Mercedes 2008 Annual Report Download - page 185
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Consolidated Financial Statements |Notes to Consolidated Financial Statements |181
Chrysler employees are still able to exercise their rights. Employ-
ees are allowed to exercise their rights within one year after leav-
ing the Group. For Chrysler employees who had an active status
on August 3, 2007, the possibility to exercise their rights expired
on August 3, 2008. Former employees with an inactive status at
deconsolidation are allowed to exercise their rights for a maxi-
mum of five years after leaving the Group. Exercises, and there-
fore the potential issue of new common shares, could cause an
increase in the share capital of Daimler, similar to exercises of
stock options by current Daimler employees. As of December 31,
2008, inactive Chrysler employees held 2.3 million exercisable
rights.
Due to the deconsolidation of the Chrysler activities, the out-
standing rights for Chrysler employees no longer result in a debt
from share-based payment. As of December 31, 2008, Daimler
recorded a provision for Chrysler rights that are not paid off.
The table below shows the basic terms of the SOP (in millions):
Options granted to the Board of Management in 2004 for which
– according to the recommendations of the German Corporate
Governance Code – the Presidential Committee can impose a
limit, or reserve the right to impose a limit in the event of excep-
tional and unpredictable developments, are measured at their
intrinsic values as of December 31.
Analysis of the stock options issued is as follows:
The weighted average share price of Daimler Ordinary Shares
during the exercise period was €45.86 (2007: €65.69; 2006:
€44.99).
Options
exer-
cisable
At December 31, 2008
Options out-
standing
Options
granted
Exercise
price
Reference
price
5.6
5.7
4.6
3.2
5.2
5.6
5.7
4.6
3.2
5.2
15.2
18.7
20.0
20.5
18.0
€74.76
€66.96
€51.52
€34.40
€43.57
€62.30
€55.80
€42.93
€28.67
€36.31
Year of grant
2000
2001
2002
2003
2004
53.92
–
37.06
65.72
56.00
57.75
2006
Average
exercise price
€ per share
57.66
-
39.11
66.75
56.61
56.61
29.1
-
(0.6)
(4.2)
24.3
24.3
Number of
stock options
in millions
2007
Average
exercise price
€ per share
2008
Average
exercise price
€ per share
Number of
stock options
in millions
Number of
stock options
in millions
67.1
–
(35.7)
(2.3)
29.1
29.1
56.00
-
53.89
67.97
57.66
57.66
79.6
–
(10.0)
(2.5)
67.1
58.8
Balance at beginning of the year
Options granted
Exercised
Disposal / Forfeited
Outstanding at year-end
Exercisable at year-end