ANNUAL REPORT 2012 - TiGenix
ANNUAL REPORT 2012 - TiGenix
ANNUAL REPORT 2012 - TiGenix
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Number of options Total Options issued in Options issued in<br />
Grant date 2010 2008<br />
Number of options created 221,508 420,718<br />
Weighted average exercise price (EURO) 0,01 5,29<br />
Fair value at grant date (EURO) 2,30 6,36<br />
Expiry date 30/09/16 30/09/16<br />
Balance at acquisiton date 642,226 221,508 420,718<br />
Granted 0 0 0<br />
Forfeited 0 0 0<br />
Exercised 0 0 0<br />
Expired 0 0 0<br />
Balance at December 31, 2011 642,226 221,508 420,718<br />
Granted 0 0 0<br />
Forfeited 0 0 0<br />
Exercised 0 0 0<br />
Expired 0 0 0<br />
Balance at December 31, <strong>2012</strong> 642,226 221,508 420,718<br />
Number of options Total Options issued in<br />
Grant date <strong>2012</strong> 2011 2010 2009 2008<br />
Number of options created 642,226 0 0 221,508 0 420,718<br />
Value of the vested options EBIP 2008 2,677,065 99,043 487,947 589,673 835,552 664,850<br />
Value of the vested options EBIP 2010 508,482 164,786 305,984 37,712 0 0<br />
Value of the options pending to be vested 0 0 0 0 0<br />
Forfeited 0 0 0 0 0<br />
Exercised 0 0 0 0 0<br />
Expired 0 0 0 0 0<br />
Balance at December 31, <strong>2012</strong> 3,185,547 263,829 793,931 627,385 835,552 664,850<br />
The fair value of each stock option is<br />
estimated on the date of grant using the<br />
Black Scholes model with the following<br />
assumptions :<br />
- The volatility of <strong>TiGenix</strong> SAU (determined at<br />
55 %).<br />
- Weighted average risk-free interests rates<br />
based on German Sovereign bond at the<br />
date of grant with a term equal to the<br />
expected life of the stock option, ranging<br />
between 0.85 % and 1.95 %.<br />
146 <strong>TiGenix</strong> I annual report <strong>2012</strong>
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