Chrysler 2008 Annual Report Download - page 296

5) and €7,676 thousand arising from stock option plans based on Fiat S.p.A. shares and relating to the Chief Executive Officer (see
Note 6);
a decrease of €5,959 thousand in the carrying amount of investments in subsidiaries which directly or indirectly employ
managers of other Group companies who are beneficiaries of stock option plans based on Fiat S.p.A. shares (see Note 12). This
decrease was due to changes in estimates related to the November 2006 stock option plan, net of increases for the new plan
established in July 2008.
Reserve for Spin-off difference
At 31 December 2008, the reserve totalled €39,194 thousand and includes the positive difference arising from the partial spin-off of
Fiat Partecipazioni S.p.A. on 29 December 2008, as detailed in Note 12 above.
Other reserves
At December 2008, other reserves totalled €50,635 thousand, unchanged from 31 December 2007. More specifically, this amount
included:
Reserves under Law 413/1991: a total of €22,591 thousand corresponding to the compulsory revaluation of property (net of
substitute tax) pursuant to Law 413 of 30 December 1991, allocated to a specific reserve as required by that Law.
Extraordinary reserve: a total of €28,044 thousand corresponding to the value approved by Shareholders on 11 May 2004, and
reconstituted last year.
Treasury shares
The carrying amount of this reserve amounted to €656,553 thousand at 31 December 2008 and relates to 38,568,458 ordinary
shares.
The following table sets out details of treasury shares and the changes that took place during the year:
Total Total
Number of nominal value Avg. carrying amount
ordinary shares (€ thousands) % capital unit price (€) (€ thousands)
At 31 December 2007 21,851,458 109,257 1.71% 19.189 419,310
– purchases 16,788,000 83,940 1.32% 14.208 238,531
– sales (71,000) (355) -0.01% 18.127 (1,288)
At 31 December 2008 38,568,458 192,842 3.02% 17.023 656,553
A total of 16,788,000 shares were repurchased under the share buy-back programme described previously which was first approved
by Shareholders on 5 April 2007 and renewed on 31 March 2008.
The sale of 71,000 shares arose on the exercising of the rights deriving from the stock option plans of September 2002 and led to
total proceeds of €738 thousand.
Share-based compensation
At 31 December 2008 and 31 December 2007, Fiat S.p.A. has various share-based payment plans for executives of Group
companies, the Chief Executive Officer of Fiat S.p.A. and the former Chairman of Fiat S.p.A., Mr. Paolo Fresco.
Fiat S.p.A. Statutory Financial Statements at 31 December 2008 295