Unilever 2001 Annual Report Download - page 84

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Unilever Annual Report & Accounts and Form 20-F 2001
NOTES TO THE CONSOLIDATED ACCOUNTS
Unilever Group
>81
Financial Statements
28 Equity-based compensation plans continued
A summary of the status of the All-Employee Plans as at 31 December 2001, 2000 and 1999 and changes during the years ended on these
dates is presented below:
2001 2000 1999
Weighted Weighted Weighted
Number of average Number of average Number of average
shares price shares price shares price
NV shares of 0.51
Outstanding at 1 January 1 634 437 54.41 690 838 54.38 467 687 47.06
Granted 1 853 007 64.65 1 204 863 53.05 276 751 63.65
Exercised (225 614) 51.85 (125 707) 40.72 (53 600) 38.30
Forfeited/Expired (a) (152 570) 57.10 (135 557) 54.94 ––
Outstanding at 31 December 3 109 260 60.56 1 634 437 54.41 690 838 54.38
Exercisable at 31 December 42 412 42.99 94 861 37.58 159 489 33.31
PLC shares of 1.4p
Outstanding at 1 January 26 512 577 £4.14 30 777 318 £4.00 32 029 021 £3.58
Granted 4 411 833 £5.29 7 960 043 £4.25 6 252 700 £5.14
Exercised (5 756 768) £2.94 (5 717 614) £2.74 (4 521 318) £2.42
Forfeited/Expired (a) (3 165 328) £4.62 (6 507 170) £4.84 (2 983 085) £4.30
Outstanding at 31 December 22 002 314 £4.61 26 512 577 £4.14 30 777 318 £4.00
Exercisable at 31 December 250 760 £2.78 192 156 £2.68 127 864 £2.29
NV New York shares of 0.51
Outstanding at 1 January 470 680 $52.43 633 913 $52.43 785 756 $47.83
Granted ––––633 913 $52.43
Exercised (255 208) $52.43 ––(701 897) $47.83
Forfeited/Expired (a) (215 472) $52.43 (163 233) $52.43 (83 859) $47.83
Outstanding at 31 December ––470 680 $52.43 633 913 $52.43
Exercisable at 31 December ––––––
(a) The number of expired options is immaterial.
2001 2000 1999
NV option value information (b)
Fair value per option (c) 15.13 10.18 13.43
Valuation assumptions
Expected option term 3.5 years 4.0 years 3.0 years
Expected volatility 29.3% 28.6% 29.5%
Expected dividend yield 2.2% 4.5% 1.6%
Risk-free interest rate 4.5% 4.9% 3.2%
PLC option value information (b)
Fair value per option (c) £1.31 £1.05 £1.40
Valuation assumptions
Expected option term 4.7 years 5.0 years 5.0 years
Expected volatility 28.1% 25.6% 25.0%
Expected dividend yield 2.8% 3.3% 2.8%
Risk-free interest rate 5.4% 5.7% 5.2%
NV New York shares option value information (b)
Fair value per option (c) ––$14.80
Valuation assumptions
Expected option term ––2.0 years
Expected volatility ––34.2%
Expected dividend yield ––1.2%
Risk-free interest rate ––3.7%
Actual compensation costs recognised (million) 4 46
(b) Weighted average of options granted during each period.
(c) Estimated using Black Scholes option pricing method.