Annual Report 2009 - Daiichi Sankyo

The fair value of options granted was estimated using the Black-Scholes model with the following assumptions:
2007 2008
Stock option
Stock option
Expected volatility 29.7% 37.4%
Expected holding period 10 years 10 years
Expected dividend ¥65 ¥75
Risk-free rate 01.5% 01.5%
(2) Stock Options by the Subsidiaries
Under the subsidiaries’ stock option plan, subscription rights to shares were granted to directors and employees of the
subsidiaries. The outline of stock options provided by the subsidiaries as of March 31, 2009 was as follows:
2001 2001 2002
Stock option (1) Stock option (2) Stock option
Individuals covered by the plan:
Directors 3 3 3
Employees 494 679 862
Total 497 682 865
Class and number of stocks (shares)
Common stock 434,540 664,500 940,900
Date of the grant January 12, 2001 December 3, 2001 April 1, 2002
Vesting The options are vested The options are vested The options are vested
evenly over a period of evenly over a period of evenly over a period of
5 years from the date 5 years from the date 5 years from the date
of the grant. of the grant. of the grant.
Exercise period 10 years from the date 10 years from the date 10 years from the date
of the grant of the grant of the grant
2003 2004 2005
Stock option Stock option Stock option
Individuals covered by the plan:
Directors 3 2 2
Employees 931 1,208 1,605
Total 934 1,210 1,607
Class and number of stocks (shares)
Common stock 1,861,900 2,565,500 3,013,350
Date of the grant February 7, 2003 January 22, 2004 January 17, 2005
Vesting The options are vested The options are vested The options are vested
evenly over a period of evenly over a period of evenly over a period of
5 years from the date 5 years from the date 5 years from the date
of the grant. of the grant. of the grant.
Exercise period 10 years from the date 10 years from the date 10 years from the date
of the grant of the grant of the grant
Daiichi Sankyo Co., Ltd. Annual Report 2009 71