Annual Report 2002 - Agfa

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
18. Employee benefits
continued
The following table summarizes information about the stock options outstanding at
December 31, 2002:
Options granted 416,950
Options forfeited during 2001 15,000
Options forfeited during 2002 0
Options outstanding at December 31, 2002 401,950
3. Long Term Incentive Plan (tranche no. 3)
On June 18, 2001 the Group established a stock option plan (the Long Term
Incentive Plan – tranche no. 3) for the members of the Board of Management of the
Company and executives employed at levels A, B and C of the Company or at
equivalent levels within the Group. “One” option gives the holder the right to buy
“one” ordinary share of the Company. In total 522,940 options were issued and
allocated to the beneficiaries of the plan. The options were offered free of charge. In
accordance with the program, the options are only exercisable as from July 6, 2004
until July 6, 2007, after which date they become null and void. The exercise price of
the options is equal to 20 Euros.
The shares subject to the stock option plan are covered by an equity swap
(285,790 shares) and shares held in treasury (218,150 shares).
The following table summarizes information about the stock options outstanding at
December 31, 2002:
Options granted 522,940
Options forfeited during 2001 19,000
Options forfeited during 2002 0
Options outstanding at December 31, 2002 503,940
4. Long Term Incentive Plan (tranche no. 4)
On June 17, 2002 the Group established a stock option plan (the Long Term
Incentive Plan – tranche no. 4) for the members of the Board of Management of the
Company and executives employed at levels A, B and C of the Company or at
equivalent levels within the Group. “One” option gives the holder the right to buy
“one” ordinary share of the Company. In total 600,300 options were issued and
allocated to the beneficiaries of the plan. The options were offered free of charge. In
accordance with the program, the options are only exercisable as from August 26,
2005 until August 26, 2008, after which date they become null and void.
The exercise price of the options is equal to 18 Euros.
The shares subject to the stock option plan are partially covered by shares held in
treasury (550,250 shares).
The following table summarizes information about the stock options outstanding at
December 31, 2002:
Options granted 600,300
Options forfeited during 2002 6,300
Options outstanding at December 31, 2002 594,000
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Agfa annual report 2002