on stock option exercises will be dependent on the future performance of our common stock.
 
                                                 
    Individual Grants           Potential Realizable
 		 
    Number of
 		    % of Total
 		                Value at Assumed
 		 
    Securities
 		    Options/SARs*
 		    Exercise
 		          Annual Rates of Stock
 		 
    Underlying
 		    Granted to
 		    or Base
 		          Price Appreciation for
 		 
    Options/SARs*
 		    Employees in
 		    Price
 		    Expiration
 		    Option Term  
Name
  Granted(1)     Fiscal Year     ($/Sh)     Date     5% ($)     10% ($)  
 
Matthew E. Massengill
    —       —       —       —       —       —  
Arif Shakeel
    —       —       —       —       —       —  
John F. Coyne
    65,000       5.51       20.13       5/11/2016       822,877       2,085,332  
      250,000       21.17       13.76       11/17/2015       2,163,398       5,482,474  
Raymond M. Bukaty
    —       —       —               —       —  
Hossein M. Moghadam
    14,017       1.19       23.97       2/16/2016       211,301       535,478  
Stephen D. Milligan
    —       —       —       —       —       —  
 
 
*  We have not historically granted Stock Appreciation Rights.
 
(1) All of these options to purchase shares of our common stock were granted under our 2004 Performance Incentive Plan and were granted at fair market value on the date of grant. Options become exercisable as to 25% of the total number of shares granted on the first anniversary of the grant date and 6.25% at the end of each three-month period thereafter, except that the option grant to Mr. Coyne covering 250,000 shares of our common stock vests in three equal annual installments beginning on the first anniversary of the grant date. All options have a term of 10 years, subject to earlier termination in connection with termination of employment. The Compensation Committee administers the 2004 Performance Incentive Plan and has broad discretion and authority to construe and interpret the plan.


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Table of Contents

This excerpt taken from the WDC 10-K filed Nov 20, 2006.
Option/SAR Grants in Last Fiscal Year
 
The following table sets forth information regarding stock options to purchase shares of our common stock granted to the Named Executive Officers during fiscal 2006 and the potential realizable value at certain assumed rates of stock price appreciation for the option term. These assumed rates are in accordance with the rules of the Securities and Exchange Commission and do not represent our estimate of future stock price. Actual gains, if any, on stock option exercises will be dependent on the future performance of our common stock.
 
                                                 
    Individual Grants                 Potential Realizable
 		 
    Number of
 		    % of Total
 		                Value at Assumed
 		 
    Securities
 		    Options/SARs*
 		                Annual Rates of Stock
 		 
    Underlying
 		    Granted to
 		    Exercise
 		          Price Appreciation for
 		 
    Options/SARs*
 		    Employees in
 		    or Base
 		    Expiration
 		    Option Term  
Name
  Granted(1)     Fiscal Year     Price ($/Sh)     Date     5% ($)     10% ($)  
 
Matthew E. Massengill
    —       —       —       —       —       —  
Arif Shakeel
    —       —       —       —       —       —  
John F. Coyne
    65,000       5.51       20.13       5/11/2016       822,877       2,085,332  
      250,000       21.17       13.76       11/17/2015       2,163,398       5,482,474  
Raymond M. Bukaty
    —       —       —               —       —  
Hossein M. Moghadam
    14,017       1.19       23.97       2/16/2016       211,301       535,478  
Stephen D. Milligan
    —       —       —       —       —       —  
 
 
* We have not historically granted Stock Appreciation Rights.
 
(1) All of these options to purchase shares of our common stock were granted under our 2004 Performance Incentive Plan and were granted at fair market value on the date of grant. Options become exercisable as to 25% of the total number of shares granted on the first anniversary of the grant date and 6.25% at the end of each three-month period thereafter, except that the option grant to Mr. Coyne covering 250,000 shares of our common stock vests in three equal annual installments beginning on the first anniversary of the grant date. All options have a term of 10 years, subject to earlier termination in connection with termination of employment. The Compensation Committee administers the 2004 Performance Incentive Plan and has broad discretion and authority to construe and interpret the plan.
 

EXCERPTS ON THIS PAGE:

DEF 14A
Dec 15, 2006
10-K
Nov 20, 2006

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