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gzlun · 2023年02月08日

发行了55000员工股，变现了24000股，剩下的31000股不也应该算到全部的shares里面吗？

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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

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王园圆_品职助教 · 2023年02月08日

嗨，努力学习的PZer你好：


同学你好，剩下的31000并不是发行的股票，而是 stock options 

也就是说，在公司平均股价（34）低于这31000股期权的执行价格（35）的情况下， 员工是不会把期权转换成股票的，所以公司就不需要新发31000股股票，所以不需要在1800000股的基础上增加

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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。

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