2007 Reference document (PDF) - Valeo

5 Information
PAGE 178
on the Company and its capital
General information about the issuer
3.3. Information concerning stock options and share grants
3.3.1. Stock options granted and exercised during the year
No stock options were granted to Directors in 2007 apart from Thierry Morin , who did not exercise any stock options during the year.
Stock options granted to and exercised
by members of the Board of Directors
Options granted in 2007 by Valeo*
and/or other Group companies
2007 Reference document - VALEO
Number of options granted/
exercised
Options exercised in 2007 None
Weighted average
exercise price
Expiration
date
Date of Board
meeting
200,000 stock purchase options** €36.97 March 6, 2015 March 7, 2007
150,000 stock purchase options*** €36.82 Nov. 14, 2015 Nov. 15, 2007
*
No Group companies other than Valeo issued stock options during the year.
**
In view of the prohibited periods under the applicable French stock exchange regulations, in 2006 the Board of Directors did not grant any stock options to Thierry Morin
for that year. The 200,000 stock options set out in the table above were therefore allocated for 2006.
***
Allocated for 2007.
Stock options granted to and exercised
by the ten employees with the highest
number of options
Options granted in 2007 by Valeo*
and/or other Group companies to
the ten employees of Valeo or other
Group companies receiving the highest
number of options
Options exercised in 2007 by the ten
employees of Valeo or other Group
companies exercising the highest
number of options
Number of options granted/
exercised
Weighted average
exercise price
Expiration
date
Date of Board
meeting
50,000 stock purchase options
(1 beneficiary) €36.97 March 6, 2015 March 7, 2007
230,000 stock purchase options**
(13 beneficiaries***) €36.82 Nov. 14, 2015 Nov. 15, 2007
127,000 stock purchase/
subscription options €25.87
*
No Group companies other than Valeo issued stock options during the year.
**
Out of a total of 1,677,000 options allocated by the Board of Directors on November 15, 2007.
***
Twelve beneficiaries received the same number of shares in second position.
3.3.2. Share grants
No share grants were made to members of the Board of Directors
in 2007.
In accordance with the authorization granted in the fifteenth
resolution of the May 3, 2005 General Shareholders’ Meeting, on
March 7, 2007 the Board of Directors granted 100,000 existing Valeo
shares free of consideration to a restricted number of high-potential
managers, excluding corporate officers.
The vesting date for these shares was set by the Board of Directors at
March 7, 2010 (i.e. three years from the Board meeting at which the
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Nov. 24, 2010
March 30, 2011
Nov. 5, 2011
Dec. 7, 2012
Nov. 25, 2002
March 31, 2003
Nov. 6, 2003
Nov. 8, 2004
share grants were decided), provided that the beneficiaries hold an
employment contract with a Valeo Group company at that date.
Provided the above-mentioned condition is met, the beneficiaries
will become the owners of the shares granted free of consideration
on the vesting date and will have the same rights in relation thereto
as all other shareholders. They may not, however, sell the shares
received for a period of two years as from the vesting date.
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