2014 Registration Document and Annual Financial Report - page 228

Financial Statemements
Consolidated Financial Statements and Notes
5
Changes in outstanding stock options during 2013 and 2014 are as follows:
December 31, 2013
December 31, 2014
Number
of options
Weighted
average
exercise price
Number
of options
Weighted
average
exercise price
OPTIONS OUTSTANDING AT BEGINNING OF PERIOD
11,587,420
€31.07 8,300,398
€31.77
Options granted during the period
40,000
€30.13
-
-
Options cancelled or expired during the period
(2,754,880)
€31.08
(2,093,547)
€44.92
Options exercised during the period
(572,142)
€20.90
(1,684,989)
€27.46
OPTIONS OUTSTANDING AT END OF PERIOD
8,300,398
€31.77 4,521,862
€27.29
OPTIONS EXERCISABLE AT END OF PERIOD
4,704,861
€34.91
3,314,855
€26.57
Outstanding options at December 31, 2014 are as follows:
Exercise
price
Number of
outstanding options
Remaining life
of the options
Plan 16
€40.08
2,139
8 months
Plan 17
€30.81
967,560
3 months
Plan 18
€28.32
31,320
9 months
Plan 19
€18.20
559,862
2 years and 3 months
Plan 20
€26.66
1,584,335
3 years and 3 months
Plan 21
€26.66
77,191
3 years and 3 months
Plan 22
€30.49
92,448
3 years and 11 months
Plan 23
€31.72
582,864
4 years and 3 months
Plan 24
€31.72
33,203
4 years and 3 months
Plan 25
€26.41
503,565
5 years and 3 months
Plan 26
€26.41
47,375
5 years and 3 months
Plan 27
€30.13
40,000
6 years and 9 months
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 14 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.
Registration Document 2014
226
1...,218,219,220,221,222,223,224,225,226,227 229,230,231,232,233,234,235,236,237,238,...332
Powered by FlippingBook