2007 Interactive Registration Document - Renault
2007 Interactive Registration Document - Renault
2007 Interactive Registration Document - Renault
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07 CONSOLIDATED<br />
FINANCIAL STATEMENTS<br />
FINANCIAL STATEMENTS<br />
Changes in the number of stock options held by personnel<br />
QUANTITY<br />
WEIGHTED<br />
AVERAGE<br />
EXERCISE PRICE<br />
(€)<br />
WEIGHTED AVERAGE SHARE<br />
PRICE AT GRANT AND<br />
EXERCISE DATES (€) QUANTITY<br />
<strong>2007</strong> 2006<br />
WEIGHTED<br />
AVERAGE<br />
EXERCISE PRICE<br />
(€)<br />
WEIGHTED AVERAGE SHARE<br />
PRICE AT GRANT AND<br />
EXERCISE DATES (€)<br />
Outstanding at January 1 16,539,634 66 13,299,707 54<br />
Granted 2,018,300 95 96 5,096,400 89 88<br />
Exercised (2,268,502) 47 99 (1,856,473) 46 86<br />
Expired (66,500) 67 100 - - -<br />
Outstanding at December 31 16,222,932 72 16,539,634 66<br />
Options and free share attribution rights yet to be exercised at December 31, <strong>2007</strong><br />
N° PLAN TYPE OF PLAN GRANT DATE EXERCISE PRICE (€) OUTSTANDING EXERCISE PERIOD<br />
Plan 2 Stock purchase options October 28, 1997 24. 89 - October 29, 2002 – October 27, <strong>2007</strong><br />
Plan 3 Stock purchase options October 27, 1998 32. 13 243,769 October 28, 2003 – October 26, 2008<br />
Plan 4 Stock purchase options March 16, 1999 40. 82 20,000 March 17, 2004 – March 15, 2009<br />
Plan 5 Stock purchase options October 19, 1999 50. 94 356,714 October 20, 2004 – October 18, 2009<br />
September 7, 2000<br />
49. 27<br />
September 8, 2005 – September 6, 2010<br />
Plan 6 Stock purchase options<br />
and October 24, 2000<br />
49. 57 486,774 October 25, 2005 – October 23, 2010<br />
Plan 7 Stock purchase options December 18, 2001 48. 97 968,741 December 19, 2006 – December 17, 2011<br />
Plan 8 Stock purchase options September 5, 2002 49. 21 1,609,007 September 6, <strong>2007</strong> – September 4, 2012<br />
Plan 9 Stock purchase options September 8, 2003 53. 36 1,700,484 September 9, <strong>2007</strong> – September 7, 2011<br />
Plan 10 Stock subscription options September 14, 2004 66. 03 2,128,650 September 15, 2008 – September 13, 2012<br />
Plan 11 Stock subscription options September 13, 2005 72. 98 1,618,593 September 14, 2009 – September 12, 2013<br />
Plan 12 Stock subscription options May 4, 2006 and May 12, 2006 and June 30, 2006 87. 98 1,663,200 May 5, 2010 – May 5, 2014<br />
Plan 13 Stock subscription options May 4, 2006 and May 12, 2006 and July 17, 2006 87. 98 2,728,700 May 5, 2010 – May 5, 2014<br />
Plan 13 bis Attribution of free shares May 12, 2006 and July 17, 2006 - 1,374 ,5 00 May 5, 2012 (1)<br />
December 5, 2006<br />
Plan 14 Stock subscription options<br />
and February 19, <strong>2007</strong> 93. 86 1,843,300 December 6, 2010 – December 4, 2014<br />
Plan 15 (2) Stock subscription options December 5, <strong>2007</strong> 96. 54 695,000 December 6, 2011 – December 5, 2015<br />
Plan 16 (2) Stock subscription options December 5, <strong>2007</strong> 96. 54 160,000 December 6, 2011 – December 5, 2015<br />
Plan 16 bis (2) Attribution of free shares December 5, <strong>2007</strong> - 60,000 December 6, 2013 (1)<br />
(1) The free shares will be delivered to employees on May 5, 2010 and December 6, 2011 respectively for plans 13 and 16 bis, and must be held a minimum of two years before resale.<br />
(2) 695,000 options, 160,000 options and 60,000 free shares respectively had been attributed at December 31, <strong>2007</strong> under plans 15, 16 and 16 bis. The total authorised by the Board of Directors is 2,080,000<br />
options, 797,787 options and 132,166 free shares respectively.<br />
The grant date is the date at which benefi ciaries are informed of the decision<br />
to grant these options or shares, and the terms of the relevant plans.<br />
H – Share-based payments<br />
Share-based payments exclusively concern stock options and free shares<br />
awarded to personnel.<br />
Plan values<br />
The options awarded under these plans only become vested after a period of<br />
fi ve years for plans 1 to 8, and four years for plans 9 to 16. For stock option<br />
< TABLE OF CONTENTS ><br />
plans, the exercise period then covers fi ve years for plans 1 to 8 and four years<br />
for plans 9 to 16. Loss of the benefi t of these options follows the applicable<br />
regulations: all options are forfeited in the event of resignation, and a decision<br />
is made for each individual case when an employee leaves at the company’s<br />
instigation.<br />
The valuation method follows a suitable binomial mathematical model, with<br />
exercise of the options anticipated and spread over the exercise period on a<br />
straight-line basis. The volatility factor applied is implicit volatility at the grant<br />
date. The dividend used is determined by reference to the dividend payout<br />
schedule contained in the <strong>Renault</strong> Commitment 2009 plan.<br />
214 <strong>Registration</strong> <strong>Document</strong> <strong>Renault</strong> <strong>2007</strong><br />
Find out more at www.renault.com<br />
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