DEFA14A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 14A

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Securities Exchange Act of 1934

(Amendment No.    )

 

 

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Synaptics Incorporated
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Synaptics aggressively manages dilution from its equity compensation program through its share repurchase program and has done so for many years. As of August 30, 2013, the record date for the 2013 Annual Meeting of Stockholders, Synaptics’ had 32,337,730 shares outstanding, which was less than the split-adjusted 34,173,078 shares outstanding on January 29, 2002, the initial public offering date. Synaptics utilizes its share repurchase program to ensure minimal dilution from its equity compensation programs having repurchased for approximately $510 million a split adjusted 23,144,886 shares since 2005, of which 7,729,523 of those shares were repurchased in the three-year period ended August 30, 2013 and 1,216,904 were repurchased in the first quarter of fiscal 2014. The remaining authorization under the share repurchase program is approximately $110 million.

As of August 30, 2013, there were 5,962,261 shares reserved for issuance under outstanding stock options, of which 4,380,374 are vested and in-the-money. Of the vested and in-the-money stock options, 1,048,056 have been outstanding for more than six years. Excluding the 1,048,056 shares underlying stock options that are vested and in-the-money and outstanding for more than six years, the weighted average exercise price for outstanding stock options is $28.03 and the weighted average contractual term is 5.4 years.