6. SHAREHOLDERS' EQUITY |
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SHAREHOLDERS' EQUITY |
Dividend The Company’s Board of Directors declared cash dividends during fiscal years 2016 and 2015. The details of the dividends paid are in the following tables:
FY2015
FY2016
Stock Option Plan In September 1996, the Board of Directors adopted, and the shareholders approved, the 1996 Stock Option Plan (the "Option Plan") under which a total of 1,000,000 shares of common stock had been reserved for issuance. In March 1999, the shareholders approved an increase in the number of shares that may be granted under the Option Plan to 2,000,000. In February 2000, the shareholders approved an increase in the number of shares that may be granted under the Option Plan to 4,000,000. In December 2000, the shareholders approved an increase in the number of shares that may be granted under the Option Plan to 5,000,000. Furthermore, in February 2005, the shareholders approved an additional 1,000,000 shares, resulting in the total number of shares that may be granted under the Option Plan to 6,000,000. The 1996 Stock Option Plan terminated in September 2006 by its term.
On February 23, 2007, the Board of Directors adopted and the shareholders approved the 2007 Stock Option Plan under which a total of 1,000,000 shares of common stock had been reserved for issuance. On February 25, 2014 the shareholders approved an additional 1,000,000 shares increasing the total number of shares that may be granted under the Option Plan to 2,000,000.
Qualified Incentive Stock Options (Qualified ISO) As of February 29, 2016, employees hold Qualified ISO to purchase 950,900 shares of common stock at exercise prices ranging from $1.00 to $9.71, which were granted prior to February 29, 2016.
Non-Qualified Stock Options (Non-Qualified ISO) As of February 29, 2016, the outside members of the Board of Directors hold options to purchase 49,350 shares of common stock at exercise prices ranging from $1.67 to $6.75, which were granted prior to February 29, 2016.
The weighted-average remaining contractual life of options outstanding issued under the Plan, both Qualified ISO and Non-Qualified SO, was 7.93 years at February 29, 2016. The exercise prices for the options outstanding at February 29, 2016 ranged from $1.00 to $9.82, and the information relating to these options is as follows:
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