Mercedes 2015 Annual Report Download - page 229

236 E | CONSOLIDATED FINANCIAL STATEMENTS | NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Stock option plans
In April 2000, the Annual Shareholders’ Meeting approved
the Daimler Stock Option Plans (SOP), which granted stock
options for the purchase of Daimler ordinary shares to eligible
employees. Options granted under the SOP were exercisable
at a reference price per Daimler ordinary share, which was deter-
mined in advance, plus a 20% premium. The options became
exercisable in equal installments at the earliest on the second
and third anniversaries of the date of grant. All unexercised
options expired ten years after the date of grant. If the market
price per Daimler ordinary share on the date of exercise
was at least 20% higher than the reference price, the holder
was entitled to receive a cash payment equal to the original
exercise premium of 20%. No new stock options were granted
after 2004. The last SOP plan 2004 forfeited on March 31, 2014.
All unexercised rights expired.
Table  E.47 shows the development of the stock options
issued.
In 2014, the weighted average share price of Daimler
ordinary shares during the exercise period was €66.40.
22. Pensions and similar obligations
Table  E.48 shows the composition of provisions for pension
benefit plans and similar obligations.
At the Daimler Group, defined benefit pension obligations exist
as well as, to a smaller extent, defined contribution pension
obligations, specific to the various countries. In addition, health-
care benefit obligations are recognized outside Germany.
Defined benefit pension plans
Provisions for pension obligations are made for defined commit-
ments to active and former employees of the Daimler Group
and their survivors. The defined benefit pension plans provided
by Daimler generally vary according to the economic, tax and
legal circumstances of the country concerned. Most of the
defined benefit pension plans also provide benefits in the case
of invalidity and death.
The Group’s main German and non-German pension plans
are described below.
Development of the stock options issued
Number of
stock options
in millions
2015
Average
exercise price in
euros per share
Number of
stock options
in millions
2014
Average
exercise price in
euros per share
Balance at beginning of year – – 0.2 43.57
Exercised – – -0.1 43.57
Disposals/Forfeited – – -0.1 43.57
Outstanding at end of year – – – –
Exercisable at end of year – – – –
E.47