Brother International 2011 Annual Report Download - page 38

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Brother Industries, Ltd. and Consolidated Subsidiaries
For the Years ended March 31, 2011 and 2010
36 Brother Annual Report 2011
The stock option activity was as follows:
2011 Stock
Option
2010 Stock
Option
2009 Stock
Option
2008 Stock
Option
2007 Stock
Option
(shares) (shares) (shares) (shares) (shares)
For the year ended March 31, 2010
Non-vested  
March 31, 2009 – Outstanding ———— —
Granted ———— —
Canceled — — — — —
Vested — — — — —
March 31, 2010 – Outstanding ———— —
Vested
March 31, 2009 - Outstanding — — 114,500 65,100 46,000
Vested — 101,500 — — —
Exercised — — — — —
Canceled — — — — —
March 31, 2010 – Outstanding — 101,500 114,500 65,100 46,000
For the year ended March 31, 2011
Non-vested
March 31, 2010 – Outstanding ———— —
Granted ———— —
Canceled ———— —
Vested ———— —
March 31, 2011 – Outstanding ———— —
Vested
March 31, 2010 - Outstanding — 101,500 114,500 65,100 46,000
Vested 83,500——— —
Exercised — 3,200 — 13,500 14,000
Canceled — — — — —
March 31, 2011 – Outstanding 83,500 98,300 114,500 51,600 32,000
Exercise price ¥ 1 ¥ 1 ¥ 1 ¥ 1 ¥ 1
($ 0.01) ($ 0.01) ($ 0.01) ($ 0.01) ($ 0.01)
Average stock price at exercise — ¥ 1,053 — ¥ 921 ¥ 1,057
(—) ($ 12.69) (—) ($ 11.10) ($ 12.74)
Fair value price at grant date ¥ 1,018 ¥ 899 ¥ 642 ¥ 915 ¥ 1,350
(directors) ($12.27) ($ 10.83) ($ 7.73) ($ 11.02) ($ 16.27)
Fair value price at grant date ¥ 1,034 ¥ 912 —— —
(executive o cers) ($ 12.46) ($ 10.99) (—) (—) (—)
The assumptions used to measure fair value of 2011 Stock Option (directors)
Estimate method: Black-Scholes option pricing model
Volatility of stock price: 41.00%
Estimated remaining outstanding period: 10 years
Estimated dividend rate: 1.51%
Interest rate with risk free: 1.23%
The assumptions used to measure fair value of 2011 Stock Option (executive officers)
Estimate method: Black-Scholes option pricing model
Volatility of stock price: 40.06%
Estimated remaining outstanding period: 9 years
Estimated dividend rate: 1.50%
Interest rate with risk free: 1.12%
Notes to Consolidated Financial Statements