WY » Topics » Weighted Average Assumptions Used in Estimating the Value of Stock Options Granted in Each of the Last Three Years

This excerpt taken from the WY 10-Q filed May 8, 2009.

Weighted Average Assumptions Used in Estimating the Value of Stock Options Granted in First Quarter 2009

 

     10-YEAR STANDARD
OPTIONS
    10-YEAR EXECUTIVE
OPTIONS
 

Expected volatility

     36.61 %     36.51 %

Expected dividends

     3.95 %     3.95 %

Expected term (in years)

     6.16       7.08  

Risk-free rate

     2.54 %     2.75 %

Weighted average grant date fair value

   $ 6.50     $ 6.69  
This excerpt taken from the WY 10-K filed Feb 27, 2009.

Weighted Average Assumptions Used in Estimating Value of Stock Options Granted

 

      2008
GRANTS
    2007
GRANTS
    2006 GRANTS  
     

10-YEAR

OPTIONS

   

10-YEAR

OPTIONS

   

5-YEAR

OPTIONS

   

10-YEAR

OPTIONS

 
Expected volatility      30.84 %         23.34 %         20.92 %         24.50 %    
Expected dividends      3.87 %     2.98 %     2.70 %     2.86 %
Expected term (in years)      5.92       5.13       3.38       5.21  
Risk-free rate      3.20 %     4.72 %     4.88 %     4.60 %
Weighted average grant date fair value    $  13.74     $  16.95     $  12.52     $  14.98  

Share-based compensation expense for stock options granted after 2005 is generally recognized over the vesting period. There are exceptions for stock options awarded to employees who:

 

 

are eligible for retirement,

 

will become eligible for retirement during the vesting period or

 

whose employment is terminated during the vesting period due to job elimination or the sale of a business.

In these cases, we record the share-based compensation expense over a required service period that is less than the stated vesting period.

This excerpt taken from the WY 10-Q filed Nov 7, 2008.

Weighted Average Assumptions Used in Estimating the Value of Stock Options Granted During the First 39 Weeks of 2008

 

     10-YEAR OPTIONS  

Expected volatility

     30.84 %

Expected dividends

     3.87 %

Expected term (in years)

     5.92  

Risk-free rate

     3.20 %

Weighted average fair value

   $ 13.74  

Stock appreciation rights represent liability-classified awards that are remeasured to reflect the fair value at each reporting period. The following table shows the weighted average assumptions applied to all outstanding stock appreciation rights as of September 28, 2008.

 

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This excerpt taken from the WY 10-Q filed Aug 8, 2008.

Weighted Average Assumptions Used in Estimating the Value of Stock Options Granted in Our First Half 2008

 

     10-YEAR OPTIONS  

Expected volatility

     30.84 %

Expected dividends

     3.84 %

Expected term (in years)

     5.92  

Risk-free rate

     3.20 %

Weighted average grant date fair value

   $ 13.79  

Stock appreciation rights represent liability-classified awards that are remeasured to reflect the fair value at each reporting period. The following table shows the weighted average assumptions applied to all outstanding stock appreciation rights as of June 29, 2008.

This excerpt taken from the WY 10-Q filed May 9, 2008.

Weighted Average Assumptions Used in Estimating the Value of Stock Options Granted in Our First Quarter 2008

 

     10-YEAR OPTIONS  

Expected volatility

     30.89 %

Expected dividends

     3.84 %

Expected term (in years)

     5.92  

Risk-free rate

     3.16 %

Weighted average grant date fair value

   $ 13.89  

Stock appreciation rights represent liability-classified awards that are remeasured to reflect the fair value at each reporting period. The following table shows the weighted average assumptions applied to all outstanding stock appreciation rights as of March 30, 2008.

This excerpt taken from the WY 10-K filed Feb 28, 2008.

Weighted Average Assumptions Used in Estimating the Value of Stock Options Granted in Each of the Last Three Years

 

     2007
GRANTS
    2006 GRANTS     2005 GRANTS  
    

10-YEAR

OPTIONS

   

5-YEAR

OPTIONS

   

10-YEAR

OPTIONS

   

10-YEAR

OPTIONS

 
Expected volatility      23.34 %       20.92 %       24.50 %       32.02 %  
Expected dividends      2.98 %     2.70 %     2.86 %     2.55 %
Expected term (in years)      5.13       3.38       5.21       5.02  
Risk-free rate      4.72 %     4.88 %     4.60 %     3.11 %
Weighted average grant date fair value    $ 16.95     $ 12.52     $ 14.98     $ 16.03  

Share-based compensation expense for stock options granted in 2006 and after is generally recognized over the vesting period. There are exceptions for stock options awarded to employees who are eligible for retirement or who will become eligible for retirement during the vesting period. In these cases, we recognize the share-based compensation expense over a required service period that is less than the stated four-year vesting period.

 

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