HSBC 2012 Annual Report Download - page 499

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Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
During 2011 and 2012 there were no HSBC Private Bank France shares issued and no shares were exchanged for
HSBC Holdings ordinary shares. During 2012, 22,645 options over HSBC France shares lapsed (2011: 141,525).
At 31 December 2012 no options over HSBC France shares were outstanding.
At 31 December 2012, The CCF Employee Benefit Trust 2001 (Private Banking France) held 989,502 (2011:
989,502) HSBC Holdings ordinary shares.
HSBC France options outstanding over HSBC Holdings ordinary shares
Number of HSBC
France shares
exchangeable for
HSBC Holdings
ordinary shares Period of exercise Exercise price
31 December 2012 .......................................................... – 2012 €142.84
31 December 20111 .......................................................... 22,645 2012 €142.84
31 December 2010 ........................................................... 287,100 2011 to 2012 €20.80 – 22.22
1 These options replaced the options over shares in HSBC Private Bank France which were outstanding on 31 October 2011 prior to the
merger taking place.
HSBC Finance
Upon the acquisition of HSBC Finance in 2003, all outstanding options over, and rights to receive, HSBC Finance
common shares were converted into options over, and 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). The exercise price payable for each option was adjusted using the same ratio.
During 2012, 2,053,838 (2011: nil) options were exercised over HSBC Holdings ordinary shares and 2,053,838
(2011: nil) HSBC Holdings ordinary shares were delivered from The HSBC (Household) Employee Benefit Trust
2003. During 2012, options over 375,700 (2011: 8,688,288) HSBC Holdings ordinary shares lapsed. At
31 December 2012 no options over HSBC Holdings ordinary share were outstanding.
At 31 December 2012, The HSBC (Household) Employee Benefit Trust 2003 held a total of 281,477 (2011:
2,335,315) HSBC Holdings ordinary shares and 1,455 (2011: 1,455) ADSs. Each ADS represents five HSBC
Holdings ordinary shares.
Options outstanding over HSBC Holdings ordinary shares under the HSBC Finance share plan
Number of
HSBC Holdings
ordinary shares Period of exercise Exercise price
31 December 2012 .......................................................... – 2012 US$9.29
31 December 2011 ........................................................... 2,429,538 2012 US$9.29
31 December 2010 ........................................................... 11,117,826 2011 to 2012 US$9.29 – 18.62
HSBC Bank Bermuda plans
Upon the acquisition of HSBC Bank Bermuda Limited (‘HSBC Bank Bermuda’) in 2004, all outstanding options
over HSBC Bank Bermuda shares were converted into options to acquire HSBC Holdings ordinary shares using an
exchange ratio calculated by dividing US$40 (being the consideration paid for each HSBC Bank Bermuda Share)
by the average price of HSBC Holdings ordinary shares over the five-day period to the completion of the acquisition.
The exercise price payable for each option was adjusted using the same exchange ratio.
During 2011 and 2012 there were no options exercised over HSBC Holdings ordinary shares and no shares were
delivered from the HSBC (Bank of Bermuda) Employee Benefit Trust 2004. During 2012, options over 880,983
(2011: 2,108,830) HSBC Holdings ordinary shares lapsed.
At 31 December 2012, the HSBC (Bank of Bermuda) Employee Benefit Trust 2004 held 2,108,830
(2011: 2,108,830) HSBC Holdings ordinary shares which may be used to satisfy the exercise of employee options.