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Business, 15.02.2021 23:10 knela

The Cansler Corporation provides an executive stock option plan. Under the plan, the company granted options on July 1, 2015, that permit executives to acquire 15 million of the company's $3 par value common shares within the next 8 years, but not prior to June 30, 2018 (the vesting date). The exercise price is the market price of the shares on the date of the grant, $12 per share. The fair value of the options, estimated by an appropriate model, is $9.50 per option. On September 15, 2019, 10 million options are exercised to purchase 10 million shares. Prepare the necessary journal entry to record this transaction.

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The Cansler Corporation provides an executive stock option plan. Under the plan, the company granted...

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