registration document France Telecom 2009 - Orange.com

financial information concerning the issuer’s assets and liabilities, financial position and profits and losses
20
CONSOLIDATED STATEMENTS
27.3 Stock option plans
France Telecom S.A. – 2007 Plan
On May 21, 2007, France Telecom S.A. granted 10,093,300
stock options to certain executive offi cers and employees of
the Group. The options may be exercised during a period of
seven years beginning on May 21, 2010 and ending on May 21,
2017. The exercise price was set at 21.61 euros.
The shares acquired upon exercise of the options are subject
to a lock-up period ending on May 21, 2011. In addition, the
options will not be applied unless the benefi ciaries have been
employed by the Group for a period of at least three years
beginning on May 21, 2007.
TP S.A. - 2007 Plan
TP S.A. granted 6,047,710 stock options to certain executive
offi cers, exercisable for a period of seven years beginning on
October 9, 2010 and ending on October 9, 2017.
The exercise price was set at 5.26 euros (by considering the
closing exchange rate on December 31, 2009).
France Telecom S.A. – 2005 Plan
In 2005, France Telecom S.A. granted stock options to its
executive offi cers and employees. The scope of this plan was
enlarged in 2006 following the integration of the Amena group.
The options are exercisable for a period of ten years. The vesting
period is three years.
France Telecom S.A. (ex-Wanadoo)
Following the purchase of the non-controlling interests in
Wanadoo in September 2004, France Telecom undertook to
guarantee the liquidity of the Wanadoo stock option plans by
exchanging Wanadoo options for France Telecom S.A. options.
These options are exercisable for a period of ten years from
2006.
Orange
Orange stock option plans, which have been exercisable since
2006, can be split into four categories: “International”, “France”,
“USA” and “ Sharesave” .
Following the purchase of the non-controlling interests in
Orange, France Telecom proposed a liquidity contract to the
holders of Orange stock options and, in September 2005, it
issued liquidity instruments on options to facilitate the delivery
of France Telecom S.A.’s shares.
20
PLAN
Number
of options granted
December 31, 2009
Remaining term to
maturity (months)
End of vesting period
International 85,693,210 5 2006
France 45,983,363 7 to 37 2006
USA 3,621,755 4 2006
“Sharesave” UK Save – 5 years 4,037,379 - 2006
“Sharesave” UK Save – 3 years 5,839,507 - 2006
“Sharesave” Netherlands 232,186 - 2006
2009 REGISTRATION DOCUMENT / FRANCE TELECOM
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