SCARPELLI MICHAEL P 4

4 · LEXAR MEDIA INC · Filed Jun 23, 2006

Form 4

Period: 2006-06-21

Chief Financial Officer

Transactions

Disposition to Issuer
Employee Stock Option (Right to Purchase)
2006-06-21−150,000→ 0 total
Exercise: $6.45Exp: 2016-02-09→ Common Stock (150,000 underlying)
Disposition to Issuer
Employee Stock Option (Right to Purchase)
2006-06-21−100,000→ 0 total
Exercise: $8.75Exp: 2016-01-15→ Common Stock (100,000 underlying)

Footnotes (3)

[F1]Disposed of pursuant to the merger agreement (the "Merger Agreement") between Lexar Media, Inc. ("Lexar") and Micron Technology, Inc. ("Micron").
[F2]This option vests over four years, with 25% of the total shares vesting on January 16, 2007, and thereafter 1/48th of the total shares vesting per month. Pursuant to the Merger Agreement, (i) 25% of the unvested shares were accelerated and became exercisable immediately prior to the the time of the merger, and (ii) the option was assumed by Micron and replaced with an option to purchase 88,875 shares of Micron common stock for $10.89 per share.
[F3]This option vests over four years, with 25% of the total shares vesting on January 16, 2007, and thereafter 1/48th of the total shares vesting per month. Pursuant to the Merger Agreement, (i) 25% of the unvested shares were accelerated and became exercisable immediately prior to the time of the merger and (ii) the option was assumed by Micron and replaced with an option to purchase 59,250 shares of Micron common stock for $14.77 per share.

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