LensCrafters 2013 Annual Report Download - page 185

Footnotes to the statutory financial statements as of December 31, 2013 Page 18 of 71
• Stock options. The total cost of stock option plans is determined on the basis of the fair value of the options
granted. At each reporting date, the Company revises its estimates of the number of options that are expected to
vest based on non-market vesting conditions. Any changes compared with the original estimates may have
significant effects on the cost of the plans with a consequent impact on the Company’s statement of income, assets
and liabilities and stockholders' equity.
Employment information. The average number of employees, analyzed by category, has undergone the
following changes since the prior year:
Employees 2013 2012 Change
Senior managers 105 88 17
Staff 722 636 86
Workers 618 415 203
Total 1,445 1,139 306
The increase since 2012 is primarily due to the aforementioned transfer of packaging activities to Luxottica Group
S.p.A.
The national collective labor agreement applied to the Company is that for textile companies - eyewear sector.
Treasury shares
Treasury shares are accounted for as a reduction in stockholders' equity. The original cost of the treasury shares and
the economic effects of any subsequent disposals are recognized in stockholders' equity.
The treasury shares reserve is Euro 83 million (Euro 91.9 million at December 31, 2012). The reduction is due to the
allotment of approximately 523 thousand treasury shares to employees after meeting the financial targets in the 2010
Performance Share Plan.
At December 31, 2013, Luxottica Group S.p.A. therefore holds 4,157,225 treasury shares.