Airbus 2015 Annual Report Download - page 239

AIRBUS GROUP FINANCIAL STATEMENTS 2015 l 57 l
Notes to the IFRSConsolidatedFinancialStatements
2.
2.6 Employees Costs and Benefits
Post-Employment Benefit Cost
The pension defined benefit obligation of the Executive
Committee, including the CEO, at 31December 2015 amounted
to € 61.6million (2014: € 81.6million). The disclosed defined
benefit obligation reflects the total outstanding balance for all
Executive Committee Members subject to a defined benefit plan
and in charge at the end of the respective balance sheet date.
Share-Based Remuneration (“LTIP Award”)
The share-based payment expenses result from not yet forfeited
units granted to the Executive Committee Members under the
AirbusGroup LTIP which are re-measured to fair value as far
as they are cash settled.
In 2015, the members of the Executive Committee were granted
175,802 Performance Units for LTIP 2015 and 8,850 additional
units for LTIP 2014 (2014: 190,460 units), the respective share
price of these Performance Units at grant date was € 10.3million
(2014: € 9.1million). Fair value of outstanding LTIP balances
at the end of 2015 for all Executive Committee Members
was € 21.6million (2014: € 18.8million). The total number of
outstanding Performance and Restricted Units amounted to
775,744 at 31December 2015 (2014: 823,493), granted to the
current members of the Executive Committee.
Also basing on the intention of the Board of Directors to increase
the long-term commitment of Executive Committee Members
to the success of the Company the Board has authorised the
Executive Committee Members to opt for partial conversion
of the otherwise cash settled LTIP plans into share settled
plans at each grant date of any new LTIP, requiring a minimum
conversion rate into equity settlement of 25% of total granted
Performance Units. At the conversion date, each Executive
Committee Member individually determined the split of equity
and cash settlement for the formerly granted LTIP plan. By
the end of February2016, Executive Committee Members will
accordingly decide on the split for the 2015 LTIP plan. After
overall performance assessment of each of the plans, the
vesting dates as determined at the initial grant date apply to
all cash settled Performance Units, however, units converted
into equity settlement only vest at the last of the vesting dates
of the respective plan.
NUMBER OF PERFORMANCE UNITS GRANTED TO EXECUTIVE COMMITTEE MEMBERS
LTIP 2010(1) LTIP 2011(2) LTIP 2012(3) LTIP 2013 LTIP 2014
Total number of units granted 413,984 337,28 0 275,900 203,000 199,310
Number of cash-settled units 263,228 227,949 199,925 138,300 147, 269
Number of equity-settled units 150,756 109,331 75,975 64,700 52,041
Date of conversion 31December 2012 31December 2012 28February 2013 28February 2014 28February 2015
Share price at date of conversion € 29.50 € 29.50 € 39.70 € 53.39 € 55.33
(1) Based on performance achievement of 136% for Performance Units under 2010 LTIP.
(2) Based on performance achievement of 128% for Performance Units under 2011 LTIP.
(3) Based on performance achievement of 100% for Performance Units under 2012 LTIP.
SOPs
To the other current members of the Executive Committee and
to the Group’s senior management, the number of outstanding
stock options amounted to 264,500 at 31December 2015 (2014:
2,240,891). During the year2015, the Executive Committee
Members have exercised 241,085 options (2014: 188,128)
granted under the various SOPs. 137,500 options (2014: 118,000)
were exercised by former Executive Committee Members. As
all AirbusGroup SOPs vested before 2012 no related personnel
expense was recognised in 2015 or in 2014.
Other Benefits
Other benefits include expenses for Executive Committee
Members’ company cars and accident insurance. There were no
outstanding liabilities at 31December 2015 or 2014 respectively.
Financial Statements 2015
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Annual Report 2015 Financial Statements 2015
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