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39NIKON ANNUAL REPORT 2007
9. STOCK OPTION
The stock option outstanding as of March 31, 2007 is as follows:
The stock option activity is as follows:
2001 Stock Option
2003 Stock Option
2004 Stock Option
2005 Stock Option
2006 Stock Option
2001.6.28
2003.6.27
2004.6.29
2005.6.29
2007.3.14
From June 19, 2003
To June 28, 2011
From June 28, 2005
To June 27, 2013
From June 30, 2006
To June 29, 2014
From June 30, 2007
To June 29, 2015
From February 28, 2009
To February 27, 2017
9 directors
13 officers
11 directors
11 officers
12 directors
10 officers
11 directors
10 officers
12 directors
12 officers
99,000 shares
203,000 shares
210,000 shares
178,000 shares
99,000 shares
Stock Option Persons Granted Number of Options Granted Date of Grant
1,321
1,048
1,225
1,273
2,902
Exercise Price Exercise Period
93,000
24,000
69,000
1,321
2,294
2001 Stock
Option
March 31, 2006-Outstanding
Granted
Canceled
Vested
March 31, 2007-Outstanding
March 31, 2006-Outstanding
Vested
Exercised
Canceled
March 31, 2007-Outstanding
Exercise price
Average stock price at exercise
Fair value price at grant date
Estimate method: Black-Scholes option pricing model
Volatility of stock price: 41.841%
Estimate remaining outstanding period: six years
Estimate dividend: ¥12.50 per share
Interest rate with risk free: 1.215%
For the year ended March 31, 2007
Non-vested
Vested
186,000
45,000
141,000
1,048
2,343
2003 Stock
Option
210,000
(210,000)
210,000
17,000
193,000
1,225
2,411
2004 Stock
Option
(Shares)
178,000
178,000
1,273
2005 Stock
Option
99,000
99,000
2,902
840
2006 Stock
Option
The assumptions used to measure fair value of 2006 Stock Option