Chrysler 2007 Annual Report Download - page 287

■an increase of 21,879 thousand euros in the carrying amount of the investments in the subsidiaries by which the managers of
other Group companies beneficiaries of the stock option plans based on Fiat S.p.A. shares are directly or indirectly employed
(see Note 11).
Treasury stock
The carrying amount of this reserve amounted to 419,310 thousand euros at December 31, 2007 and relates to 21,851,458 ordinary
shares.
The following table sets out details of treasury stock and the changes that took place during the year:
Total nominal Total carrying
Number of ordinary value Unit price amount
shares (thousands of euros) % of capital (euros) (thousands of euros)
At December 31, 2006 3,773,458 18,867 0.30% 6.397 24,139
– purchases 20,482,000 102,410 1.61% 20.800 426,023
– sales (2,404,000) (12,020) –0.19% 12.834 (30,852)
At December 31, 2007 21,851,458 109,257 1.71% 19.189 419,310
The purchase of 20,482,000 shares was carried out as part of the treasury stock buy-back Programme discussed previously, and
announced by the Board of Directors following authorisation given by the stockholders meeting on April 5, 2007.
The sale of 2,404,000 shares arose on the exercising of the rights deriving from the stock option plans of September 2002
(1,198,500 shares sold), May 2002 (500,000 shares sold) and October 2001 (705,500 shares sold), and led to total proceeds of
30,523 thousand euros.
Share-based payments
At December 31, 2007, Fiat S.p.A. has various share-based payment plans for the executives of Group companies and members of
the Board of Directors of Fiat S.p.A.
Stock Option plans linked to Fiat S.p.A. ordinary shares
The Board of Directors of Fiat S.p.A. approved certain stock option plans between March 1999 and September 2002 which provide
executives of the Group with the title of "direttore" and high management potential included in “management development
programmes” and executive Directors of Fiat S.p.A. with the right to purchase a determined number of Fiat S.p.A. ordinary shares
at a fixed price (strike price). These rights may be exercised over a fixed period of time from the vesting date to the expiry date of
the plan. These stock option plans do not depend on any specific market conditions.
In accordance with applicable tax regulations, options are generally exercisable after three years from the grant date and for the
following six years. Nevertheless the full amount granted as options is not exercisable until the end of the fourth year.
Fiat S.p.A. Financial Statements at December 31, 2007 - Notes to the Financial Statements286