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VimpelCom / Annual Report 2007
17. STOCK BASED COMPENSATION PLAN
As discussed in Note 11, VimpelCom has adopted a stock based
compensation plan, which has been amended since inception.
The Plan is administered by a Committee which, as of December 31, 2007,
consisted of the Compensation Committee of VimpelCom’s Board. The
Plan Committee has the power to determine the terms and conditions
of grants under the Plan, including the number of options to be granted,
the exercise price and the vesting schedule.
The following table summarizes the activity for the plan:
Number of options
2007 2006 2005
Options outstanding,
beginning of year $372,261 $208,267 $86,750
Options granted 279,500 273,500 181,000
Options exercised (177,436) (79,006) (43,483)
Options forfeited (14,500) (30,500) (16,000)
Options outstanding, end of year $459,825 $372,261 $208,267
Options exercisable, end of year $92,825 $83,428 $35,767
No options expired in the years ended December 31, 2007, 2006 or 2005. The following table summarizes the weighted-average exercise prices
of options for each of the following groups of options as of December 31, 2007:
Options First options Second options First options Second options
granted in 2005 granted in 2006 granted in 2006 granted in 2007 granted in 2007 Total
The number of options outstanding ,
beginning of year 112,392 228,000 31,869 - - 372,261
Weighted-average exercise price
of options outstanding 136.9 177.0 120.8 - - 160.1
The number of options granted - - - 270,000 9,500 279,500
Weighted-average exercise price
of options granted - - - 401.9 496.2 405.1
The number of options exercised (64,492) (81,075) (31,869) - - (177,436)
Weighted-average exercise price
of options exercised 136.9 177.0 120.8 - - 152.3
The number of options forfeited (1,500) (4,500) - (8,500) - (14,500)
Weighted-average exercise price
of options forfeited 136.9 177.0 - 401.9 - 304.7
Options outstanding, end of year 46,400 142,425 - 261,500 9,500 459,825
Weighted-average exercise price
of options outstanding 136.9 177.0 - 401.9 496.2 307.4
The weighted-average remaining
contractual life (years) 1.5 2.3 - 3.4 3.7 2.9
The aggregate intrinsic value
of options outstanding 32,253 93,283 - 112,476 3,190 241,202
Out of the options outstanding
at the end of the year
The number of options exercisable 46,400 46,425 - - - 92,825
Weighted-average exercise price
of options exercisable 136.9 177.0 - - - 157.0
The weighted-average remaining
contractual life (years) 1.5 2.3 - - - 1.9
The aggregate intrinsic value
of options exercisable 32,253 30,406 - - - 62,659