Chrysler 2014 Annual Report Download - page 219

2014 | ANNUAL REPORT 217
Deferred Phantom Shares issued by FCA US
During 2009, the Special Master approved the FCA US DPS Plan which authorized the issuance of Phantom Shares.
Under the DPS Plan, Phantom Shares were granted to certain key employees as well as to the Chief Executive Officer
in connection with his role as a member of the FCA US Board of Directors. The Phantom Shares vested immediately
on the grant date and were settled in cash in three equal annual installments. At December 31, 2014, there were no
outstanding awards under the DPS Plan.
Changes during 2014, 2013 and 2012 were as follows:
Adjusted for Anti-Dilution
2014 2013 2012
Phantom
Shares
Weighted
average fair
value at the
grant date (€)
Phantom
Shares
Weighted
average fair
value at the
grant date (€)
Phantom
Shares
Weighted
average fair
value at the
grant date (€)
Outstanding shares at the
beginning of the year 413,521 3.49 1,957,494 2.07 6,414,963 1.41
Granted and Vested — — ————
Settled (413,521) 3.61 (1,543,973) 1.64 (4,457,469) 1.11
Outstanding shares
at the end of the year — — 413,521 3.49 1,957,494 2.07
As Previously Reported
2013 2012
Phantom
Shares
Weighted
average fair
value at the
grant date (€)
Phantom
Shares
Weighted
average fair
value at the
grant date (€)
Outstanding shares at the beginning of the year 1,508,785 2.68 4,944,476 1.83
Granted and Vested — — — —
Settled (1,190,054) 2.13 (3,435,691) 1.43
Outstanding shares at the end of the year 318,731 4.53 1,508,785 2.68
The expense recognized in connection with the DPS Plan in 2014 was less than €1 million and was approximately €2
million in 2013 and in 2012.