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94
Hamon Annual Report 2010
33. Share-based compensation (stock options)
The Board of Directors, with the approval of the Extraordinary
General shareholders meeting of 27 May 2008,
decided to grant a stock option plan to the managers of
the Group (around 40 persons) with the goal of focusing
them on the long-term development of the Group.
The details of these plans are as follows:
Stock option plans granted by the company
Plan Beneficiaries Grant date End date Exercise exercice Outstanding options at
Price Periods 31/12/2010 31/12/2009 31/12/2008
ESOP 2008 (B+G) Belgium and 27/05/08 26/05/15 33,58 From 2012 to 2015, 17 050 17 050 17 050
Germany from 15 March till 31
May and from 15 Sept.
to 15 November
ESOP 2008 (F) France 6/10/08 26/05/15 29,71 In 2012 from 6 October 5 500 5 500 5 500
to 15 November; from
2013 to 2015 from 15
March to 31 May and
from 15 September
to 15 November
Total 22 550 22 550 22 550
Each option is a right to buy a Hamon share at the price
and dates indicated. This right can only be exercised if
the beneficiary is still working for the Group at the date
of the exercise period. The American management of
the Group benefit from ‘Phantom stock options’ under
the same conditions as the French Management. These
phantom options are thus a plan of which the settlement
is made through payment and not shares.
Stock Option Plan
2010 2009 2008
Number of Average Number of Average Number of Average
share options exercise price share options exercise price share options exercise price
Number of stock options as of 1st January 22 550 32,64 22 550 32,64 0
Stock options granted 0 0,00 0 0,00 22 550 32,64
Forfeitures of rights & options expired 0 0,00 0 0,00 0 0,00
Stock options exercised 0 0,00 0 0,00 0 0,00
Stock options expired 0 0,00 0 0,00 0 0,00
Number of stock options as of 31 December 22 550 32,64 22 550 32,64 22 550 32,64
Stock options exercisable as of 31 December 0 0,00 0 0,00 0 0,00