Chrysler 2008 Annual Report Download - page 297

Stock Option plans linked to Fiat S.p.A. ordinary shares
The Board of Directors of Fiat S.p.A. approved certain stock option until 2002 which provided managers of the Group with the title
of
Direttore , 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.
These options may generally be exercised once a three year period has passed from the grant date and for the following six years,
consistent with tax law on the subject; nonetheless, the full amount granted as options is not exercisable until the end of the fourth
year.
The contractual terms of these plans are as follows:
Strike price Number of Vesting
Plan Recipient Grant date Expiry date (€) options granted Vesting date portion
Stock Options 2000 (expired) Managers 18 February 2000 18 February 2008 28.122 5,158,000 18 February 2001 25%
18 February 2002 25%
18 February 2003 25%
18 February 2004 25%
Stock Options July 2000 (expired) Former Chairman 25 July 2000 25 July 2008 25.459 250,000 25 July 2001 50%
of Fiat S.p.A. 14 May 2002 50%
Stock Options February 2001 Managers 27 February 2001 27 February 2009 24.853 785,000 27 February 2002 25%
27 February 2003 25%
27 February 2004 25%
27 February 2005 25%
Stock Options March 2001 (expired) Former Chairman 29 March 2001 30 October 2008 23.708 1,000,000 1 July 2002 100%
of Fiat S.p.A.
Stock Options October 2001 Managers 31 October 2001 31 October 2009 16.526 5,417,500 31 October 2002 25%
31 October 2003 25%
31 October 2004 25%
31 October 2005 25%
Stock Options May 2002 Former Chairman 14 May 2002 1 January 2010 12.699 1,000,000 1 January 2005 100%
of Fiat S.p.A.
Stock Options September 2002 Managers 12 September 2002 12 September 2010 10.397 6,100,000 12 September 2003 25%
12 September 2004 25%
12 September 2005 25%
12 September 2006 25%
On 26 July 2004, the Board of Directors granted to Sergio Marchionne as a part of his compensation as Chief Executive Officer
options for the purchase of 10,670,000 Fiat S.p.A. ordinary shares at the price of €6.583 per share, exercisable from 1 June 2008 to
1 January 2011. In each of the first three years following the grant date, the CEO accrued the right to purchase, from 1 June 2008,
an annual maximum of 2,370,000 shares. From 1 June 2008, he has the right to exercise, effective at that date, the residual portion
of the options on 3,560,000 shares because he reached the predetermined performance objectives during the reference period. In
Fiat S.p.A. Statutory Financial Statements at 31 December 2008296