SECTION 1 -
SECTION 1 -
SECTION 1 -
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Note 15. Share‐based payments<br />
Note 15.1 Earnings per share<br />
New Services: Historical Combined Financial Statements and Notes<br />
December, 31, 2009<br />
The average number of shares used to calculate earnings per share for the three years presented corresponds to the number of<br />
shares resulting from applying the one‐for‐one exchange ratio to the number of Accor SA shares outstanding at December 31,<br />
2009 (225,458,199 shares).<br />
Diluted earnings per share is the same as earnings per share as no dilutive instruments have been issued by New Services.<br />
The stock option plans and performance share plans described below have Accor shares as their underlying. These plans will<br />
continue to relate to Accor S.A. and New Services shares will not be substituted for Accor S.A. shares as the underlying.<br />
Note 15.2. Accor Stock option plans granted to New Services employees<br />
Description of the main Accor stock option plans granted to New Services employees<br />
The following table provides details of stock options outstanding at December 31, 2009 and options that expired or were<br />
cancelled during the period.<br />
Grant date Life of plan<br />
Number of options<br />
granted to New<br />
Services<br />
employees<br />
Plan 5 January 4, 2001 8 years 160 000<br />
Plan 6 January 8, 2002 8 years 215 700<br />
Plan 7 (*) July 12, 2002 7 years 31 641<br />
Plan 8 January 3, 2003 8 years 4 900<br />
Plan 9 January 7, 2004 8 years 121 100<br />
Plan 10 (*) July 9, 2004 8 years 31 339<br />
Plan 11 January 12, 2005 7 years 87 200<br />
Plan 12 January 9, 2006 7 years 133 700<br />
Plan 13 March 24, 2006 7 years 51 600<br />
Plan 14 March 22, 2007 7 years 161 645<br />
Plan 15 May 14, 2007 7 years 12 500<br />
Plan 16 (*) September 13, 2007 8 years 343<br />
Plan 17 March 28, 2008 7 years 152 850<br />
Plan 18 September 30, 2008 7 years 6 000<br />
Plan 19 March 31, 2009 8 years 121 440<br />
(*) Options under plans 7, 10 and 16 are stock savings warrants.<br />
Exercise date<br />
Number of<br />
grantees<br />
from 01/04/04 until 01/04/09 4<br />
from 01/08/05 until 01/08/10 77<br />
from 07/12/05 until 07/12/09 993<br />
from 01/04/06 until 01/03/11 7<br />
from 01/08/07 until 01/07/12 50<br />
from 07/09/07 until 07/09/12 623<br />
from 01/13/09 until 01/12/12 55<br />
from 01/10/10 until 01/09/13 29<br />
from 03/25/10 until 03/24/13 53<br />
from 03/23/11 until 03/22/14 122<br />
from 05/15/11 until 05/14/14 2<br />
from 09/13/10 until 09/13/15 11<br />
from 03/29/12 until 03/28/15 132<br />
from 10/01/12 until 09/30/15 2<br />
from 04/01/13 until 03/31/17 159<br />
Exercise<br />
price<br />
Cash-settled or equity<br />
settled<br />
40,58 € Equity settled<br />
37,77 € Equity settled<br />
39,10 € Equity settled<br />
31,83 € Equity settled<br />
35,68 € Equity settled<br />
33,94 € Equity settled<br />
32,42 € Equity settled<br />
46,15 € Equity settled<br />
49,10 € Equity settled<br />
68,65 € Equity settled<br />
71,72 € Equity settled<br />
60,44 € Equity settled<br />
46,46 € Equity settled<br />
42,70 € Equity settled<br />
27,45 € Equity settled<br />
Options granted under Plan 15 are performance options. The options vest in four equal tranches in each of the years 2007 to<br />
2010 based on the attainment of performance targets expressed in terms of growth in the Accor Group's return on capital<br />
employed (ROCE) and profit after tax and before non‐recurring items. If the performance targets are met at the end of each year,<br />
grantees receive one quarter of the options included in the initial grant. If only one of the two targets is met, they receive one<br />
eighth of the options.<br />
For all of the options to vest, ROCE and profit after tax and before non‐recurring items will have to increase by around 10% or<br />
more per year. If ROCE and profit after tax and before non‐recurring items increase by less than 10% (but more than 0%), the<br />
number of vested options is reduced based on the ratio between the actual increase and 10%.<br />
The performance criteria were met in 2007. The performance criteria were only partially met in 2008 and 2009 leading to the<br />
cancellation of 3,515 options.<br />
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