Sony 2001 Annual Report Download - page 123

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Sony Corporation Annual Report 2001
121
Presented below is a summary of the activity for both the warrant and convertible bond plans for the
years shown:
Year ended March 31
1999 2000 2001
Weighted- Weighted-
average average
Number of exercise Number of exercise Number of Weighted-average
Shares price Shares price Shares exercise price
Yen Yen Yen Dollars
Outstanding at beginning
of year . . . . . . . . . . . . . . . 773,078 ¥5,306 1,357,568 ¥5,846 1,531,573 ¥ 6,456 $ 51.65
Granted . . . . . . . . . . . . . . . 638,000 6,264 558,000 7,167 1,420,900 12,788 102.30
Exercised . . . . . . . . . . . . . . (53,510) 3,025 (383,995) 5,333 (111,103) 5,341 42.73
Forfeited . . . . . . . . . . . . . . —— ——(41,100) 12,544 100.35
Outstanding at end
of year . . . . . . . . . . . . . . . 1,357,568 ¥5,846 1,531,573 ¥6,456 2,800,270 ¥ 9,911 $ 79.29
Exercisable at end
of year . . . . . . . . . . . . . . . 719,568 ¥5,476 541,966 ¥5,877 825,265 ¥6,332 $ 50.66
A summary of warrants and convertible bond options outstanding and exercisable at March 31, 2001 is
as follows:
Outstanding Exercisable
Weighted-
average
Number of Weighted-average remaining Number of Weighted-average
Exercise price range Shares exercise price life Shares exercise price
Yen Yen Dollars Years Yen Dollars
¥5,894 – 10,000 . . . . . . . 1,420,470 ¥ 6,543 $ 52.34 3.23 825,265 ¥6,332 $ 50.66
10,001 – 15,237 . . . . . . . 1,379,800 13,379 107.03 6.74 —— —
¥5,894 – 15,237 . . . . . . . 2,800,270 ¥ 9,911 $ 79.29 4.96 825,265 ¥6,332 $ 50.66
As the exercise prices for both the warrant and convertible bond plans were determined based on the
prevailing market price shortly before the date of grant, the compensation expense for these plans were not
significant for the years ended March 31, 1999, 2000 and 2001, respectively.