Report & accounts 2002 in full - Unilever
Report & accounts 2002 in full - Unilever
Report & accounts 2002 in full - Unilever
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29 Equity-based compensation plans cont<strong>in</strong>ued<br />
<strong>Unilever</strong> Annual <strong>Report</strong> & Accounts and Form 20-F <strong>2002</strong><br />
Notes to the consolidated <strong>accounts</strong> 109<br />
<strong>Unilever</strong> Group<br />
<strong>2002</strong> 2001 2000<br />
Weighted Weighted Weighted<br />
Number of average Number of average Number of average<br />
shares price shares price shares price<br />
NV New York shares of €0.51<br />
Outstand<strong>in</strong>g at 1 January 29 255 $0.00 5 034 $0.00 – –<br />
Awarded 87 743 $0.00 24 221 $0.00 5 034 $0.00<br />
Exercised – – – – – –<br />
Forfeited/Expired (a) (513) $0.00 – – – –<br />
Outstand<strong>in</strong>g at 31 December 116 485 $0.00 29 255 $0.00 5 034 $0.00<br />
Exercisable at 31 December – – – – – –<br />
PLC shares of 1.4p <strong>in</strong> the form of ADRs (d)<br />
Outstand<strong>in</strong>g at 1 January 214 752 $0.00 37 264 $0.00 – –<br />
Awarded 599 064 $0.00 177 488 $0.00 37 264 $0.00<br />
Exercised – – – – – –<br />
Forfeited/Expired (a) (3 568) $0.00 – – – –<br />
Outstand<strong>in</strong>g at 31 December 810 248 $0.00 214 752 $0.00 37 264 $0.00<br />
Exercisable at 31 December – – – – – –<br />
(a) The number of expired share awards is immaterial. (d) 1 ADR is equivalent to 4 PLC shares.<br />
<strong>2002</strong> 2001 2000<br />
NV share award value <strong>in</strong>formation (b)<br />
Fair value per share award €69.14 €61.73 €52.68<br />
$58.68 $56.54 $49.13<br />
PLC share award value <strong>in</strong>formation (b)<br />
Fair value per share award £6.17 £5.22 £4.22<br />
$8.58 $7.70 $6.63<br />
Actual compensation costs recognised (€ million) 12 2 –<br />
(b) Weighted average of share awards granted dur<strong>in</strong>g each period.<br />
(iv) The TSR Long-Term Incentive Plan<br />
This plan was <strong>in</strong>troduced <strong>in</strong> 2001 and grants were made to Board members and some senior executives. The level of award which will<br />
vest will vary <strong>in</strong> accordance with the Total Shareholder Return <strong>in</strong> comparison with a peer group (see description on page 40). If the rank<strong>in</strong>g<br />
is below the median, the award will lapse; the higher the rank<strong>in</strong>g above the median, the higher the award.<br />
A summary of the status of the TSR Long-Term Incentive Plan as at 31 December <strong>2002</strong> and 2001 and changes dur<strong>in</strong>g the year ended on<br />
these dates is presented below:<br />
<strong>2002</strong> 2001<br />
Weighted Weighted<br />
Number of average Number of average<br />
shares price shares price<br />
NV shares of €0.51<br />
Outstand<strong>in</strong>g at 1 January 71 564 €0.00 – –<br />
Awarded 118 445 €0.00 71 564 €0.00<br />
Exercised – – – –<br />
Forfeited/Expired (a) (1 495) €0.00 – –<br />
Outstand<strong>in</strong>g at 31 December 188 514 €0.00 71 564 €0.00<br />
Exercisable at 31 December – – – –<br />
PLC shares of 1.4p<br />
Outstand<strong>in</strong>g at 1 January 533 481 £0.00 – –<br />
Awarded 837 973 £0.00 533 481 £0.00<br />
Exercised – – – –<br />
Forfeited/Expired (a) (10 580) £0.00 – –<br />
Outstand<strong>in</strong>g at 31 December 1 360 874 £0.00 533 481 £0.00<br />
Exercisable at 31 December – – – –<br />
(a) The number of expired share awards is immaterial.<br />
F<strong>in</strong>ancial Statements
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