HSBC 2007 Annual Report Download - page 316

HSBC HOLDINGS PLC
Report of the Directors: Governance (continued)
Employees > Subsidiary company share plans
314
HSBC France
shares of €5
Date of
award
Exercise
price (€)
Exercisable
from
Exercisable
until
Options at
1 January
2007
Options
exercised
during year1
Options
lapsed
during year
Options at
31 December
20071
7 May 1997 37.05 7 Jun 2000 7 May 2007 66,000 66,000 – –
29 Apr 1998 73.48 7 Jun 2000 29 Apr 2008 192,154 91,775 – 100,379
7 Apr 1999 81.71 7 Jun 2000 7 Apr 2009 383,602 79,200 – 304,402
12 Apr 2000 142.50 1 Jan 2002 12 Apr 2010 646,125 43,875 – 602,250
1 Following exercise of the options, the HSBC France shares will be exchanged for HSBC Holdings ordinary shares in the same ratio as
for the acquisition of HSBC France (13 HSBC Holdings ordinary shares for each HSBC France share). At 31 December 2007, The
HSBC Holdings Employee Benefit Trust 2001 (No. 1) held 11,665,278 HSBC Holdings ordinary shares which may be exchanged for
HSBC France shares arising from the exercise of these options.
HSBC Private Bank France
shares of €2
Date of
award
Exercise
price (€)
Exercisable
from
Exercisable
until
Options at
1 January
2007
Options
exercised
during year1
Options
lapsed
during year
Options at
31 December
20071
21 Dec 1999 10.84 21 Dec 2000 21 Dec 2009 57,130 23,880 – 33,250
9 Mar 2000 12.44 27 Jun 2004 31 Dec 2010 27,626 7,000 – 20,626
15 May 2001 20.80 15 May 2002 15 May 2011 155,025 13,500 – 141,525
1 Oct 2002 22.22 2 Oct 2005 1 Oct 2012 163,075 17,500 – 145,575
1 Following exercise of the options, the HSBC Private Bank France shares will be exchanged for HSBC Holdings ordinary shares in the
ratio of 1.83 HSBC Holdings ordinary shares for each HSBC Private Bank France share. At 31 December 2007, The CCF Employee
Benefit Trust 2001 held 955,952 HSBC Holdings ordinary shares which may be exchanged for HSBC Private Bank France shares
arising from the exercise of these options.
HSBC Finance and its subsidiaries
Following the acquisition of HSBC Finance in 2003,
all outstanding options and equity-based awards over
HSBC Finance common shares were converted into
rights to receive HSBC Holdings ordinary shares in
the same ratio as the share exchange offer for the
acquisition of HSBC Finance (2.675 HSBC
Holdings ordinary shares for each HSBC Finance
common share) and the exercise prices per share
were adjusted accordingly. No further options will
be granted under any of these plans.
All outstanding options and other equity-based
awards over HSBC Finance common shares granted
before 14 November 2002, being the date the
transaction was announced, vested on completion of
the acquisition. Options and equity-based awards
granted on or after 14 November 2002 are
exercisable on their original terms, save that they
have been adjusted to reflect the exchange ratio.
The following are details of options and equity-
based awards to acquire shares in HSBC Holdings.
At 31 December 2007, the HSBC (Household)
Employee Benefit Trust 2003 held 1,856,417 HSBC
Holdings ordinary shares and 196,455 American
Depositary Shares, each of which represents five
HSBC Holdings ordinary shares, which may be used
to satisfy the exercise of employee share options.