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, 2013

The transactions for restricted stock for the six months ended March 31, 2013 were as follows:

				Weighted-
				average
				grant-date
	Shares			fair value
Non-vested at September 30, 2012		551,389		$	32.56
Granted		236,500			25.22
Vested		(73,710	)		37.31
Expired or forfeited		(42,956	)		30.82
Non-vested at March 31, 2013		671,223			29.57

Stock option activity

The transactions for shares under options for the six months ended March 31, 2013 were as follows:

						Weighted-
				Weighted-		average		Aggregate
				average		remaining		intrinsic
	Shares			exercise price		contractual term		value
Outstanding, September 30, 2012		840,282		$	37.15
Granted		-			-
Exercised		(23,141	)		22.59
Expired or forfeited		(47,683	)		37.09
Outstanding, March 31, 2013		769,458			37.60		2.6	$	-
Exercisable, March 31, 2013		433,220			36.69		2.4	$	-

Non-vested options activity

The transactions for non-vested options for the six months ended March 31, 2013 were as follows:

				Weighted-average
				grant-date
Non-vested shares	Shares			fair value
Non-vested at September 30, 2012		355,872		$	11.35
Granted		-			-
Vested		-			-
Expired or forfeited		(19,634	)		12.16
Non-vested at March 31, 2013		336,238			11.30

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, 2013 and 2012.

	Six Months Ended March 31,
	2013			2012
Expected volatility		29.5	%		30.4	%
Dividend yield		1.2	%		1.0	%
Average risk free interest rate		0.6	%		0.9	%
Average expected term (years)		2.0			2.0