Chrysler 2008 Annual Report Download - page 173

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The following table summarises outstanding stock options under the CNH EIP:
At 31 December 2008 At 31 December 2007
Weighted Average
Number of options remaining Contractual Average Exercise Number of options Average Exercise
Exercise Price (in USD) Outstanding life (in years) Price (in USD) Outstanding Price (in USD)
10.00 - 19.99 111,688 3.6 16.18 148,063 16.18
20.00 - 29.99 225,908 3.2 21.20 293,139 21.20
30.00 - 39.99 1,518,935 3.9 37.23 1,715,708 37.16
40.00 - 69.99 861,578 3.7 55.47 314,328 68.85
Total 2,718,109 2,471,238
Changes during the period in all CNH stock option plans are as follows:
2008 2007
Average exercise Average exercise
Number of shares price (in USD) Number of shares price (in USD)
Outstanding at the beginning of the year 2,471,238 38.08 1,760,466 36.42
Granted 1,299,474 48.75 1,634,932 37.96
Forfeited (913,064) 46.70 (377,997) 49.30
Exercised (139,539) 27.71 (546,163) 24.59
Expired ––––
Outstanding at the end of the year 2,718,109 40.82 2,471,238 38.08
Exercisable at the end of the year 1,142,411 40.74 725,975 43.74
Performance Share Grants
Under the CNH EIP, performance-based shares may also be granted to selected key employees and executive officers. CNH
establishes the period and conditions of performance for each award and holds the shares during the performance period.
Performance-based shares vest upon the attainment of specified performance objectives.
The following table reflects performance-based share activity under the CNH EIP:
2008 2007
Weighted average Weighted average
grant date grant date
Number of shares fair value (in USD) Number of shares fair value (in USD)
Non-vested at the beginning of the year 2,011,790 30.82 2,362,052 26.45
Granted 100,000 26.76 240,500 61.14
Forfeited (155,000) 28.09 (545,463) 26.25
Vested (86,290) 21.22 (45,299) 18.77
Non-vested at the end of the year 1,870,500 31.28 2,011,790 30.82
The LTI awards issued prior to 2006 were subject to the achievement of certain performance criteria over a 3-year performance
cycle. At the end of the 3-year performance cycle, any earned awards will be satisfied equally with cash and CNH common shares
as determined at the beginning of the performance cycle, for minimum, target, and maximum award levels.
Fiat Group Consolidated Financial Statements at 31 December 2008172