1969 Intel Financial Statement
We have examined the accompanying balance sheet of Intel Corporation at December 31, 1969 and the related statements of operations and stakeholders’ equity for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of accounting records and such other auditing procedures as we considered necessary in the circumstances.
In our opinion, the statements mentioned above present fairly the financial position of Intel Corporation at December 31, 1969 and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding period.
Operations from inception, in 1968, through June 1969 consisted only of research and development of certain new semiconductor devices. Sales of these devices commenced in July 1969.
Stock option plan
Officers and key employees have been granted options to purchase (within five years from the date of the grants at the rate of 25%) shares of the Company’s authorized but unissued capital stock at the fair market value at the date of grant. At December 31, 1969, there were outstanding options as follows:
During 1969, options on a total of 16,315 shares were exercised at $2.86 per share. Options on 875 shares were cancelled during the year.
At December 31, 1969, there were 158,685 shares reserved for stock options, representing options granted but unexercised (136,285 shares – for a total exercise price of $466,592) and options available for granting (22,400 shares).
Employee stock purchase plan
Effective January 1, 1969, the shareholders approved an employee stock purchase plan whereby eligible employees may purchase shares of the Company’s authorized unissued capital stock at the fair market value on the date of purchase.
Read the full 1969 Intel Financial Statement.