Does a stock option have value when it is not matured as of the date of valuation?

New Brunswick, Canada

The following excerpt is from Miller v. Miller, 2003 NBCA 37 (CanLII):

In Buttrum v. Buttrum it was argued that stock options had no value because the right to exercise the option had not matured as of the date of valuation. The trial judge rejected the argument. She held that, while the option lacked intrinsic value because the exercise price exceeded the market price on the valuation date (out of the money), there was still the time-value component. The trial judge accepted that the "value to owner" concept was more appropriate than a “fair market” approach.

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