Under IFRS, how are share appreciation rights (SARs) initially recognized and measured?

Question 12 options:

a)	They are measured at fair value on the grant date using an option-pricing model.

b)	They are measured at the market price of the companys shares on the grant date.

c)	They are measured at the future purchase price of the shares when the options are exercised.

d)	They are measured at the market price of the companys shares on the exercise date.