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The document contains two stock option valuation worksheets. The first uses a stock price of $50, exercise price of $50, expected life of 6.85 years, and time to vest of 3 years to value the option at $18.52 using a binomial tree model. The second uses a stock price of $130, exercise price of $100, total life of 5 years, time to vest of 0 years, and exercise multiple of 1.31 to value the option at $30.61 with an expected exercise time of 0.08 years.
The document contains two stock option valuation worksheets. The first uses a stock price of $50, exercise price of $50, expected life of 6.85 years, and time to vest of 3 years to value the option at $18.52 using a binomial tree model. The second uses a stock price of $130, exercise price of $100, total life of 5 years, time to vest of 0 years, and exercise multiple of 1.31 to value the option at $30.61 with an expected exercise time of 0.08 years.
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The document contains two stock option valuation worksheets. The first uses a stock price of $50, exercise price of $50, expected life of 6.85 years, and time to vest of 3 years to value the option at $18.52 using a binomial tree model. The second uses a stock price of $130, exercise price of $100, total life of 5 years, time to vest of 0 years, and exercise multiple of 1.31 to value the option at $30.61 with an expected exercise time of 0.08 years.
Hak Cipta:
Attribution Non-Commercial (BY-NC)
Format Tersedia
Unduh sebagai XLS, PDF, TXT atau baca online dari Scribd
Exercise Price ($) 50.00 Expected Life (years) 6.85 Time to Vest (years) 3 Employee Exit Rate pre-vesting (% per year) 5.00%
Expected Volatility (% per year) 40.00%
Risk-free rate (% per year) 7.50% Dividend yield (% per year) 2.50%
Which Model? 1=BlackScholes; 2=Bin. Tree 2
Calculate Option Value
Value of Option 18.52
ENHANCED FASB 123 Worksheet
Stock Price ($) 130.00
Exercise Price ($) 100.00 Total Life i.e., time to last exercise date (years) 5 Time to Vest (years) 0 Employee Exit Rate pre-vesting (% per year) 0.00% Employee Exit Rate post-vesting (% per year) 0.00% Exercise Multiple* 1.31
Expected Volatility (% per year) 40.00%
Risk-free rate (% per year) 3.00% Dividend yield (% per year) 0.50%
Calculate Value and Expected Time
Value of Option 30.61
Expected Time to Exercise Assuming Option Vests 0.08
*The exercise multiple defines the early exercise strategy.
The option holder voluntarily exercises early if the stock price is greater than the exercise price times the exercise multiple BASIC FASB 123 Worksheet ENHANCED FASB 123 W
Stock Price ($) 50.00
Exercise Price ($) 52.00 Expected Life (years) 6.15 Time to Vest (years) 3 Employee Exit Rate pre-vesting (% per year) 5.00%
Expected Volatility (% per year) 40.00%
Risk-free rate (% per year) 7.50% Dividend yield (% per year) 2.50%
Which Model? 1=BlackScholes; 2=Bin. Tree 1
Calculate Option Value
Value of Option 17.06
ENHANCED FASB 123 Worksheet
Stock Price ($) 130.00
Exercise Price ($) 100.00 Total Life i.e., time to last exercise date (years) 5 Time to Vest (years) 0 Employee Exit Rate pre-vesting (% per year) 0.00% Employee Exit Rate post-vesting (% per year) 0.00% Exercise Multiple* 1.31
Expected Volatility (% per year) 40.00%
Risk-free rate (% per year) 3.50% Dividend yield (% per year) 0.50%
Calculate Value and Expected Time
Value of Option 30.62
Expected Time to Exercise Assuming Option Vests 0.07
*The exercise multiple defines the early exercise strategy.
The option holder voluntarily exercises early if the stock price is greater than the exercise price times the exercise multiple