Creative 2001 Annual Report Download - page 30

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30
NOTE 8 – EMPLOYEE SHARE PURCHASE AND STOCK OPTION PLANS (Cont’d)
Creative and Subsidiary Pro Forma Disclosures
The fair value of the purchase rights under the Creative employee share purchase plan and stock option plan is
estimated using the Black-Scholes model based on the following assumptions:
Fiscal 2001 Fiscal 2000 Fiscal 1999
Volatility 50% 60% 70%
Risk-free interest rates
Share purchase plan 3.78% to 6.09% 6.22% to 6.81% –
Stock options – 5.20% to 6.65% 4.70% to 5.27%
Dividend yield – 1.0% 2.0%
Expected lives:
Share purchase plan 6 months 6 months –
Stock options – 0.01 years after vest date 0.01 years after vest date
Years ended June 30
2001 2000 1999
Weighted average fair value of stock options granted:
Stock options:
At market $ – $ 5.02 $ 5.95
Below market $ – $ 4.71 $ 6.09
The fair value of the purchase rights under the subsidiary stock option plan is estimated using the Black-Scholes
model based on the following assumptions:
Fiscal 2001 Fiscal 2000
Volatility – –
Risk-free interest rates 3.78% to 6.34% 5.99% to 6.40%
Dividend yield – –
Expected lives 0.01 year after vest date 0.01 year after vest date
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS