LensCrafters 2010 Annual Report Download - page 180

ANNUAL REPORT 2010> 178 |
In connection with the reassignment of options related to the Company’s 2006 performance plan, the employees who
surrendered their options received the right to purchase the same number of Luxottica Group ordinary shares that were
subject to the options he or she previously held pursuant to the above–mentioned grant, reduced by 50 percent, for a
total amount of 5,700,000 options.
In total, the Board of Directors approved the following stock option plans:
Plan Granted Exercised
1998 ordinary plan 3,380,400 2,716,600
1999 ordinary plan 3,679,200 3,036,800
2000 ordinary plan 2,142,200 1,852,533
2001 ordinary plan 2,079,300 1,849,000
2002 ordinary plan 2,348,400 1,957,100
2003 ordinary plan 2,397,300 1,711,100
2004 ordinary plan 2,035,500 1,148,577
2005 ordinary plan 1,512,000 445,500
2006 ordinary plan (*) 1,725,000 –
2007 ordinary plan (*) 1,745,000 –
2008 ordinary plan 2,020,500 –
2009 ordinary plan 1,050,000 –
2009 ordinary plan: reassignment of options granted under the 2006 and 2007 ordinary
plans to non–US beneficiaries 2,060,000 –
2009 ordinary plan: reassignment of options granted under the 2006 and 2007 ordinary
plans to US beneficiaries 825,000 –
2001 Performance Plan 1,170,000 –
2004 Performance Plan 1,000,000 860,000
2006 Performance Plan – US beneficiaries (*) 3,500,000 –
2006 Performance Plan – non–US beneficiaries (*) 9,500,000 –
2009 Performance plan: reassignment of options granted under the 2006 performance
plans to non–US domiciled beneficiaries 4,250,000 –
2009 Performance plan: reassignment of options granted under the 2006 performance
plans to US domiciled beneficiaries 1,450,000 –
2010 ordinary plan 1,924,500 –
Total 51,794,300 15,577,210
(*) The plan was reassigned in 2009.
On May 13, 2008, a Performance Shares Plan for senior managers within the Company as identified by the Board of
Directors of the Company (the “Board”) (the “2008 PSP”) was adopted. The beneficiaries of the 2008 PSP are granted
the right to receive ordinary shares, without consideration, at the end of the three–year vesting period, and subject to
achievement of certain Company performance targets to be determined by the Board. The 2008 PSP has a term of five
years, during which time the Board may resolve to issue different grants to the 2008 PSP’s beneficiaries. The 2008 PSP
covers a maximum of 6,500,000 ordinary shares. Each annual grant will not exceed 2,000,000 ordinary shares.
On May 13, 2008, the Board granted 1,003,000 rights to receive ordinary shares, which could be increased by 20 percent
up to a maximum of 1,203,600 units, at the end of the three–year vesting period and subject to the achievement at the