 |
1998 Employee Stock Purchase Plan
The 1998 Employee Stock Purchase Plan (the "1998 Plan") provides for the grant of rights to eligible employees on a semi-annual basis to purchase shares of the Company's common stock. The 1998 Plan allows eligible employees to purchase up to 500 shares at the lessor of (1) 85% of the average market price of the common stock on the first business day of the Payment Period or (2) 85% of the average market price of the common stock on the last business day of the Payment Period. The participant can contribute up to 10% of total compensation to the 1998 Plan.
Stock Option Activity
The option activity for the years ended March 31, 2002, 2001 and 2000 was as follows:
|
2002 |
2001 |
2000 |
|
 |
|
Number
of
Shares |
Weighted
Average
Exercise
Price |
Number
of
Shares |
Weighted
Average
Exercise
Price |
Number
of
Shares |
Weighted
Average
Exercise
Price |
|
|
Outstanding options
at beginning of year |
2,257,000 |
$ 5.08 |
1,990,625 |
$ 5.64 |
1,908,125 |
$ 6.23 |
| Granted |
422,000 |
2.09 |
1,019,000 |
4.28 |
590,000 |
4.34 |
| Exercised |
- |
- |
(26,000) |
4.97 |
- |
- |
| Cancelled |
(1,020,831) |
5.05 |
(726,625) |
5.39 |
(507,500) |
6.34 |
|
|
Outstanding options at
end of year |
1,658,169 |
4.34 |
2,257,000 |
5.08 |
1,990,625 |
5.64 |
|
 |
| Exercisable at end of year |
1,094,196 |
4.87 |
1,085,625 |
5.47 |
846,377 |
5.43 |
|
|
Available for future grant
at end of year |
1,531,581 |
- |
932,750 |
- |
1,043,500 |
- |
|
|
Weighted average fair value
of options granted
during the year |
$1.44 |
|
$3.77 |
|
$3.19 |
|
|
|
|
