2013 Registration document and annual financial report - page 244

Registration Document 2013
242
Financial Statemements
5
Consolidated Financial Statements And Notes
In 2011, the Plan 24’s performance criteria were not met. In 2012, the Plan 24’s performance criteria were met and the Plan 26’s performance
criteria were partially met. In 2013, the Plan 24’s performance criteria were partially met and the Plan 26’s performance criteria were not met.
Changes in outstanding stock options during 2012 and 2013 are as follows:
December 31, 2012
December 31, 2013
Number of
options
Weighted
average exercise
price
Number of
options
Weighted
average
exercise price
OPTIONS OUTSTANDING AT BEGINNING OF PERIOD
12,997,382
€30.13 11,587,420
€31.07
Options granted during the period
574,890
€26.41
40,000
€30.13
Options cancelled or expired during the period
(1,958,326)
€23.53
(2,754,880)
€31.08
Options exercised during the period
(26,526)
€22.41
(572,142)
€20.90
OPTIONS OUTSTANDING AT END OF PERIOD
11,587,420
€31.07 8,300,398
€31.77
OPTIONS EXERCISABLE AT END OF PERIOD
6,635,261
€35.46 4,704,861
€34.91
Outstanding options at December 31, 2013 are as follows:
Exercise
price
Number of
outstanding options
Remaining life
of the options
Plan 14
€45.52
1,925,535
3 months
Plan 15
€47.56
85,079
4 months
Plan 16
€40.08
2,139
1.7 years
Plan 17
€30.81
1,777,025
1.3 years
Plan 18
€28.32
102,544
1.8 years
Plan 19
€18.20
812,539
3.3 years
Plan 20
€26.66
2,169,979
4.3 years
Plan 21
€26.66
77,191
4.3 years
Plan 22
€30.49
92,448
5 years
Plan 23
€31.72
594,994
5.3 years
Plan 24
€31.72
53,125
5.3 years
Plan 25
€26.41
520,425
6.3 years
Plan 26
€26.41
47,375
6.3 years
Plan 27
€30.13
40,000
8 years
Fair value of options
The fair value of these options at the grant date has been determined
using the Black & Scholes or Monte Carlo option-pricing models,
based on data and assumptions that were valid at that date. The
information presented in this table for plans 12 to 21 (particularly
the exercise price, the share price at the grant date and the fair
value) has not therefore been adjusted for the effects of the July 2,
2010 demerger.
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