Parameters used to determine fair value—Tim Participações S.A.
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Plans/Parameters |
Exercise price (reais) |
Volatility | Period | Expected dividends (reais) |
Risk-free interest rate |
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Stock option plan 2011 |
8.84 | 51.73% | 6 years | — | 11.94% per annum | |||||||||||||||
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Stock option plan 2012 |
8.96 | 50.46% | 6 years | — | 8.89% per annum | |||||||||||||||
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Stock option plan 2013 |
8.13 | 48.45% | 6 years | — | 10.66% per annum | |||||||||||||||
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Stock option plan 2014 |
13.42 | 44.6% | 6 years | — | 10.66% per annum | |||||||||||||||
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Stock option plan 2015 |
8.45 | 35.5% | 6 years | — | 16.10% per annum | |||||||||||||||
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Stock option plan 2016 |
8.10 | 36.70% | 6 years | — | 11.73% per annum | |||||||||||||||
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