Values

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Report Statements Supervisory
Board
Income Statement
Statement of Comprehensive Income
Balance Sheet
Cash Flow Statement
Statement of Changes in Equity
Notes
Changes in the fair value of hedging relationships in place since
the previous year amounted to €1 million (previous year: €28
million) and new hedging relationships to €-5 million (previous
year: €21 million) in fi scal year 2009. Th is was off set by the reversal
to other comprehensive income of €-8 million (previous year:
Stock Option Plans at Subsidiaries
Various stock option plans are in operation at subsidiaries. At
RTL Group in particular, stock option plans for senior management
were introduced in 2000. Th e option price is derived from
RTL Group Stock Option Plan
RTL Group established a stock option plan for selected directors
on July 25, 2000. In order to participate in the stock option plan
(“SOP”), participants must be employed by RTL Group or one
of its subsidiaries at the date the options are granted.
Th e number of options granted to participants as part of
the SOP is determined by the compensation committee. Th e
compensation committee is made up of the company’s executive
board or a committee constituted of members thereof. Participants
may choose not to accept the options granted to them
and are not obliged to make any payments for options granted
as part of the SOP.
Th e number of ordinary shares which may be placed as part
of the SOP in any one year may not exceed 0.5 percent of the
company’s issued ordinary share capital.
Th e table below shows the change in stock options in the year
under review:
Bertelsmann Annual Report 2009
€28 million), which was recognized in other operating income
(other operating expenses in the prior year).
Among the total expenses and income recognized directly in
equity, €-5 million relates to non-current assets classifi ed as held
for sale.
the market price at the time the options are granted. Within
RTL Group, there are also stock option plans at Métropole
Télévision (M6).
As a general rule, the exercise price of options issued under
the SOP is the average price of RTL shares over a period of 20
trading days before the date on which the options are granted.
Th e exercise price may be a higher or lower amount to be determined
by the compensation committee.
One third of options granted may be exercised on each of
the second, third and fourth anniversaries of the initial grant
date, or as otherwise determined by the compensation committee.
Th e options granted must normally be exercised within
ten years of the grant date, or within a shorter period of time to
be determined by the compensation committee. Options may
be exercised earlier by the heirs of participants in the event of
their death.
Options (RTL Group)
Average
2009 Average
2008
exercise price
exercise price
in thousands
in € per share
in € per share
Options outstanding at the beginning of the year 87 130 87 139
Options exercised/expired during the year 85 (5) 85 (9)
Options outstanding at the end of the year 87 125 87 130
117