Chrysler 2010 Annual Report Download - page 369

FIAT S.P.A.
STATUTORY
FINANCIAL
STATEMENTS AT
31 DECEMBER
2010
NOTES
368
STOCK OPTIONS GRANTED TO MEMBERS OF THE BOARD OF DIRECTORS, GENERAL MANAGERS AND EXECUTIVES
WITH STRATEGIC RESPONSIBILITIES (ARTICLE 78 OF CONSOB REGULATION 11971/99)
Options
Options held at the Options granted Options exercised expired in Options held
Grantee beginning of the year during the year during the year the year at the end of the year
Average
Office held Average Exercise Average Exercise Average market price Average Exercise
at the date Number exercise period Number exercise period Number exercise at exercise Number Number exercise period
Name of the grant of options price (mm/yy) of options price (mm/yy) of options price date of options of options price (mm/yy)
Stock options
on Fiat shares (*)
01/05-
Paolo Fresco Chairman 500,000 12.699 01/10 (500,000) (6) - -
Sergio Chief Executive 11/10- 11/10-
Marchionne Officer 19,420,000 9.640 11/16 (1)(2) (2,500,000) (6) 16,920,000 9.09 11/16
Executives with
strategic 05/06- 02/11-
responsibilities 2,105,000 13.278 11/14 (3) (1,468,750) (6) 636,250 13.37 11/14
Stock options
on Ferrari shares
Luca Cordero 10/04-
di Montezemolo - 80,000 175 12/10 (4) (80,000) (6) - -
Stock options
on CNH shares (5)
Executives with
strategic
responsibilities - 149,939 23.481 01/15 111,250 31.076 02/16 (7) 40,046 15.776 33.000 - 221,143 28.697 02/16
(*) For further information, see Note 19 to Fiat S.p.A. financial statements.
(1) The vesting of one-third of the 2004 stock option grant was subject to the achievement of predetermined profit targets which was met in 2008, making the entire 2004 grant of 10,670,000 stock
options fully vested in 2008. At the March 2009 Annual General Meeting the Shareholders approved to extend the exercise period, beginning 1 January 2011 and expiring 1 January 2016.
(2) The vesting of one-half, or 5,000,000 stock options of the 2006 stock option grant was subject to the achievement of predetermined performance targets: only the first tranche (i.e. 25%) of those
rights vested. The exercise period begins with the approval of the 2010 Financial Statements and terminates in November 2014.
(3) Vesting of the options partially subject to achievement of predetermined performance targets. With reference to the portion subject to predetermined performance targets, only the first tranche (i.e.
25%) of those rights vested. The exercise period begins with the approval of the 2010 Financial Statements and terminates in November 2014.
(4) Options exercisable upon placement of Ferrari S.p.A. shares on the stock market.
(5) Prices expressed in US dollars.
(6) Options expired comprises either expired options or options forfeited during the period.
(7) Grants also include past grants of new executives with strategic responsibilities.