NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONT’D) 86 HIGH LINER FOODS INCORPORATED The range of exercise prices for options outstanding at the end of the period was CAD$6.90 – CAD$34.77 (December 29, 2012: CAD$6.90  – CAD$19.68). The weighted average fair value of options granted during the fifty-two weeks ended December 28, 2013, was CAD$34.77 (fifty-two weeks  ended December 29, 2012: CAD$18.84). (1) 2013 includes 79,490 options exercised for 58,351 shares via the cashless exercise method, and 98,590 options exercised for 98,590 shares, totaling 156,941 shares  received for exercise of options. In 2012, there were no options exercised via the cashless exercise method. The following table illustrates the number (“No.”) and weighted average exercise prices (“WAEP”) of, and movements in, share options  during the period: The expected life of the share options and SARs is based on historical data and current expectations and is not necessarily indicative of  exercise patterns that may occur. The expected volatility reflects the assumption that the historical volatility over a period similar to the  life of the options is indicative of future trends, which may also not necessarily be the actual outcome. The following range of inputs and assumptions were used in the trinomial option pricing model in calculating the fair value of each grant of  options as follows: December 28, December 29,  Options granted between February 2007 and February 2013 2013 2012 Dividend yield (%) 1.25–2.02 1.36–2.02 Expected volatility (%) 25.65–38.78  22.97–36.32 Risk-free interest rate (%) 1.00–1.98 1.13–1.38 Expected life (years) 0.14–6.00 0.98–5.25 Weighted average fair value (CAD$)  5.31–39.06 5.32–24.00 December 28, 2013 December 29, 2012 No.  WAEP (CAD$) No.  WAEP (CAD$) Options with SARs: Outstanding, beginning of period  702,643 $ 14.14 675,250 $ 11.10 Granted — — 233,793 18.78 Exercised for shares  (47,838) 16.41 (71,023) 9.18 Exercised for cash  (139,819) 12.68 (133,877) 9.47 Canceled or forfeited  — — (1,500) 18.78 Reinvested as options without SARs  (409,649) 14.20 — — Outstanding, end of period  105,337 $ 14.85 702,643 $ 14.14 Exercisable, end of period  71,937 $ 13.54 394,565 $ 11.20 Options without SARs: Outstanding, beginning of period  15,750 $ 19.68 — $ — Granted 161,496 34.77 15,750 19.68 Exercised for shares  (130,242) 11.87 — — Options reinvested without SARs  409,649 14.20 — — Outstanding, end of period  456,653 $ 22.33 15,750 $ 19.68 Exercisable, end of period  168,670 $ 14.19 — $ — Total options: Outstanding, beginning of period  718,393 $ 14.27 675,250 $ 11.10 Granted 161,496 34.77 249,543 18.84 Exercised for shares (1) (178,080) 13.09 (71,023) 9.18 Exercised for cash  (139,819) 12.68 (133,877) 9.47 Canceled or forfeited  — — (1,500) 18.78 Outstanding, end of period  561,990 $ 20.93 718,393 $ 14.27 Exercisable, end of period  240,607 $ 14.00 394,565 $ 11.02