PDF (2.63 MB) - Geberit International AG

The 17,708 shares required for these plans were held by the Group as treasury shares.
As of 31 December 2004, active managers and employees together owned 240,526
(2003: 285,313) shares, i.e. 5.8% (2003: 6.9 %) of the share capital of Geberit AG. 0.1% of
the decrease of 1.1% is due to personnel leaving the Group and retirements.
Option plans
Each of the shares purchased in connection with the Management share plans 2004 provided
the Geberit management with one option to purchase an additional share in the ratio 1:1.
For the Mapress management the ratio was 2:1, i.e. 2 options for 1 share. The exercise price
of the options is equal to the price at which the underlying shares were allocated for the
Geberit management and CHF 525 for the Mapress management, respectively. The options
can be exercised after blocking periods of one to two years. They lapse if not exercised after
five years from grant date.
In connection with an additional option plan (“Option plan 2004”), the top-management of the
Group was entitled to additional options with a time to maturity of five years and a blocking
period of two and four years, respectively.
The following is a summary of the options allocated in 2004:
End of Maturity Number of Number Average exercise
blocking participants of options price
period allocated CHF
Management
share plans 2004 2005–2006 2009 68 21,142 591.05
Option plan 2004 type A 2006 2009 53 6,645 682.00
Option plan 2004 type B 2008 2009 53 6,645 714.50
Total 34,432
The following table summarises all option plans in place as of 31 December 2004:
End of Maturity Number Average Number Average
blocking of options exercise price of options in exercise price
period outstanding CHF the money* CHF
lapsed 2005–2007 3,892 430.73 3,892 430.73
2005 2006–2009 29,895 444.40 29,895 444.40
2006 2007–2009 25,320 562.63 25,320 562.63
2007 2008 7,797 450.00 7,797 450.00
2008 2009 5,376 714.50 5,376 714.50
Total 72,280 505.95 72,280 505.95
*As per 31 December 2004 and considering knock-in clauses
In 2004, 25,471 options were exercised at an average price of CHF 391.19. 12,074 options
lapsed as managers left the Group and 5,129 options became worthless. The 72,280 options
outstanding represent 1.7 % of the share capital of Geberit AG.
Geberit Group 71