182 / 266
182 2014 Registration Document
Consolidated Financial Statements Year ended December 31, 2014
5
Notes to the Consolidated statements
No new plans were set up in 2014 or 2013.
The following table provides
details of the stock option plans
that were in progress at December 31, 2014 or expired during the year.
Grant date
(1)
Number
of options
granted
(2)
Life of the
options
Number of
grantees
Exercise
period
(3)
Number
of options
outstanding
(4)
Exercise price
in €
(2)
2007 Presence Plan May 15, 2007 4,354,667
7 years
502
May 15, 2009
to May 14,
2014
0
49.45
2008 Presence Plan I
June 6, 2008 4,545,183
7 years
505
June 6, 2010
to June 5,
2015 3,568,284
39.68
2008 Presence Plan II
July 7, 2008
17,109
7 years
1
July 7, 2010 to
July 6, 2015
17,109
39.68
2009 Performance Plan June 17, 2009 1,252,994
7 years
57
June 17, 2011
to June 16,
2016
431,088
29.55
2009 Presence Plan June 17, 2009 6,974,861
7 years
2,571
June 17, 2011
to June 16,
2016 5,502,482
29.55
2010 Performance Plan July 16, 2010 1,439,017
7 years
56
July 17, 2012
to May 3, 2017
509,055
29.91
2010 Presence Plan II
July 16, 2010 1,941,610
7 years
507
July 17, 2012
to July 16,
2017 1,471,852
29.91
TOTAL
11,499,870
(1) Date of the meeting of the Management Board (before July 28, 2008) or Board of Directors (after that date) when the stock option grants were decided.
(2) Adjusted number of options and adjusted exercise price.
(3) The options will vest only if the grantee is still employed by the Group at the start of the exercise period. Since 2006, the options vest as follows:
W
50% after two years;
W
25% after three years;
W
25% after four years.
Concerning the exercise date, specific rules apply in the event of the grantee’s death.
(4) The number of options outstanding includes both options exercisable at December 31, 2014 and options that were not yet exercisable at that date.
All of the options are exercisable for existing Carrefour shares.
There are two types of plans:
■
Presence Plans, for which the only condition is that grantees must
remain employed by the Group between the grant date and the starting
date of the exercise period for each tranche of options (50% of options
vest after two years, 25% after three years and 25% after four years);
■
Performance Plans, for which the above presence condition applies
as well as two conditions based on the Group’s financial performance,
with 50% of the options vesting when each of these conditions are met:
■
Performance conditions for the 2009 Performance Plan concern
(i) sales growth for the period 2008 to 2010 and (ii) the level
of 2010 free cash flow,
■
Performance conditions for the 2010 Performance Plan concern
growth in (i) sales and (ii) recurring operating income over the
period 2009 to 2011.
28.1
STOCK OPTION PLANS