Matthews International Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Share Based Payments (Tables)

Share Based Payments (Tables)

6 Months Ended

Mar. 31, 2012

The transactions for restricted stock for the six months ended March 31, 2012 were as follows:

		Weighted-
		average
		grant-date
	Shares	fair value
Non-vested at September 30, 2011	541,613	$33.62
Granted	155,710	32.07
Vested	(148,003)	35.52
Expired or forfeited	(400)	31.45
Non-vested at March 31, 2012	548,920	32.67

Stock Option Activity

The transactions for shares under options for the six months ended March 31, 2012 were as follows:

			Weighted-
		Weighted-	average	Aggregate
		average	remaining	intrinsic
	Shares	exercise price	contractual term	value
Outstanding, September 30, 2011	872,514	$37.02
Granted	-	-
Exercised	(10,332)	25.64
Expired or forfeited	(8,500)	40.27
Outstanding, March 31, 2012	853,682	37.13	3.5	$ -
Exercisable, March 31, 2012	493,329	35.96	3.2	$ -

Non-vested Options Activity

The transactions for non-vested options for the six months ended March 31, 2012 were as follows:

		Weighted-average
		grant-date
Non-vested shares	Shares	fair value
Non-vested at September 30, 2011	367,586	$11.38
Granted	-	-
Vested	-	-
Expired or forfeited	(7,233)	12.28
Non-vested at March 31, 2012	360,353	11.36

Assumptions Used in Estimating Fair Value

The fair value of each restricted stock grant is estimated on the date of grant using a binomial lattice valuation model. The following table indicates the assumptions used in estimating fair value of restricted stock for the periods ended March 31, 2012 and 2011.

	Six Months Ended March 31,
	2012	2011
Expected volatility	30.4%	30.0%
Dividend yield	1.0%	1.0%
Average risk free interest rate	0.9%	1.2%
Average expected term (years)	2.0	2.0