开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

乐笙 · 2022年12月14日

如果我是公司员工

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average 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

如题,我肯定会看实时股价去行权,而不是看平均股价,因为作为员工我也不懂这个,年底股价便宜,我肯定会在年底行权。所以这才是现实当中普遍存在的吧?

而不是题目中默认的假设,即与平均股价比较? 这个理解对吗

1 个答案
已采纳答案

王园圆_品职助教 · 2022年12月14日

嗨,爱思考的PZer你好:


同学你好,你说的“年底股价便宜,我肯定会在年底行权”助教理解是股价很高的时候,行权才划算,因为行权价和真实股价差距很大,就能获得最大的差价获得最高的收益。

再看一般情况,平均股价必须要大于行权价,才会存在行权的可能性。

由于股价是实时变动且不可预测的,而每个员工对资金需求的时间点也不相同,所以现实是,对于可以行权的一大批员工来说,可能A员工的行权价和B员工的行权价不同且行权时间点也。对于每个个人员工而言,行权大概率跟股价高低相关,但是也有可能手很多别的因素的影响的

因而这里的平均股价,确实是理论假设,但是也是我们无法获得实际员工的行权数据时能够做出的比较合理的一种假设,只能假设有的员工能高一点的价格行权,有的运气不好以较低的价格行权,最后整个公司来看就是以平均价格来行权了

----------------------------------------------
虽然现在很辛苦,但努力过的感觉真的很好,加油!

  • 1

    回答
  • 0

    关注
  • 367

    浏览
相关问题

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

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。 乘以32/34是啥意思?分母不是算股数吗?为什么要乘除价格?

2024-04-16 22:06 1 · 回答

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。 老师,如题,我对剩下的31000股不太明白。我明白option的24000股应该假设回购股票,但剩下的31000股不应该是在原来的1800000股的基础上增加的吗?所以,是不是应该1800000+24000-24000*32/34+31000?谢谢

2023-02-08 00:43 1 · 回答

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。 在实际情况中,不应该与当前价格做对比吗

2022-12-29 14:36 1 · 回答