Nikon 2009 Annual Report Download - page 44

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42 Nikon Annual Report 2009
The stock option activity is as follows:
(Shares)
2001
Stock Options
2003
Stock Options
2004
Stock Options
2005
Stock Options
2007
Stock Options
2007
Stock Options
2008
Stock Options
For the year ended March 31, 2008
Non-vested
March 31, 2007—Outstanding 178,000 99,000
Granted
Canceled
Vested 178,000
March 31, 2008—Outstanding 99,000
Vested
March 31, 2007—Outstanding 69,000 141,000 193,000
Vested 178,000 26,100
Exercised 10,000 63,000 29,000 21,000
Canceled
March 31, 2008—Outstanding 59,000 78,000 164,000 157,000 26,100
Exercise price ¥ 1,321 ¥ 1,048 ¥ 1,225 ¥ 1,273 ¥ 2,902 ¥ 1
Average stock price at exercise ¥ 3,550 ¥ 3,458 ¥ 3,107 ¥ 3,130
Fair value price at grant date ¥ 840 ¥ 3,259
For the year ended March 31, 2009
Non-vested
March 31, 2008—Outstanding 99,000 117,900
Granted
Canceled
Vested 99,000 117,900
March 31, 2009—Outstanding
Vested
March 31, 2008—Outstanding 59,000 78,000 164,000 157,000 26,100
Vested 99,000 117,900
Exercised 5,000 19,000 13,000 9,000
Canceled
March 31, 2009—Outstanding 54,000 59,000 151,000 148,000 99,000 26,100 117,900
Exercise price ¥ 1,321 ¥ 1,048 ¥ 1,225 ¥ 1,273 ¥ 2,902 ¥ 1 ¥ 1
Average stock price at exercise ¥ 3,139 ¥ 3,145 ¥ 3,157 ¥ 3,191
Fair value price at grant date ¥ 840 ¥ 3,259 ¥ 734
The assumptions used to measure the fair value of 2008 Stock Options which were granted on November 25, 2008.
Estimate method: Black-Scholes option pricing model
Volatility of stock price: 43.022%
Estimate remaining outstanding period: fifteen years
Estimate dividend: ¥25.00 per share
Interest rate with risk free: 1.908%