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This excerpt taken from the PNC 10-Q filed Nov 6, 2008. Option Pricing Assumptions For purposes of computing stock option expense, we estimated the fair value of stock options primarily by using the Black-Scholes option-pricing model. Option modeling requires the use of numerous assumptions, many of which are very subjective. We used the following assumptions in the option-pricing models to determine 2008 and 2007 stock option expense:
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Table of ContentsThis excerpt taken from the PNC 10-Q filed Aug 8, 2008. Option Pricing Assumptions For purposes of computing stock option expense, we estimated the fair value of stock options using the Black-Scholes option-pricing model. The model requires the use of numerous assumptions, many of which are very subjective. We used the following assumptions in the option-pricing model to determine 2008 and 2007 stock option expense:
The following table summarizes stock option information as of and for the six months ended June 30, 2008:
The weighted-average grant-date fair value of options granted during the first six months of 2008 and 2007 was $7.51 and $11.76 per option, respectively. To determine stock-based compensation expense under SFAS 123R, the grant-date fair value is applied to the options granted with a reduction made for estimated forfeitures. During the first six months of 2008 we issued approximately 533,000 shares from treasury stock in connection with stock option exercise activity. As with past exercise activity, we currently intend to utilize treasury stock for future stock option exercises. This excerpt taken from the PNC 10-Q filed May 12, 2008. Option Pricing Assumptions
The following table summarizes PNC stock option information as of and for the three-month period ending March 31, 2008:
The weighted-average grant-date fair value of options granted during the first three months of 2008 and 2007 was $7.50 and $12.01 per option, respectively. To determine stock-based compensation expense under SFAS 123R, the grant-date fair value is applied to the options granted with a reduction made for estimated forfeitures. During the first three months of 2008 we issued approximately 147 thousand shares from treasury stock in connection with stock option exercise activity. As with past exercise activity, we intend to utilize treasury stock for future stock option exercises. This excerpt taken from the PNC 10-K filed Feb 29, 2008. Option Pricing Assumptions
INCENTIVE/PERFORMANCE UNIT SHARE AWARDS AND RESTRICTED STOCK/UNIT AWARDS The fair value of nonvested incentive/performance unit share awards and restricted stock/unit awards is initially determined based on prices not less than the market value of our common stock price on the date of grant. Incentive/performance unit share awards are subsequently valued subject to the achievement of one or more financial and other performance goals over a three-year period. The Personnel and Compensation Committee of the Board of Directors approves the final award payout with respect to incentive/performance unit share awards. Restricted stock/unit awards have various vesting periods ranging from 24 months to 60 months. There are no financial or performance goals associated with any of our restricted stock/unit awards. The weighted-average grant-date fair value of incentive/performance unit share awards and restricted stock/unit awards granted in 2007, 2006 and 2005 was $73.83, $67.36 and $53.81 per share, respectively. We recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program. Total compensation expense recognized related to PNC incentive/performance unit share awards and restricted stock/unit awards during 2007 was approximately $42 million compared with $45 million in 2006 and $44 million in 2005.
This excerpt taken from the PNC 10-K filed Feb 4, 2008. Option Pricing Assumptions
This excerpt taken from the PNC 10-Q filed Nov 8, 2007. Option Pricing Assumptions
The following table summarizes PNC stock option information as of and for the nine month period ending September 30, 2007:
The weighted-average grant-date fair value of options granted during the first nine months of 2007 and 2006 was $10.51 and $10.02, respectively. During the first nine months of 2007 we issued approximately 1.9 million shares from treasury stock in connection with stock option exercise activity. As with past exercise activity, we intend to utilize treasury stock for future stock option exercises. This excerpt taken from the PNC 10-Q filed Aug 8, 2007. Option Pricing Assumptions
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Table of ContentsThis excerpt taken from the PNC 10-Q filed May 9, 2007. Option Pricing Assumptions
The following table summarizes PNC stock option information as of and for the three month period ending March 31, 2007:
The weighted-average grant-date fair value of options granted during the first quarter of 2007 was $10.76 per option, compared with $10.00 per option for options granted during the first quarter of 2006. During the first quarter of 2007 we issued approximately 1.1 million shares from treasury stock in connection with stock option exercise activity. As with past exercise activity, we intend to utilize treasury stock for future stock option exercises. | EXCERPTS ON THIS PAGE:
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