Stock Options Notes To Consolidated Financial Statements Myers Industries, Inc. and Subsidiaries For The Years Ended December 31, 2001, 2000 and 1999 In 1999, the Company and its shareholders adopted the 1999 Stock Plan allowing key employees to purchase Common Stock of the Company at the market price on the date of grant. The plan provides that stock options expire five years from date of grant and are exercisable up to 20 percent  of the shares granted each year. At December 31, 2001 there were 1,336,289 stock option shares available for future grant. The activity listed below covers the 1999 Stock Plan, the 1997 Incentive Stock Plan and the 1992 Stock Option Plan. Options granted during the past three years: Year Shares Price 2001 240,129 $10.45 to $13.00 2000 13,200 $10.23 to $11.36 1999 281,590 $10.95 to $17.37 Year Shares Price 2001 57,671 $10.45 to $12.29 2000 24,430 $8.92 to $10.15 1999 111,411 $8.85 to $12.92 Year Outstanding Price Exercisable 2001 946,661 $10.23 to $19.73 596,556 2000 821,049 $10.23 to $19.73 511,615 1999 866,553 $8.92 to $19.73 336,324 Options exercised during the past three years: Options outstanding and exercisable at December 31,  2001, 2000 and 1999 were as follows: In calculating the pro-forma compensation expense under SFAS 123 the Company assumes that all options issued will vest and be exercised at the expiration date of the grant. The compensation amount is determined using the Black- Scholes option pricing model with certain variables including an assumed risk free interest rate of 4.85 percent, a dividend yield of 2 percent on the shares and a volatility measure based on the Company’s stock beta of .90. The Company accounts for stock options under APB  Opinion No. 25 and, therefore, does not recognize employee compensation for options granted using the fair value method set forth in the FASB Statement No.123 “Accounting for Stock-Based Compensation.” If the Company had followed FASB 123 rather that APB 25, net income would  not have been materially different than the reported amounts and earnings per share would be identical for 2001, 2000 and 1999. 27