Brother International 2009 Annual Report Download - page 34

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Brother Industries, Ltd. and Consolidated Subsidiaries
For the Years ended March 31, 2009 and 2008
The stock option activity was as follows:
2009 Stock
Option
2008 Stock
Option
2007 Stock
Option
(shares) (shares) (shares)
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
For the year ended March 31, 2009
Non-vested
March 31, 2008 – Outstanding — — —
Granted —— —
Canceled —— —
Vested —— —
March 31, 2009 – Outstanding — — —
Vested
March 31, 2008 - Outstanding — 65,100 46,000
Vested 114,500 — —
Exercised —— —
Canceled —— —
March 31, 2009 – Outstanding 114,500 65,100 46,000
Exercise price ¥ 1 ¥ 1 ¥ 1
($ 0.010) ($ 0.010) ($ 0.010)
Average stock price at exercise ¥ — ¥ — ¥ —
($ —) ($ —) ($ —)
Fair value price at grant date ¥ 642 ¥ 915 ¥ 1,350
($ 6.551) ($ 9.337) ($ 13.776)
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%
The assumptions used to measure fair value of 2009 Stock Option
Estimate method: Black-Scholes option pricing model
Volatility of stock price: 43.17%
Estimated remaining outstanding period: 10 years
Estimated dividend rate: 1.34%
Interest rate with risk free: 1.29%
32 Brother Annual Report 2009