LensCrafters 2011 Annual Report Download - page 252

ANNUAL REPORT 2011> 176 |
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 2,059,000
2003 ordinary plan 2,397,300 2,061,200
2004 ordinary plan 2,035,500 1,432,800
2005 ordinary plan 1,512,000 665,744
2006 ordinary plan (*) 1,725,000 –
2007 ordinary plan (*) 1,745,000 –
2008 ordinary plan 2,020,500 278,000
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 –
2002 Performance Plan 1,170,000 –
2004 Performance Plan 1,000,000 900,000
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 –
2011 Ordinary Plan 2,039,000 –
Total 53,833,300 16,851,677
(*) 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 if certain financial targets set by the Board of Directors are
achieved over a specified three-year period. 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 if certain consolidated
cumulative earning per share targets are achieved over the three-year period from
2008-2010. As of December 31, 2010, the consolidated cumulative earning per share
targets were not achieved and therefore the plan did not vest.