Chrysler 2010 Annual Report Download - page 218

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Non-controlling interest
The non-controlling interest of €917 million at 31 December 2010 (€814 million at 31 December 2009) refers mainly to the following companies consolidated
on a line-by-line basis:
% held by non-controlling interest
At 31 December 2010 At 31 December 2009
Italian companies:
Ferrari S.p.A. 10.0 15.0
Teksid S.p.A. 15.2 15.2
Foreign companies:
CNH Global N.V. 11.1 10.7
The following schedule shows the effects on the Group’s equity of changes in the Fiat Group’s interest in its subsidiaries:
(€ million) 2010 2009
Profit/(loss) for the period 520 (838)
Transfers from (to) non-controlling interest.
Purchase of 5% of Ferrari S.p.A. (73) -
New shares issued by CNH Global N.V. (5) -
Other minor (3) -
Net transfers from (to) non-controlling interest (81) -
Total Profit/(loss) for the year and transfers from (to) non-controlling interest 439 (838)
Share-based compensation
At 31 December 2010 and at 31 December 2009, the following share-based compensation plans relating to managers of Group companies or certain
members of the Board of Directors of Fiat S.p.A. were in place.
Stock option plans linked to Fiat S.p.A. ordinary shares
The stock option plans approved by the Board of Directors of Fiat S.p.A. prior to 2002 had all fully expired at 31 December 2010.
The contractual terms of plans which expired during the year are as follows:
Strike Number of
price options Vesting
Plan Beneficiaries Grant date Expiry date (€) granted Vesting date portion
Stock Options May 2002 (expired) Former Chairman of Fiat S.p.A. 14 May 2002 1 January 2010 12.699 1,000,000 1 January 2005 100%
Stock Options September 2002 (expired) 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 Sergio Marchionne, as a part of his variable compensation as Chief Executive Officer, options to purchase
10,670,000 Fiat S.p.A. ordinary shares at a 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 acquired the right to purchase, beginning 1 June 2008, a maximum of 2,370,000 shares annually. As of 1 June 2008, he also acquired
the right to exercise, effective from that date, the remaining options on 3,560,000 shares as predetermined performance objectives for the reference period had
been met. On 27 March 2009, Shareholders considered it to be a priority interest for the Group to adopt changes to the plan which would reinstate its retention
capability and approved a new vesting period which depended solely on the requirement for the CEO to remain in office, deferring the exercise of these options
until 1 January 2011 and extending the exercise period until 1 January 2016, with all the other conditions remaining unaltered.