Virtual Limited granted on 1st April, 2011, 1,00,000 Employees Stock Options at 40, when the market price
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Virtual Limited granted on 1st April, 2011, 1,00,000 Employees Stock Options at ₹40, when the market price was ₹60. These options will vest at the end of year 1, if the earnings of Virtual Limited is more than 15% or it will vest at the end of the year 2, if the average earnings of two years is more than 12% or lastly it will vest at the end of the third year, if the average earnings of 3 years will be 9% or more. 6,000 unvested options lapsed on 31st March, 2012. 6,500 unvested options lapsed on 31st March, 2013 and finally 3,000 unvested options lapsed on 31st March, 2014. The earnings of Virtual Limited was as follows :
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Based on the information given the following are the number of options that vested and lapsed Therefore a total of 2000 options vested and 15500 optio...View the full answer
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