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Deutsche Bank 02 – Consolidated Financial Statements 294 Financial Report 2010 Additional Notes 32 – Share-Based Compensation Plans The following table summarizes the main features related to performance options granted under the pre-2004 Global Share Plan and the Global Partnership Plan. Plan Grant Year Exercise price Additional Partnership Appreciation Rights (PAR) Exercisable until Eligibility Global Share Plan (pre-2004) 2002 € 55.39 No Nov 2008 All employees Performance Options 1 2003 € 75.24 No Dec 2009 All employees 1 Global 2002 € 89.96 Yes Feb 2008 Select executives Partnership Plan 2003 € 47.53 Yes Feb 2009 Select executives Performance Options 2004 € 76.61 Yes Feb 2010 Group Board 1 Participant must have been active and working for the Group for at least one year at date of grant. Under both plans, the option represents the right to purchase one Deutsche Bank common share at an exercise price equal to 120 % of the reference price. This reference price was set as the higher of the fair market value of the common shares on the date of grant or an average of the fair market value of the common shares for the ten trading days on the Frankfurt Stock Exchange up to, and including, the date of grant. Performance options under the Global Partnership Plan were granted to select executives in the years 2002 to 2004. Participants were granted one Partnership Appreciation Right (PAR) for each option granted. PARs represent a right to receive a cash award in an amount equal to 20 % of the reference price. The reference price was determined in the same way as described above for the performance options. PARs vested at the same time and to the same extent as the performance options. They are automatically exercised at the same time, and in the same proportion, as the performance options. Performance options under the Global Share Plan (pre-2004), a broad-based employee plan, were granted in the years 2002 to 2003. The plan allowed the purchase of up to 20 shares in both 2002 and 2003. For each share purchased, participants were granted five performance options in 2002 and 2003. Performance options under the Global Share Plan (pre-2004) are forfeited upon termination of employment. Participants who retire or become permanently disabled retain the right to exercise the performance options. Activity for Performance Options The following table summarizes the activity for performance options granted under the Global Partnership Plan and the DB Global Share Plan (pre-2004). in thousands of units (except per share data) Global Partnership Plan Performance Options Weighted-average exercise price 1 DB Global Share Plan (pre-2004) Performance Options Weighted-average exercise price Balance as of December 31, 2008 980 € 47.53 510 € 75.24 Exercised – – – – Forfeited – – (9) € 75.24 Expired (980) € 47.53 (501) € 75.24 Balance as of December 31, 2009 – – – – Exercised – – – – Forfeited – – – – Expired – – – – Balance as of December 31, 2010 – – – – 1 The weighted-average exercise price does not include the effect of the Partnership Appreciation Rights for the DB Global Partnership Plan.
Deutsche Bank 02 – Consolidated Financial Statements 295 Financial Report 2010 Additional Notes 32 – Share-Based Compensation Plans The weighted average share price at the date of exercise was € 64.31 in the year ended December 31, 2008. As of December 31, 2009 no more performance options were outstanding since those granted in 2004 were already exercised and all others not previously exercised expired in 2009. Compensation Expense Compensation expense for awards classified as equity instruments is measured at the grant date based on the fair value of the share-based award. Compensation expense for share-based awards payable in cash is re-measured to fair value at each balance sheet date, and the related obligations are included in other liabilities until paid. For awards granted under the cash plan version of the DB Equity Plan and DB Global Share Plan, re-measurement is based on the current market price of Deutsche Bank common shares. A further description of the underlying accounting principles can be found in Note 01 “Significant Accounting Policies”. The Group recognized compensation expense related to its significant share-based compensation plans as follows: in € m. 2010 2009 2008 DB Global Partnership Plan 1 4 10 DB Global Share Plan/DB Global Share Purchase Plan 3 6 39 DB Share Scheme/Restricted Equity Units Plan/DB KEEP/DB Equity Plan 1,173 637 1,249 Total 1,177 647 1,298 Of the compensation expense recognized in 2010, 2009 and 2008 approximately € 24 million, € 22 million and € 4 million, respectively, was attributable to the cash-settled variant of the DB Global Share Plan and the DB Equity Plan. Share-based payment transactions which will result in a cash payment give rise to a liability, which amounted to approximately € 33 million, € 26 million and € 10 million for the years ended December 31, 2010, 2009 and 2008 respectively. As of December 31, 2010, 2009 and 2008, unrecognized compensation cost related to non-vested share-based compensation was approximately € 1.0 billion, € 0.4 billion and € 0.6 billion respectively.
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Global presence Close to our client
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The uncertainty of our times remind
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Deutsche Bank Financial Report 2010
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Management Report and Report of the
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Confirmations Independent Auditors
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2011 April 28, 2011 Interim Report
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