INTL FCStone 2005 Annual Report Download - page 72

Download and view the complete annual report

Please find page 72 of the 2005 INTL FCStone annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 85

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85

INTERNATIONAL ASSETS HOLDING CORPORATION AND SUBSIDIARIES
Notes to the Consolidated Financial Statements—(Continued)
September 30, 2005 and 2004
2005 where the exercise price was greater than the market price on the grant date was $4.37. No options were
granted during 2004 where the exercise price was greater than the market price on the date of grant.
The following weighted average assumptions were used:
2005 2004
Exercise price equal to the market price on grant date:
Expected risk-free interest rate ............................... 3.29% 1.36%
Expected life ............................................. 3.26Years 0.88 Years
Expected volatility ........................................ 87.7% 91.0%
Exercise price greater than the market price on grant date:
Expected risk free interest rate ............................... 3.27%
Expected life ............................................. 3.5Years
Expected volatility ........................................ 88.4%
Stock option activity during the fiscal years ended September 30, 2005 and 2004 was as follows:
Number of
shares
Weighted
average
exercise price
Outstanding at October 1, 2003 .................................. 1,328,160 $2.21
Granted ................................................ 230,000 5.87
Exercised ............................................... (129,769) 2.67
Forfeited ................................................ (3,335) 1.30
Expired ................................................. (143,050) 6.26
Outstanding at September 30, 2004 ............................... 1,282,006 $2.37
Granted ................................................ 149,550 7.64
Exercised ............................................... (361,852) 2.02
Forfeited ................................................ (61,188) 3.51
Outstanding at September 30, 2005 ............................... 1,008,516 $3.21
At September 30, 2005 the range of exercise prices and weighted average remaining contractual life of
outstanding options was $0.65 – $11.63 and 5.9 years, respectively.
At September 30, 2005 and 2004, the number of options exercisable was 620,232 and 640,581, respectively,
and the weighted average exercise price of those options was $2.42 and $2.23, respectively.
F-32