Nikon 2011 Annual Report Download - page 48

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46
The stock option activity is as follows:
2001
Stock
Options
2003
Stock
Options
2004
Stock
Options
2005
Stock
Options
2007
Stock
Options
2007
Stock
Options
2008
Stock
Options
2009
Stock
Options
2010
Stock
Options
For the year ended March 31, 2010
Non-vested
March 31, 2009—Outstanding
Granted 68,100
Canceled
Vested 68,100
March 31, 2010—Outstanding
Vested
March 31, 2009—Outstanding 54,000 59,000 151,000 148,000 99,000 26,100 117,900
Vested 68,100
Exercised 12,000 11,000 15,000 3,000
Canceled 8,000
March 31, 2010—Outstanding 34,000 48,000 136,000 145,000 99,000 26,100 117,900 68,100
Exercise price ¥ 1,321 ¥ 1,048 ¥ 1,225 ¥ 1,273 ¥ 2,902 ¥ 1 ¥ 1 ¥ 1
Average stock price at exercise ¥ 1,649 ¥ 1,581 ¥ 1,546 ¥ 1,606
Fair value price at grant date ¥ 840 ¥ 3,259 ¥ 734 ¥ 1,408
For the year ended March 31, 2011
Non-vested
March 31, 2010—Outstanding
Granted 66,800
Canceled
Vested 66,800
March 31, 2011—Outstanding
Vested
March 31, 2010—Outstanding 34,000 48,000 136,000 145,000 99,000 26,100 117,900 68,100
Vested 66,800
Exercised 22,000 21,000 17,000 4,000
Canceled
March 31, 2011—Outstanding 12,000 27,000 119,000 141,000 99,000 26,100 117,900 68,100 66,800
Exercise price ¥ 1,321 ¥ 1,048 ¥ 1,225 ¥ 1,273 ¥ 2,902 ¥ 1 ¥ 1 ¥ 1 ¥ 1
Average stock price at exercise ¥ 1,693 ¥ 1,670 ¥ 1,669 ¥ 1,750
Fair value price at grant date ¥ 840 ¥ 3,259 ¥ 734 ¥ 1,408 ¥ 1,527
The assumptions used to measure the fair value of 2010 Stock Options which were granted on July 14, 2010
Estimated method: Black-Scholes option pricing model
Volatility of stock price: 47.928%
Estimate remaining outstanding period: fifteen years
Estimated dividend: ¥8.00 per share
Risk free interest rate: 1.592%