DHL 2014 Annual Report Download - page 214

 
2009 tranche 2010 tranche 2011 tranche 2012 tranche 2013 tranche 2014 tranche s
Issue date 1 July 2009 1 July 2010 1 July 2011 1 July 2012 1 Aug. 2013 1 Sept. 2014
Issue price  9.52 12.27 12.67 13.26 20.49 24.14
Waiting period expires 30 June 2013 30 June 2014 30 June 2015 30 June 2016 31 July 2017 31 Aug. 2018
See Note . for further disclosures on share-based payment for
members of the Board of Management.
.  Plan for executives
From July  to August , selected executives received
annual tranches of  under the  Plan. is allowed them to
receive a cash payment within a dened period in the amount of
the dierence between the respective price of Deutsche Post shares
and the xed issue price if demanding performance targets are
met (see disclosures on the   for members of the Board
of Management). All  s granted under the  and 
tranches expired at the end of the respective waiting periods, since
the related performance targets were not met. On expiry of the
waiting period for the  tranche on  June , two-sixths
of the  s granted became exercisable. ese  s were eligible
to be exercised shortly before the end of the exercise period, as the
share price performed well and exceeded the issue price of ..
e exercise period for these  s terminated on  June . e
waiting period for the  tranche also ended on  June .
Due to the strong share price performance since the  s were
issued in , most of these  s were exercised in . e
related performance targets were also met on expiry of the waiting
period for the  tranche on  June . All  s granted in
 were able to be exercised. Most executives exercised the  s
under this tranche as early as .
Starting in ,  s were no longer issued to executives
under the  Plan. e Performance Share Plan  for execu-
tives replaces the  Plan. All earlier  tranches issued under
the old  Plan remain valid.
More details on the  Plan tranches are shown in the fol-
lowing table:
 Plan
2009 tranche 2010 tranche 2011 tranche 2012 tranche 2013 tranche s
Issue date 1 July 2009 1 July 2010 1 July 2011 1 July 2012 1 Aug. 2013
Issue price  9.52 12.27 12.67 13.26 20.49
Waiting period expires 30 June 2013 30 June 2014 30 June 2015 30 June 2016 31 July 2017
e fair value of the  Plan and the   was determined
using a stochastic simulation model. As a result, an expense of
 million was recognised for nancial year  (previous year:
 million).
A provision for the   and the  Plan was recog-
nised as at the balance sheet date in the amount of  million
(previous year:  million), of which  million (previous year:
 million) was attributable to the Board of Management.  mil-
lion of the total provision (previous year:  million) related to
rights exercisable at the reporting date.
. Performance Share Plan for executives
e Annual General Meeting on  May  resolved to intro-
duce the Performance Share Plan  for executives. is plan
replaces the former share-based payment system ( Plan) for
executives. Whereas the  Plan involved cash-settled share-
based payments, under the  shares are issued to participants at
the end of the waiting period. Under the , the granting of the
shares at the end of the waiting period is linked to the achievement
of demanding performance targets. e performance targets under
the  are identical to the performance targets under the  for
members of the Board of Management.
Performance Share Units  s were issued to selected
executives under the  for the rst time on  September .
It is not planned that members of the Board of Management will
partici pate in the . e Long-Term Incentive Plan  
for members of the Board of Management remains unchanged.
In the consolidated nancial statements as at  Decem-
ber , a total of  million (previous year:  million) has been
added to capital reserves for the purposes of the plan; Note .
e value of the  is measured using actuarial methods
based on option pricing models (fair value measurement). e
expense for nancial year  amounted to  million and was
recognised in sta costs.
Deutsche Post  Group —  Annual Report
208