Larry Steffen: Valuing Stock Options in a Compensation Package

Exhibit 1 May 29, 2013 Closing Market Quotes for Call Options Written on Athena Common Stock

Call Options Expiring in 2013:

Exercise Expiration Date

Price 22-Jun-13 20-Jul-13 17-Aug-13 19-Oct-13

$20 $2.74 $2.85 $2.95 $3.23

$21 $1.83 $2.03 $2.18 $2.53
$22 $1.07 $1.36 $1.55 $1.91
$23 $0.52 $0.86 $1.07 $1.44
$24 $0.22 $0.51 $0.66 $1.04
$25 $0.09 $0.25 $0.42 $0.77

Long-Term Call Options:

Exercise Expiration Date

Price 18-Jan-14 17-Jan-15

$20 $3.63 $4.84

$21 $2.98 $4.33
$22 $2.47 $3.80
$23 $1.99 $3.45
$24 $1.62 $3.03
$25 $1.24 $2.63
Athena's closing common stock price on May 29, 2013 was $22.71.
Larry Steffen: Valuing Stock Options in a Compensation Package

Exhibit 2 Athena Common Stock Price Data

Date Year Price

20030131 2003 $16.02
20030228 2003 $18.35
20030331 2003 $21.14
20030430 2003 $21.80
20030530 2003 $26.26
20030630 2003 $28.78
20030731 2003 $27.39
20030829 2003 $29.38
20030930 2003 $31.14
20031031 2003 $38.46
20031128 2003 $37.83
20031231 2003 $38.31
20040130 2004 $39.58
20040227 2004 $38.58
20040331 2004 $40.45
20040430 2004 $41.39
20040528 2004 $26.98
20040630 2004 $32.03
20040730 2004 $27.10
20040831 2004 $25.09
20040930 2004 $29.84
20041029 2004 $31.85
20041130 2004 $33.11
20041231 2004 $33.16
20050131 2005 $30.98
20050228 2005 $28.40
20050331 2005 $29.83
20050429 2005 $30.36
20050531 2005 $32.74
20050630 2005 $30.49
20050729 2005 $29.34
20050831 2005 $29.32
20050930 2005 $30.22
20051031 2005 $33.41
20051130 2005 $36.28
20051230 2005 $35.36
20060131 2006 $30.25
20060228 2006 $28.21
20060331 2006 $28.39
20060428 2006 $28.85
20060531 2006 $27.80
20060630 2006 $29.04
20060731 2006 $23.88
20060831 2006 $25.37
20060929 2006 $22.25
20061031 2006 $23.18
20061130 2006 $23.77
20061229 2006 $22.48
20070131 2007 $24.91
20070228 2007 $27.16
20070330 2007 $27.54
20070430 2007 $24.68
20070531 2007 $25.26
20070629 2007 $23.87
20070731 2007 $20.46
20070831 2007 $20.00
20070928 2007 $23.62
20071031 2007 $27.37
20071130 2007 $23.59
20071231 2007 $20.91
20080131 2008 $19.08
20080229 2008 $24.45
20080331 2008 $25.46
20080430 2008 $24.12
20080530 2008 $23.55
20080630 2008 $18.18
20080731 2008 $17.50
20080829 2008 $17.05
20080930 2008 $15.22
20081031 2008 $13.48
20081128 2008 $11.67
20081231 2008 $11.18
20090130 2009 $11.03
20090227 2009 $12.08
20090331 2009 $11.71
20090430 2009 $12.58
20090529 2009 $13.94
20090630 2009 $13.78
20090731 2009 $12.60
20090831 2009 $12.86
20090930 2009 $15.67
20091030 2009 $13.99
20091130 2009 $13.17
20091231 2009 $14.77
20100129 2010 $13.21
20100226 2010 $13.91
20100331 2010 $14.99
20100430 2010 $15.07
20100528 2010 $13.94
20100630 2010 $12.80
20100730 2010 $13.09
20100831 2010 $11.98
20100930 2010 $12.47
20101029 2010 $14.51
20101130 2010 $13.92
20101231 2010 $14.63
20110131 2011 $14.19
20110228 2011 $14.43
20110331 2011 $14.68
20110429 2011 $15.58
20110531 2011 $14.56
20110630 2011 $13.24
20110729 2011 $11.97
20110831 2011 $12.59
20110930 2011 $12.55
20111031 2011 $13.76
20111130 2011 $13.82
20111230 2011 $14.19
20120131 2012 $13.61
20120229 2012 $13.05
20120330 2012 $13.39
20120430 2012 $13.68
20120531 2012 $13.41
20120629 2012 $14.11
20120731 2012 $13.06
20120831 2012 $12.54
20120928 2012 $14.06
20121031 2012 $14.81
20121130 2012 $16.52
20121231 2012 $17.95
20130131 2013 $17.36
20130228 2013 $18.75
20130329 2013 $21.32
20130430 2013 $21.59
20130529 2013 $22.71
Larry Steffen: Valuing Stock Options in a Compensation Package

Exhibit 3 Athena Common Stock Annualized Standard Deviation

of Daily Returns Data, Measured Over the Prior 3 Months Trading

Annualized
Standard
Date Year Deviation
20030131 2003
20030228 2003
20030331 2003
20030430 2003 41%
20030530 2003 44%
20030630 2003 44%
20030731 2003 46%
20030829 2003 42%
20030930 2003 38%
20031031 2003 39%
20031128 2003 43%
20031231 2003 42%
20040130 2004 35%
20040227 2004 28%
20040331 2004 31%
20040430 2004 49%
20040528 2004 111%
20040630 2004 110%
20040730 2004 108%
20040831 2004 43%
20040930 2004 42%
20041029 2004 33%
20041130 2004 28%
20041231 2004 26%
20050131 2005 30%
20050228 2005 29%
20050331 2005 29%
20050429 2005 27%
20050531 2005 26%
20050630 2005 26%
20050729 2005 32%
20050831 2005 31%
20050930 2005 31%
20051031 2005 23%
20051130 2005 29%
20051230 2005 30%
20060131 2006 40%
20060228 2006 35%
20060331 2006 36%
20060428 2006 28%
20060531 2006 32%
20060630 2006 31%
20060731 2006 52%
20060831 2006 51%
20060929 2006 55%
20061031 2006 34%
20061130 2006 35%
20061229 2006 26%
20070131 2007 31%
20070228 2007 31%
20070330 2007 32%
20070430 2007 34%
20070531 2007 39%
20070629 2007 37%
20070731 2007 31%
20070831 2007 25%
20070928 2007 30%
20071031 2007 39%
20071130 2007 47%
20071231 2007 46%
20080131 2008 48%
20080229 2008 104%
20080331 2008 105%
20080430 2008 100%
20080530 2008 48%
20080630 2008 48%
20080731 2008 58%
20080829 2008 45%
20080930 2008 55%
20081031 2008 67%
20081128 2008 93%
20081231 2008 93%
20090130 2009 85%
20090227 2009 64%
20090331 2009 55%
20090430 2009 52%
20090529 2009 46%
20090630 2009 42%
20090731 2009 45%
20090831 2009 41%
20090930 2009 40%
20091030 2009 31%
20091130 2009 30%
20091231 2009 25%
20100129 2010 21%
20100226 2010 23%
20100331 2010 23%
20100430 2010 27%
20100528 2010 34%
20100630 2010 36%
20100730 2010 37%
20100831 2010 30%
20100930 2010 28%
20101029 2010 26%
20101130 2010 29%
20101231 2010 28%
20110131 2011 26%
20110228 2011 24%
20110331 2011 30%
20110429 2011 30%
20110531 2011 34%
20110630 2011 30%
20110729 2011 34%
20110831 2011 48%
20110930 2011 53%
20111031 2011 57%
20111130 2011 44%
20111230 2011 40%
20120131 2012 31%
20120229 2012 27%
20120330 2012 21%
20120430 2012 20%
20120531 2012 20%
20120629 2012 21%
20120731 2012 20%
20120831 2012 19%
20120928 2012 20%
20121031 2012 22%
20121130 2012 19%
20121231 2012 19%
20130131 2013 19%
20130228 2013 21%
20130329 2013 23%
20130430 2013 23%
20130529 2013 24%
Larry Steffen: Valuing Stock Options in a Compensation Package

Exhibit 4 Market Yields on U.S. Treasury Securities as of May 29, 2013

Maturity Annualized Yield

1 month 0.04%
3 months 0.05%
6 months 0.08%
1 year 0.14%
2 years 0.30%
3 years 0.49%
5 years 1.02%
7 years 1.51%
10 years 2.13%
20 years 2.91%
30 years 3.27%

source: www.treasury.gov