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10. Stock Options
The Company has incentive stock option plans for directors,
executive officers and selected employees. In accordance
with approval at the ordinary general meetings of sharehold-
ers on June 29, 2004 and June 29, 2005, the Company
granted share acquisition rights to directors, executive officers
and certain employees of the Company and directors of the
consolidated subsidiaries. These stock options became
exercisable two years after the date of grant and the exercise
period is three years. The Company recorded the fair value of
the stock options as a part of their remuneration.
The ASBJ Statement No. 8, “Accounting Standard for
Stock Options” and related guidance are applicable to stock
options granted on and after May 1, 2006.
This standard requires companies to recognize compensa-
tion expense for employee stock options based on the fair
value at the date of grant and over the vesting period as
consideration for receiving goods or services.
The Company does not have stock options granted on and
after May 1, 2006.
A summary of information for the Company’s stock option plan as of March 31, 2010 is as follows:
Yen
Year ended March 31 Persons Granted Exercisable Period
Weighted-Average
Exercise Price Number of Shares
2006 436 From July 2, 2007 to June 30, 2010 ¥1,828 315,100
A summary of the status of the Company’s stock options at March 31, 2010, and the changes during the year then ended is
as follows:
Number of Shares
2005 Stock Option 2006 Stock Option
Vested
March 31, 2009 (Outstanding) 315,900 315,100
Vested ––
Exercised ––
Expired 315,900 –
March 31, 2010 (Outstanding) – 315,100
There were no non-vested options at March 31, 2010.
41
PIONEER CORPORATION Annual Report 2010