HSBC 2011 Annual Report Download - page 248

HSBC HOLDINGS PLC
Report of the Directors: Corporate Governance (continued)
Employees > Employee share plans / Subsidiary company share plans
246
HSBC Holdings All-employee Share Option Plans
HSBC Holdings ordinary shares of US$0.50
Dates of award Exercise price Exercisable At Awarded Exercised Lapsed At
from to from to from to 1 Jan 2011 during year during year during year 31 Dec 2011
Savings-Related Share Option Plan1
24 May
2005
20 Apr
2011
(£)
3.3116
(£)
6.6870
1 Aug
2010
31 Jan
2017 67,737,865 7,742,930 1,387,867 5,593,819 68,499,109
Savings-Related Share Option Plan: International2
24 May
2005
20 Apr
2011
(£)
3.3116
(£)
6.6870
1 Aug
2010
31 Jan
2017 28,660,942 7,557,671 2,733,297 6,870,063 26,615,253
26 Apr
2006
20 Apr
2011
(US$)
4.8876
(US$)
12.0958
1 Aug
2010
31 Jan
2017 10,899,415 2,189,050 840,284 2,496,115 9,752,066
26 Apr
2006
20 Apr
2011
(€)
3.6361
(€)
9.5912
1 Aug
2010
31 Jan
2017 3,128,508 581,297 127,587 405,953 3,176,265
26 Apr
2006
20 Apr
2011
(HK$)
37.8797
(HK$)
94.5057
1 Aug
2010
31 Jan
2017 47,428,892 5,127,912 2,350,010 4,784,283 45,422,511
1 The weighted average closing price of the shares immediately before the dates on which options were exercised was £6.07.
2 The weighted average closing price of the shares immediately before the dates on which options were exercised was £5.90.
Discretionary Share Option Plans
HSBC Holdings ordinary shares of US$0.50
Dates of award Exercise price Exercisable At Exercised Lapsed At
from to from to from to 1 Jan 2011 during year2 during year 31 Dec 2011
HSBC Holdings Group Share Option Plan1
23 Apr
2001
20 Apr
2005
(£)
6.0216
(£)
7.9606
23 Apr
2004
20 Apr
2015 153,189,587 645,987 31,751,804 120,791,796
HSBC Share Plan
30 Sep
2005
(£)
7.9911
30 Sep
2008
30 Sep
2015 86,046 – – 86,046
1 The HSBC Holdings Group Share Option Plan expired on 26 May 2005. No options have been granted under the Plan since that date.
2 The weighted average closing price of the shares immediately before the dates on which options were exercised was £6.90.
There have been no grants of discretionary share
options under employee share plans since
30 September 2005.
Subsidiary company share plans
HSBC France and subsidiary company
When it was acquired in 2000, HSBC France and
certain of its subsidiary companies, including HSBC
Private Bank France, operated employee share
option plans under which options could be granted
over their respective shares.
On 31 October 2011, HSBC Private Bank
France merged with HSBC France. Options held
over shares of HSBC Private Bank France were
converted into options held over shares of HSBC
France, at an exchange ratio of 7 HSBC France
shares for 45 HSBC Private Bank France shares. The
exercise price payable for each option was adjusted
using the same exchange ratio.
Details of outstanding options to acquire shares
in HSBC Private Bank France before the merger
with HSBC France are set out in the following table
headed ‘HSBC Private Bank France’. Details of
outstanding options to acquire shares in HSBC
France after the merger are set out in the following
table headed ‘HSBC France’. All holders of options
to acquire shares of HSBC France are obliged to
exchange the HSBC France shares they receive on
exercise of these options for HSBC Holding shares.
No further options will be granted under the share
plans of HSBC Private Bank France or HSBC
France.