LensCrafters 2013 Annual Report Download - page 148

2009 Ordinary Plan: reassignment of options granted under the 2006 and 2007 Ordinary
Plans to non-US beneficiaries 2,060,000
1,416,500
2009 Ordinary Plan: reassignment of options granted under the 2006 and 2007 Ordinary
Plans to US beneficiaries 825,000
559,500
2002 Performance Plan 1,170,000 —
2004 Performance Plan 1,000,000 1,000,000
2006 Performance Plan—US beneficiaries(*) 3,500,000 —
2006 Performance Plan—non-US beneficiaries(*) 9,500,000 1,100,000
2009 Performance Plan: reassignment of options granted under the 2006 performance
plans to non-US domiciled beneficiaries 4,250,000
1,800,000
2009 Performance Plan: reassignment of options granted under the 2006 performance
plans to US domiciled beneficiaries 1,450,000
1,200,000
2010 Ordinary Plan 1,924,500 873,340
2011 Ordinary Plan 2,039,000 5,000
2012 Ordinary Plan 2,076,500 —
Total 55,909,800 27,060,673
(*) 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 (the “Board”) of the Company (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 are
achieved over a specified three-year period. The 2008 PSP, which expired in 2013, had a term of five years, during
which time the Board authorized the issuance of five grants to the 2008 PSP beneficiaries.
Pursuant to the PSP plan adopted in 2008, on April 28, 2011, the Board granted certain of our key employees
665,000 rights to receive ordinary shares (“PSP 2011”), which can be increased by 15% 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 believes that Group will reach 90% of the target. As of December 31, 2013 120,750 units
granted had been forfeited.
Pursuant to the PSP plan adopted in 2008, on May 7, 2012, the Board granted certain of our key employees
601,000 rights to receive ordinary shares (“PSP 2012”), which may be increased by 20% up to a maximum of 721,200
units, if certain consolidated cumulative earning 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, 2013, 67,200 unites granted had
been forfeited.
On April 29, 2013, a Performance Shares Plan for senior managers within the Company as identified by the
Board (the “2013 PSP”) was adopted. The beneficiaries of the 2013 PSP are granted the right to receive ordinary shares,
without consideration, if certain financial targets set by the Board are achieved over a specified three-year period.
On the same date, the Board granted certain of our key employees 1,067,900 rights to receive ordinary shares
which may be increased by 20% up to a maximum of 1,281,480 units, if certain consolidated cumulative earning per
share targets are achieved over the three-year period from 2013 through 2015. Management expects that the target will
be met. As of December 31, 2013, none of the 22,440 units granted had been forfeited.
The information required by IFRS 2 on stock option plans is reported below.
The fair value of the stock options was estimated on the grant date using the binomial model and following
weighted average assumptions:
PSP 2013
Share price at the grant date (in Euro) 40.82
Expected option life 3 years
Dividend yield 1.92%
The fair value of the units granted under the 2013 PSP was Euro 38.56 per unit.
Movements reported in the various stock option plans in 2013 are reported below: