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18816562889 · 2022年07月14日

OPTION行权之后股份数为什么是增加而不是减少

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NO.PZ2016012102000184

问题如下：

Fruit Capital company issued 55,000 shares to employees as stock options on January 1st, 20X5. 24,000 shares of these options have an exercise price of $32, and the rest of these options have an exercise price of $35. At the end of 20X5, Fruit Capital company's stock price was $42. All of outstanding common shares was 1,800,000.The average stock price over 20X5 was $34.What is the denominator of the diluted earning per share?

选项：

A.

1801412.

B.

1824000.

C.

1754.

解释：

A is correct.

Based on the average stock price, only the options at $32 are in the money (and therefore dilutive).

Using the treasury stock method, the denominator of the diluted EPS=1800000+ [24000-(24000*32)/34]=1801412.

考点：稀释EPS

是否行权要看acerage price,而不是ending price,公司这一年的平均股价是34，因此行权价格35的31000份期权是不行权的，只有 32 美元的期权是行权的（因此是稀释的）。

根据treasury stock method ，

diluted EPS的分母 = 1800000+[24000-(24000*32)/34]=1801412股。

原先份数24000，现在24000都转换成了24000*32/34份，不是应该是份数变小了吗 怎么还多了

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2 个答案

Kiko_品职助教 · 2022年07月14日

嗨，从没放弃的小努力你好：


如果还是不太理解，建议再去听一下何老师这部分基础班的讲解。大概十来分钟的时间，treasury stock method这个知识点一定要重点掌握~

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虽然现在很辛苦，但努力过的感觉真的很好，加油！

Kiko_品职助教 · 2022年07月14日

嗨，努力学习的PZer你好：


这个问题在你上一个提问里回答过了哈。你在好好体会一下。

24000*32/34得出公司回购了多少股票，而我需要加上的不是回购的，而是24000-(24000*32)/34这些发行在外的，这些才是增加的股份数。用原来的1800000加上发行在外的就是总共的。

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就算太阳没有迎着我们而来，我们正在朝着它而去，加油！

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NO.PZ2016012102000184 问题如下 Fruit Capitcompany issue55,000 shares to employees stooptions on January 1st, 20X5. 24,000 shares of these options have exercise priof $32, anthe rest of these options have exercise priof $35. the enof 20X5, Fruit Capitcompany's stopriw$42. All of outstanng common shares w1,800,000.The average stopriover 20X5 w$34.Whis the nominator of the luteearning per share? A.1801412. B.1824000. C.1754. A is correct.Baseon the average stoprice, only the options $32 are in the money (antherefore lutive). Using the treasury stometho the nominator of the luteEPS=1800000+ [24000-(24000*32)/34]=1801412.考点稀释EPS 是否行权要看average price,而不是enng price,公司这一年的平均股价是34，因此行权价格35的31000份期权是不行权的，只有 32 美元的期权是行权的（因此是稀释的）。根据treasury stometho，luteEPS的分母 = 1800000+[24000-(24000*32)/34]=1801412股。 如题。

2024-10-23 11:48 1 · 回答

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