Several factors contributed to the increase in the fair market
value of the common stock between the valuations performed on January 31, 2009 and July 31, 2009.
Stock appreciation rights allow the recipient to receive the appreciation in the fair market
value of our common stock between the exercise date and the date of grant.
Not exact matches
A
stock appreciation right entitles a participant to receive a payment, in cash,
common stock, or a combination
of both, in an amount equal to the difference
between the fair market
value of the
stock at the time
of exercise and the exercise price
of the award, which may not be lower than the fair market
value of the Company's
common stock on the day
of grant.
Therefore, if you purchase shares
of our Class A
common stock in this offering, you will experience immediate dilution
of $ per share, the difference
between the price per share you pay for our Class A
common stock and its pro forma net tangible book
value per share as
of September 30, 2010, after giving effect to the issuance
of shares
of our Class A
common stock in this offering.
A
stock appreciation right gives a participant the right to receive the appreciation in the fair market value of Company Common Stock between the date of grant of the award and the date of its exer
stock appreciation right gives a participant the right to receive the appreciation in the fair market
value of Company
Common Stock between the date of grant of the award and the date of its exer
Stock between the date
of grant
of the award and the date
of its exercise.
Dilution in pro forma net tangible book
value per share to investors purchasing shares
of our Class A
common stock in this offering represents the difference
between the amount per share paid by investors purchasing shares
of our Class A
common stock in this offering and the pro forma as adjusted net tangible book
value per share
of our Class A
common stock immediately after completion
of this offering.
If the shares
of common stock are sold or otherwise disposed
of before the end
of the one - year and two - year periods specified above, the difference
between the option exercise price and the fair market
value of the shares on the date
of the options» exercise will
Stock appreciation rights provide for a payment, or payments, in cash or shares of our Class A common stock, to the holder based upon the difference between the fair market value of our Class A common stock on the date of exercise and the stated exercise price at grant up to a maximum amount of cash or number of sh
Stock appreciation rights provide for a payment, or payments, in cash or shares
of our Class A
common stock, to the holder based upon the difference between the fair market value of our Class A common stock on the date of exercise and the stated exercise price at grant up to a maximum amount of cash or number of sh
stock, to the holder based upon the difference
between the fair market
value of our Class A
common stock on the date of exercise and the stated exercise price at grant up to a maximum amount of cash or number of sh
stock on the date
of exercise and the stated exercise price at grant up to a maximum amount
of cash or number
of shares.
Dilution is the difference
between the offering price per share and the pro forma net tangible book
value per share
of our Class A
common stock immediately after the offering.
Stock appreciation rights allow the recipient to receive the appreciation in the fair market value of our Class A common stock between the exercise date and the date of g
Stock appreciation rights allow the recipient to receive the appreciation in the fair market
value of our Class A
common stock between the exercise date and the date of g
stock between the exercise date and the date
of grant.
Stock appreciation rights provide for a payment, or payments, in cash or shares of our common stock, to the holder based upon the difference between the fair market value of our common stock on the date of exercise and the stated exercise price of the stock appreciation r
Stock appreciation rights provide for a payment, or payments, in cash or shares
of our
common stock, to the holder based upon the difference between the fair market value of our common stock on the date of exercise and the stated exercise price of the stock appreciation r
stock, to the holder based upon the difference
between the fair market
value of our
common stock on the date of exercise and the stated exercise price of the stock appreciation r
stock on the date
of exercise and the stated exercise price
of the
stock appreciation r
stock appreciation right.
Size: Banz, Rolf W. «The relationship
between return and market
value of common stocks» Journal
of Financial Economics» 1981.
While there is much that remains unknowable in financial markets, what we do know is that Graham's «big idea» — that a
common stock represents a fractional ownership interest in a business and that the essence
of investment is to attempt to exploit discrepancies
between the intrinsic
value of a business and its price in publicly traded markets — has empirically and practically worked over the long term.
«The Relationship
between Return and Market
Value of Common Stocks.»
The small - cap effect was detailed in a 1981 academic paper by Rolf W. Banz, then at Northwestern University («The Relationship
Between Return and Market
Value of Common Stocks,» Journal
of Financial Economics, Vol.