Chrysler 2015 Annual Report Download - page 201

2015 | ANNUAL REPORT 201
2012 LTIP Plan
In February 2012, the Compensation Committee of FCA US approved the 2012 LTIP Plan that covers senior
executives of FCA US (other than the Chief Executive Officer). As of December 31, 2015, only restricted share units
(“LTIP RSUs”) remain outstanding under the plan, all of which will be settled prior to March 31, 2016.
Changes during 2015, 2014 and 2013 were as follows:
Adjusted for Anti-Dilution
Year Ended December 31,
2015 2014 2013
LTIPRSUs
Weighted
averagefair
value at the
grant date
(€) LTIPRSUs
Weighted
averagefair
value at the
grant date
(€) LTIPRSUs
Weighted
averagefair
value at the
grant date
(€)
Outstanding shares unvested at
the beginning of the year 2,303,928 4.67 4,054,807 4.08 2,712,700 3.85
Granted — — — — 2,447,759 4.59
Vested (1,544,664) 4.98 (1,630,392) 4.15 (924,682) 3.84
Forfeited (104,558) 5.36 (120,487) 4.24 (180,970) 4.13
Outstanding shares unvested
at the end of the year 654,706 5.50 2,303,928 4.67 4,054,807 4.08
As Previously Reported
December 31, 2014 December 31, 2013
LTIPRSUs
Weighted
averagefair
value at the
grant date
(€) LTIPRSUs
Weighted
averagefair
value at the
grant date
(€)
Outstanding shares unvested at the beginning of the year 3,500,654 4.73 2,341,967 4.46
Granted — — 2,113,234 5.32
Vested (1,407,574) 4.81 (798,310) 4.45
Forfeited (104,020) 4.91 (156,237) 4.78
Outstanding shares unvested at the end of the year 1,989,060 5.41 3,500,654 4.73
Year Ended December 31,
2015 2014 2013
LTIPPSUs(1)
Weighted
averagefair
value at the
grant date
(€) LTIPPSUs(1)
Weighted
averagefair
value at the
grant date
(€) LTIPPSUs(1)
Weighted
averagefair
value at the
grant date
(€)
Outstanding shares unvested at
the beginning of the year 5,320,540 8.62 8,417,511 5.64 8,419,684 5.78
Granted — — 5,556,503 7.62 587,091 7.15
Vested (5,302,138) 9.44 — — — —
Forfeited (18,402) 9.44 (8,653,474) 5.89 (589,264) 5.77
Outstanding shares unvested
at the end of the year — — 5,320,540 8.62 8,417,511 5.64
(1) Not adjusted for the 2015 anti-dilution based on the amendment approved on May 12, 2014.
The expense recognized in connection with the 2012 LTIP Plan in 2015 was €4 million (€6 million in 2014 and €36
million in 2013). Total unrecognized compensation expense at December31, 2015 was less than €1 million, which will
be recognized over the remaining service periods. The corresponding tax benefit for the year ended December 31,
2015 was €2 million and for the years ended December 31, 2014 and 2013, the tax benefit was immaterial.