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A. Details of Options granted as on 31 March, 2012 are given below:
Type of
arrangement
Date of grant Options
granted
(nos.)
Employee 15th September
Stock Options 2007
Fair value
on the
grant date
(`)
HT Media Limited
Vesting conditions Weighted
average
remaining
contractual
life in years
193,782 16.07 ¼ of the shares vest each year over a
period of four years starting from one
year after the date of grant
Employee 20th May 2009 11,936 14.39 ¼ of the shares vest each year over a
Stock Options
period of four years starting from one
year after the date of grant
Employee
Stock Options
Employee
Stock Options
4th February 2010 150,729 87.01 50% on the date of grant and 25%
vest each year over a period of 2 years
starting from the date of grant
8th March 2010 17,510 56.38 ¼ of the shares vest each year over a
period of four years starting from one
year after the date of grant
Employee 1st April 2010 4,545 53.87 ¼ of the shares vest each year over a
Stock Options
period of four years starting from one
year after the date of grant
Weighted average fair value of the options outstanding is `46.90 per option.
B. Summary of activity under the plans is given below.
Employee Stock Options
Particulars As at
31 March, 2012
Number of
options
Weightedaverage
exercise price
(`)
Weightedaverage
remaining
contractual
life (in years)
Number of
options
As at
31 March, 2011
Weightedaverage
exercise price
(`)
9.47
11.15
9.47
11.95
12.00
Weightedaverage
remaining
contractual
life (in years)
Outstanding at the
beginning of the year
364,110 22.07 10.65 366,345 21.56 11.62
Granted during the year - - - 4,545 60 13.00
Forfeited/Cancelled
during the year
5,367 34.73 - - - -
Exercised during the year 19,980 21.39 - 6,780 19.95 -
Expired during the year - - - - - -
Outstanding at the end of
the year
338,763 21.91 9.65 364,110 22.07 10.65
The estimated fair value of each stock option granted on each date was made using the Black-Scholes option pricing
model with the following assumptions:
Particulars As at
As at
31 March, 2012
31 March, 2011
Grant Date
1st April, 2010
Expected Volatility 0%
Life of the options granted (Vesting and
exercise period) in years
N.A.
6 to 9 years
Average risk-free interest rate 7.69% to 8.12%
Expected dividend yield 0%
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