Chrysler 2002 Annual Report Download - page 38

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of employment, a total of 3,558,700 shares could be issued
through a specially reserved capital increase that has already
been approved by the Board of Directors. Another 12,223,000
shares represent treasury stock to be assigned to the holders
of options pursuant to the conditions envisaged in the specific
Regulation.
On several occasions, the Board of Directors further granted the
Chairman and the Chief Executive Officer options to purchase
ordinary Fiat shares. Detailed information on these transactions
is provided in the Notes to the Financial Statements.
The following table summarizes the information on options
granted to employees outstanding at December 31, 2002:
36 Report on Operations Corporate Governance and Stock Option Plans
2001 2002
Number Average Number Average
of shares exercise price (*) Market price of shares exercise price (*) Market price
Options outstanding on 1/1 6,406,000 29.76 26.34 12,608,500 24.41 17.92
New options granted during the year 6,202,500 18.87 19.15 6,420,000 11.32 11.32
Expired options – – – 3,326,800 – –
Options outstanding on 12/31 12,608,500 24.41 17.92 15,791,700 18.80 7.70
of which exercisable on 12/31 1,913,500 29.92 17.92 3,784,575 25.86 7.70
(*) Following the capital increase in January 2002, the exercise prices were adjusted by applying the factor calculated by Borsa Italiana, in the amount of 0.98543607.