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23. Stock Option Plans
Information regarding subscription, size and fluctuation of stock options as of March 31, 2010 and 2009 are as follows:
(a) Subscription of stock options
March 31, 2010
Date of approval by
shareholders’ meeting: June 25, 2002
Grantees: 5 directors, 25 executive officers and
80 employees
Date of granted: June 2, 2003
Class and number of shares granted: Common stock 1,994,000
Condition of settlement of rights: Limited to directors, executive officers,
employees of the company or its
subsidiaries at exercise date (except for
those who no longer hold the above
positions due to termination of terms,
retirement, or other valid reasons)
Required service period: No provisions
Exercise period: From July 1, 2004 to June 30, 2009
(b) Size and fluctuation of stock options
Outstanding stock options during the year ended March 31, 2010 converted to numbers of shares are as follows:
March 31, 2010
Non-vested (number of shares):
Outstanding at the beginning of the year:
–
Granted during the year:
–
Forfeited during the year:
–
Vested during the year:
–
Outstanding at the end of the year:
–
Vested (number of shares):
Outstanding at the beginning of the year:
966,000
Vested during the year:
–
Exercised during the year:
58,000
Forfeited during the year:
908,000
Outstanding at the end of the year:
–
Exercise price:
¥173
Weighted average market price at exercise date:
¥178
Fair evaluation price on grant date:
–
62
MITSUBISHI MOTORS CORPORATION Annual Report 2010MITSUBISHI MOTORS CORPORATION Annual Report 2010