Unilever 2001 Annual Report Download - page 89

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Unilever Annual Report & Accounts and Form 20-F 2001
NOTES TO THE CONSOLIDATED ACCOUNTS
Unilever Group
>86
28 Equity-based compensation plans continued
2001
NV option value information (b)
Fair value per option (h) 57.33
PLC option value information (b)
Fair value per option (h) £5.11
Actual compensation costs recognised (million) 2
(b) Weighted average of options granted during each period.
(h) Estimated using adapted binomial pricing model based on cross-volatilities of peer group TSR
(v) The Restricted Share Plan
During 2000 and 2001 a number of executives have been awarded the right to receive NV and PLC shares at a specified date in the future
between 2001 and 2003, on the condition that they will still be employed by Unilever at that time. No directors participate in this plan.
A summary of the status of the Restricted Share Plan as at 31 December 2001 and 2000 and changes during the years ended on these
dates is presented below:
2001 2000
Weighted Weighted
Number of average Number of average
shares price shares price
NV shares of 0.51
Outstanding at 1 January 165 046 0.00 ––
Granted 256 662 0.00 165 046 0.00
Exercised (40 380) 0.00 ––
Forfeited/Expired ––––
Outstanding at 31 December 381 328 0.00 165 046 0.00
PLC shares of 1.4p
Outstanding at 1 January 1 220 226 £0.00 ––
Granted 1 894 148 £0.00 1 220 226 £0.00
Exercised (299 236) £0.00 ––
Forfeited/Expired ––––
Outstanding at 31 December 2 815 138 £0.00 1 220 226 £0.00
2001 2000
NV option value information (b)
Fair value per option 67.40 53.72
PLC option value information (b)
Fair value per option £5.73 £4.45
Actual compensation costs recognised (million) 6 2
(b) Weighted average of options granted during each period.
(vi) The North American Performance Share Plan
This long-term incentive plan for North American managers awards Unilever shares if company and personal performance targets are met
over a three-year period. It was introduced in 2001 to replace a former long-term incentive plan with cash awards rather than shares.
A summary of the status of the North American Performance Share Plan as at 31 December 2001 and changes during the year ended on
that date is presented below:
2001
Weighted
Number of average
shares price
NV New York shares of 0.51
Outstanding at 1 January ––
Granted 625 451 $0.00
Exercised ––
Forfeited/Expired ––
Outstanding at 31 December 625 451 $0.00
Exercisable at 31 December ––