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Stock option plan granted in 2007
During the fi scal year ended December 31, 2007, the Executive
Board, acting pursuant to the authorisation granted in resolution 22
of the Ordinary and Extraordinary Shareholders’ Meeting of May 4,
2005 and to the December 4, 2007 decision of the Supervisory
Board, decided at its December 17, 2007 meeting to allocate stock
ANNUAL FINANCIAL STATEMENTS
Notes to the fi nancial statements
options to members of the Executive Board as well as qualifying
staff members, as defi ned by the resolution.
In order to factor in the distribution of reserves that took place
pursuant to resolution 2 of the Ordinary and Extraordinary
Shareholders’ Meeting of May 28, 2009, at its July 27, 2009
meeting the Executive Board adjusted the exercise terms of the
stock options.
The terms of the stock option plan granted during fi scal year 2007, amended by the adjustments, are as follows:
Date of the Extraordinary Shareholders’ Meeting May 4, 2005
Date of the Executive Board’s decision December 17, 2007
Total number of options allocated: 112,162
• Of which corporate offi cers: 88,584
• Of which top 10 employee recipients: 23,578
Total number of shares that may be purchased: 112,162
• Of which corporate offi cers: 88,584
• Of which top 10 employee recipients: 23,578
Option exercise from The options may be exercised once vested
Expiry date December 17, 2017
Purchase price per share €42.14
Terms of exercise Vesting of options by tranche:
• the fi rst third of options will vest after a period of two years,
i.e. December 17, 2009;
• the second third of options will vest after a period of three years,
i.e. December 17, 2010;
• the fi nal third of options will vest after a period of four years,
i.e. December 17, 2011.
Total number of shares purchased as of December 31, 2009 -
Total number of options cancelled as of December 31, 2009 -
Total number of options remaining to be exercised 112,162
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Contents
ANF • 2009 ANNUAL REPORT
173
OTHER GENERAL GENERAL INFORMATION PRO FORMA FINANCIAL INFORMATION ANNUAL ANNUAL FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL FINANCIAL STATEMENTS INFORMATION ABOUT ANF DESCRIPTION OF OF THE BUSINESS