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Stock option plan granted in 2009
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,
The terms of the stock option plan granted during fi scal year 2009 are as follows:
ANNUAL FINANCIAL STATEMENTS
Notes to the fi nancial statements
2008 and to the December 9, 2008 decision of the Supervisory
Board, decided at its December 14, 2009 meeting to allocate stock
options to members of the Executive Board as well as qualifying
staff members, as defi ned by the resolution.
Date of the Extraordinary Shareholders’ Meeting May 14, 2008
Date of the Executive Board’s decision December 14, 2009
Total number of options allocated: 158,500
• Of which corporate offi cers: 131,000
• Of which top 10 employee recipients: 25,500
Total number of shares that may be purchased: 158,000
• Of which corporate offi cers: 131,000
• Of which top 10 employee recipients: 25,500
Option exercise from The options may be exercised once vested
Expiry date December 14, 2019
Purchase price per share €31.96
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 14, 2011;
• the second third of options will vest after a period of three years,
i.e. December 14, 2012;
• the fi nal third of options will vest after a period of four years,
i.e. December 14, 2013.
The exercise of stock options granted under the 2009 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 158,500
It should be noted that where stock option benefi ciaries do not have
four years’ service on the expiry date of any of the aforementioned
vesting periods, that option tranche will not vest until such time as
said benefi ciary has four years’ service with the Company.
Accordingly, on the basis of the above adjustments, the number of bonus shares and stock options allocated to each benefi ciary is as follows:
2007 plan
Stock options
2008 plan
Stock options
2009 plan
Stock options
Bruno Keller 59,143 64,477 80,000
Xavier de Lacoste Lareymondie 26,509 31,876 38,500
Brigitte Perinetti 2,932 3,616 4,000
Ghislaine Seguin - 4,970 8,500
Corporate offi cers 88,584 104,939 131,000
Staff 23,578 28,310 27,500
TOTAL 112,162 133,249 158,500
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Contents
ANF • 2009 ANNUAL REPORT
175
OTHER GENERAL GENERAL INFORMATION PRO FORMA FINANCIAL INFORMATION ANNUAL ANNUAL FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL FINANCIAL STATEMENTS INFORMATION ABOUT ANF DESCRIPTION OF OF THE BUSINESS