Chrysler 2012 Annual Report Download - page 183

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Notes
182 Consolidated
Financial
Statements
at 31 December
2012
The contractual terms of the plan are as follows:
Plan Beneficiary Expiry date
Strike price
(€)
N° of options
granted Vesting date Vesting portion
Stock Option
November 2006
Chief Executive Officer 3 November 2014 13.37 5,000,000 November 2007
November 2008
November 2009
November 2010
25%
25%
25%
25%
Stock Option
November 2006
Chief Executive Officer 3 November 2014 13.37 5,000,000 1st Quarter 2008 (*)
1st Quarter 2009 (*)
1st Quarter 2010 (*)
1st Quarter 2011 (*)
25%xNMC
25%xNMC
25%xNMC
25%xNMC
Stock Option
November 2006
Managers 3 November 2014 13.37 10,000,000 1st Quarter 2008 (*)
1st Quarter 2009 (*)
1st Quarter 2010 (*)
1st Quarter 2011 (*)
25%xNMC
25%xNMC
25%xNMC
25%xNMC
(*) On approval of the prior year’s consolidated financial statements; subject to continuation of the professional relationship.
With specific reference to the options granted to under the November 2006 Stock Option Plan, for which vesting was subject to the achievement of pre-
established profitability targets, only the first tranche of those rights had vested as the profitability targets originally established for the 3-year period 2008-
2010 were not met.
A summary of the terms of the stock option plans outstanding at 31 December 2012 is as follows:
Managers’ compensation Compensation to the Chief Executive Officer
Exercise price (€)
Options
outstanding at
31 December 2012
Options
outstanding at
31 December 2011
Average remaining
contractual life
(years)
Options
outstanding at
31 December 2012
Options
outstanding at
31 December 2011
Average remaining
contractual life
(years)
6.583 -- - 10,670,000 10,670,000 3.0
13.370 1,576,875 1,636,875 1.8 6,250,000 6,250,000 1.8
Total 1,576,875 1,636,875 16,920,000 16,920,000
Changes during the year 2012 were as follows:
Managers’ compensation
Compensation to
the Chief Executive Officer
Number
of options
Average
exercise price (€)
Number
of options
Average
exercise price (€)
Outstanding at the beginning of the year 1,636,875 13.37 16,920,000 9.09
Granted - - - -
Forfeited - - - -
Exercised - - - -
Expired (60,000) 13.37 - -
Outstanding at 31 December 2012 1,576,875 13.37 16,920,000 9.09
Exercisable at 31 December 2012 1,576,875 13.37 16,920,000 9.09
Exercisable at 31 December 2011 1,636,875 13.37 16,920,000 9.09
As they were already fully vested at 31 December 2010, the above stock option plans did not lead to any nominal cost for 2012 and 2011.