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174
ANNUAL FINANCIAL STATEMENTS
Notes to the fi nancial statements
Stock option plan granted in 2008
During the fi scal year ended December 31, 2008, the Executive
Board, acting pursuant to the authorisation granted in resolution 20
of the Ordinary and Extraordinary Shareholders’ Meeting of May 14,
ANF • 2009 ANNUAL REPORT
2008 and to the December 9, 2008 decision of the Supervisory
Board, decided at its December 19, 2008 meeting to allocate stock
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 2008, amended by the adjustments, are as follows:
Date of the Extraordinary Shareholders’ Meeting May 14, 2008
Date of the Executive Board’s decision December 19, 2008
Total number of options allocated: 133,249
• Of which corporate offi cers: 104,939
• Of which top 10 employee recipients: 28,310
Total number of shares that may be purchased: 133,249
• Of which corporate offi cers: 104,939
• Of which top 10 employee recipients: 28,310
Option exercise from The options may be exercised once vested
Expiry date December 19, 2018
Purchase price per share €27.53
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 19, 2010;
• the second third of options will vest after a period of three years,
i.e. December 19, 2011;
• the fi nal third of options will vest after a period of four years,
i.e. December 19, 2012.
The exercise of stock options granted under the 2008 Plan is subject
to certain performance conditions.
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 133,249
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