Chrysler 2007 Annual Report Download - page 290

A summary of outstanding stock option plans at December 31, 2007 is as follows:
Managers compensation Compensation as member of the Board
No. of options No. of options No. of options No. of options
outstanding at outstanding at Average remaining outstanding at outstanding at Average remaining
December 31, December 31, contractual life December 31, December 31, contractual life
Exercise price (euros) 2007 2006 (*) (in years) 2007 2006 (in years)
6.583 ––– 10,670,000 10,670,000 3.0
10.397 1,008,500 2,207,000 2.7 – ––
12.699 ––– 500,000 1,000,000 2.0
13.370 9,792,500 10,000,000 6.8 10,000,000 10,000,000 6.8
16.526 1,119,000 1,943,500 1.8 – ––
23.708 ––– 1,000,000 1,000,000 0.8
24.853 50,000 80,000 1.2 – ––
25.459 ––– 250,000 250,000 0.6
26.120 –241,900 ––––
28.122 1,051,500 1,051,500 0.1 – ––
Total 13,021,500 15,523,900 –22,420,000 22,920,000 –
(*) In connection with the September 2002 plan, which has a strike price of 10.397 euros per share, the number of options indicated in the above table (and therefore also the total number of options held
by managers) differs from that in the published statutory financial statements at December 31, 2006 by 90,000 options as the result of an erroneous calculation of the options outstanding. Since these
rights relate to plans outside the scope of IFRS 2 (as they precede November 7, 2002), the fact that this information was erroneous had no effect on the Company’s result for the year ended December
31, 2006 or its equity at that date.
Changes during the year are as follows:
Managers compensation Compensation as member of the Board
Average Average
exercise price exercise price
Number of options (euros) Number of options (euro)
Outstanding at the beginning of the year (*) (**) 15,523,900 14.62 22,920,000 10.76
Granted ––––
Forfeited ––––
Exercised (1,904,000) 12.70 (500,000) 12.70
Expired (598,400) 18.16 - -
Outstanding at December 31, 2007 13,021,500 14.65 22,420,000 10.72
Exercisable at December 31, 2007 3,229,000 18.52 1,750,000 20.81
Exercisable at December 31, 2006 (**) 5,523,900 16.93 2,250,000 19.01
(*) At December 31, 2006 the balance included 20,000,000 stock options (of which 10,000,000 granted to managers and 10,000,000 granted to the Chief Executive Officer), which had been granted on
November 3, 2006, subject to approval by the Stockholders Meeting, which was given on April 5, 2007.
(**) In connection with the number of options granted to managers, both outstanding and exercisable, the amount differs from that in the published statutory financial statements at December 31, 2006 for
the reasons explained in the footnote to the preceding table, to which reference should be made.
The average price of Fiat S.p.A. ordinary shares in the year was 19.742 euros.
As discussed under Significant accounting policies, in the case of share-based payments the Company applies IFRS 2 to all stock
options granted after November 7, 2002, which had not yet vested at January 1, 2005, namely the July 2004 and November 2006
stock option plans.
Fiat S.p.A. Financial Statements at December 31, 2007 - Notes to the Financial Statements 289