report

Granting year
of tranche
The annual tranches still outstanding are detailed in the following table:
Number of
outstanding
options at
1 Jan. 2011
Number of
granted
options
Number of
expired
options
Number of
exercised
options
48
Number of
outstanding
options at
31 Dec.2011
Exercise
price in CHF
Duration
until
2011 – 89 267 – – 89 267 33.90 2016 2014
2010 103 644 – (4 003) – 99 641 42.85 2015 2013
2009 104 321 – (1 043) – 103 278 39.50 2014 2012
2008 84 233 – (172) – 84 061 65.05 2013 2011
2007 76 021 – – – 76 021 119.00 2012 2010
2006 81 242 – (81 242) – – 90.00 2011 2009
Total 449 461 89 267 (86 460) – 452 268
Further allocations under this plan are usually determined at the meeting held by the
Board of Directors to discuss the half-year financial statements. The exercise price
is determined by the volume-weighted closing price on the 30 trading days prior to
the allocation date and the ten trading days after this date.
The changes in the number of outstanding share options and the relevant weighted
average exercise prices are shown in the following table:
2011
Weighted
average
exercise
price in CHF
2011
Number of
options
2010
Weighted
average
exercise
price in CHF
Vesting
period
until
2010
Number of
options
Balance at 1 January 67.64 449 461 76.72 434 907
Granted options 33.90 89 267 42.85 103 644
Expired options 87.16 (86 460) 83.14 (89 090)
Exercised options – – – –
Balance at 31 December 57.24 452 268 67.64 449 461
Exercisable at 31 December 99.51 160 082 100.13 157 263
In the 2011 financial year as well as in the previous financial year no options were
exercised. Therefore a disclosure of corresponding weighted average share prices is
inapplicable.
The above-mentioned tranches are serviced exclusively by treasury shares purchased
by the Charles Vögele Group for this purpose (see Note 32).