OPTION GRANTS IN LAST FISCAL YEAR
INDIVIDUAL GRANTS
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NUMBER OF PERCENTAGE OF
SHARES TOTAL OPTIONS
UNDERLYING GRANTED TO EXERCISE
OPTIONS EMPLOYEES IN PRICE GRANT EXPIRATION GRANT DATE
NAME GRANTED(A) FISCAL YEAR PER SHARE DATE DATE PRESENT VALUE(B)
---- ---------- ------------- --------- ---------- ---------- ----------------
Mr. Dell............. 8,000,000(c) 13.22% $16.67 3-05-98 3-05-08 $53,100,000
4,800,000(d) 7.83 28.90 7-17-98 7-17-08 52,272,000
Mr. Topfer........... 628,064(e) 1.04 12.74 3-20-98 3-20-08 5,878,679
259,540(f) 0.43 28.90 7-17-98 7-17-08 2,826,391
Mr. Rollins.......... 353,584(e) 0.58 12.74 3-20-98 3-20-08 3,309,546
259,540(d) 0.43 28.90 7-17-98 7-17-08 2,826,391
Mr. Meredith......... 320,536(e) 0.53 12.74 3-20-98 3-20-08 3,000,217
86,520(d) 0.14 28.90 7-17-98 7-17-08 942,203
Mr. Everett.......... 4,000,000(c) 6.61 12.88 2-02-98 2-02-08 20,790,000
51,920(g) 0.09 28.90 7-17-98 7-17-08 565,409
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(a) Except for the ESOIP options described in note (e) below, such options were
transferrable to the holder's family members for a limited period of time
following the date of grant.
(b) Calculated using the Black-Scholes model. The material assumptions and
adjustments incorporated into the Black-Scholes model in making such
calculations include the following: (1) an interest rate representing the
interest rate on U.S. Treasury securities with a maturity date
corresponding to the option term; (2) volatility determined using daily
prices for the Company's Common Stock during the five-year period
immediately preceding date of grant; (3) a dividend rate of $0; and (4) in
each case (other than the ESOIP options described in note (e) below), a
reduction of 25% to reflect the probability of forfeiture due to
termination of employment prior to vesting and the probability of a
shortened option term due to termination of employment prior to the option
expiration date. The ultimate values of the options will depend on the
future market prices of the Common Stock, which cannot be forecast with
reasonable accuracy. The actual value, if any, that an optionee will
recognize upon exercise of an option will depend on the difference between
the market value of the Common Stock on the date the option is exercised
and the applicable exercise price.
(c) These options vest and become exercisable with respect to 20% of the
underlying shares on each of the first five anniversaries of the date of
grant.
(d) These options vest and become exercisable with respect to 20% of the
underlying shares on each of the third through seventh anniversaries of the
date of grant.
(e) These options were granted as a part of the ESOIP, which is described
below. These options vest and become exercisable on the first anniversary
of the date of grant. These options were received in lieu of fiscal 1998
annual
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bonuses in the following amounts: Mr. Topfer $2,000,000 (100%); Mr. Rollins
$1,125,953 (100%); and Mr. Meredith $1,020,719 (100%). Those amounts are
shown in the Bonus column of the "Summary Compensation Table" above.
(f) These options vest and become exercisable with respect to 100% of the
underlying shares on December 1, 2001.
(g) These options vest and become exercisable with respect to 20% of the
underlying shares on each of the fifth through the ninth anniversaries of
the grant date. |
