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Unilever Annual Report & Accounts and Form 20-F 2000 Financial Statements
86
Notes to the consolidated accounts
Unilever Group
Unilever Annual Report & Accounts and Form 20-F 2000
34 Equity based compensation plans continued
A summary of the status of the French Employee Option Plan as at 31 December 2000, 1999 and 1998 and changes during these years is
presented below :
2000 1999 1998
Weighted Weighted Weighted
Number average Number average Number average
of shares price of shares price of shares price
Outstanding at 1 January — — — — — —
Granted 442 000 53.05 — — — —
Exercised — — — — — —
Forfeited (85 134) 53.05 — — — —
Outstanding at 31 December 356 866 53.05 — — — —
Options exercisable at 31 December — — — — — —
2000 1999 1998
Option value information (a)
Fair value per option (b) 10.26 — —
Valuation assumptions
Expected option term 5 years — —
Expected volatility 26.59% — —
Expected dividend yield 4.51% — —
Risk-free interest rate 4.91% — —
(a) Weighted average of options granted during each period.
(b) Estimated using Black Scholes option pricing method.
The follow ing table summarises information about fixed price stock options outstanding at 31 December 2000:
Options Outstanding Options Exercisable
Number Weighted Number
outstanding at average Weighted exercisable at Weighted
Range of 31 December remaining average 31 December average
exercise prices 2000 contractual life exercise price 2000 exercise price
53.05 356 866 4 years 53.05 — —
The NA Executive Option Plan
The NA Executive Option Plan provides for the granting of options to purchase a maximum of 3 200 000 shares in Unilever N.V. of the New
York Registry, and from 1997 4 000 000 shares of Unilever PLC, to key employees of the Group. Under the NA Executive Option Plan,
options are granted on a discretionary basis to acquire shares at market value on the day options are granted.
These options become exercisable over a three-year period from the date of grant and have a maximum term of ten years.
A summary of the status of the NA Executive Option Plan as at 31 December 2000, 1999 and 1998 and the changes during the years
ended on these dates is presented below:
2000 1999 1998
Weighted Weighted Weighted
Number average Number average Number average
of shares price of shares price of shares price
NV Options
Outstanding at 1 January 1 963 471 US$45.41 1 702 300 US$41.04 1 735 963 US$33.64
Granted 294 645 US$51.77 293 888 US$69.19 261 073 US$76.69
Exercised (185 740) US$30.53 (23 933) US$29.27 (291 802) US$29.01
Forfeited (41 435) US$65.22 (8 784) US$38.41 (2 934) US$33.79
Outstanding at 31 December 2 030 941 US$47.29 1 963 471 US$45.41 1 702 300 US$41.04
Options exercisable at 31 December 1 473 860 US$42.00 1 388 599 US$36.21 1 073 084 US$31.83