LensCrafters 2012 Annual Report Download - page 261

| 175 >CONSOLIDATED FINANCIAL STATEMENTS - NOTES
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 earnings per share targets are achieved over the three-year period from 2008
through 2010. As of December 31, 2010, the consolidated cumulative earnings per share
targets were not achieved and therefore the plan did not vest.
Pursuant to the PSP plan adopted in 2008, on May 7, 2009, the Board of Directors granted
certain of our key employees 1,435,000 rights to receive ordinary shares (“PSP 2009”), which
can be increased by 25 percent up to a maximum of 1,793,750 units, if certain consolidated
cumulative earnings per share targets are achieved over the three-year period from 2009
through 2011. As of December 31, 2011, the consolidated cumulative earnings per share
targets were achieved and therefore the rights under the plan vested. Pursuant to the PSP
plan adopted in 2008, on April 29, 2010, the Board of Directors granted certain of our key
employees 692,000 rights to receive ordinary shares (“PSP 2010”), which can be increased
by 25 percent up to a maximum of 865,000 units, if certain consolidated cumulative
earnings per share targets are achieved over the three-year period from 2010 through
2012. Management expects that the targets will be met. As of December 31, 2012, 62,500
of the 865,000 units granted had been forfeited.
Pursuant to the PSP plan adopted in 2008, on April 28, 2011, the Board of Directors granted
certain of our key employees 665,000 rights to receive ordinary shares (“PSP 2011”), which
can be increased by 15 percent up to a maximum of 764,750 units, if certain consolidated
cumulative earnings per share targets are achieved over the three-year period from 2011
through 2013. Management expects that the targets will be met. As of December 31, 2011,
11,500 of the 764,750 units granted had been forfeited.
Pursuant to the PSP plan adopted in 2008, on May 7, 2012, the Board of Directors granted
certain of our key employees 601,000 rights to receive ordinary shares (“PSP 2012”), which
may be increased by 20 percent up to a maximum of 721,200 units, if certain consolidated
cumulative earnings per share targets are achieved over the three-year period from 2012
through 2014. Management expects that the target will be met. As of December 31, 2012,
there were forfeitures of the 721,200 granted.
The information requested by IFRS 2 on stock option plans is reported below.