Brother International 2008 Annual Report Download - page 33

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31Brother Annual Report 2008
The stock option activity is as follows:
2008 Stock 2007 Stock
Option Option
(shares) (shares)
For the year ended March 31, 2007
Non-vested
March 31, 2006 - Outstanding ——
Granted ——
Canceled ——
Vested ——
March 31, 2007 - Outstanding ——
Vested
March 31, 2006 - Outstanding ——
Vested —46,000
Exercised ——
Canceled ——
March 31, 2007 - Outstanding —46,000
For the year ended March 31, 2008
Non-vested
March 31, 2007 - Outstanding ——
Granted ——
Canceled ——
Vested ——
March 31, 2008 - Outstanding ——
Vested
March 31, 2007 - Outstanding —46,000
Vested 65,100 —
Exercised ——
Canceled ——
March 31, 2008 - Outstanding 65,100 46,000
Exercise price ¥1 ¥1
($0.010) ($0.010)
Average stock price at exercise ¥ — ¥ —
($ —) ($ —)
Fair value price at grant date ¥915 ¥1,350
($9.150) ($13.500)
The assumptions used to measure fair value of 2007 Stock Option
Estimate method: Black-Scholes option pricing model
Volatility of stock price: 39.12%
Estimated remaining outstanding period: 9 years
Estimated dividend rate: 1.16%
Interest rate with risk free: 1.63%
The assumptions used to measure fair value of 2008 Stock Option
Estimate method: Black-Scholes option pricing model
Volatility of stock price: 38.62%
Estimated remaining outstanding period: 9 years
Estimated dividend rate: 1.24%
Interest rate with risk free: 1.09%