Unilever 2002 Annual Report Download - page 108

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Financial Statements
Notes to the consolidated accounts 105
Unilever Group
Unilever Annual Report & Accounts and Form 20-F 2002
29 Equity-based compensation plans continued
A summary of the status of the All-Employee Plans as at 31 December 2002, 2001 and 2000 and changes during the years ended on these
dates is presented below:
2002 2001 2000
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 3 109 260 60.56 1 634 437 54.41 690 838 54.38
Granted 1 589 107 67.90 1 853 007 64.65 1 204 863 53.05
Exercised (322 625) 58.72 (225 614) 51.85 (125 707) 40.72
Forfeited/Expired (a) (349 312) 63.24 (152 570) 57.10 (135 557) 54.94
Outstanding at 31 December 4 026 430 63.38 3 109 260 60.56 1 634 437 54.41
Exercisable at 31 December 231 979 67.90 42 412 42.99 94 861 37.58
PLC shares of 1.4p
Outstanding at 1 January 22 002 314 £4.61 26 512 577 £4.14 30 777 318 £4.00
Granted 4 122 000 £6.06 4 411 833 £5.29 7 960 043 £4.25
Exercised (5 771 480) £3.78 (5 756 768) £2.94 (5 717 614) £2.74
Forfeited/Expired (a) (2 347 242) £4.90 (3 165 328) £4.62 (6 507 170) £4.84
Outstanding at 31 December 18 005 592 £5.17 22 002 314 £4.61 26 512 577 £4.14
Exercisable at 31 December 430 696 £3.71 250 760 £2.78 192 156 £2.68
NV New York shares of 0.51
Outstanding at 1 January ––470 680 $52.43 633 913 $52.43
Granted 149 431 $54.11 ––––
Exercised ––(255 208) $52.43 – –
Forfeited/Expired (a) ––(215 472) $52.43 (163 233) $52.43
Outstanding at 31 December 149 431 $54.11 ––470 680 $52.43
Exercisable at 31 December ––––––
(a) The number of expired options is immaterial.
2002 2001 2000
NV option value information (b)
Fair value per option (c) 14.66 15.13 10.18
Valuation assumptions
Expected option term 3.8 years 3.5 years 4.0 years
Expected volatility 26.8% 29.3% 28.6%
Expected dividend yield 2.4% 2.2% 4.5%
Risk-free interest rate 4.5% 4.5% 4.9%
PLC option value information (b)
Fair value per option (c) £1.57 £1.31 £1.05
Valuation assumptions
Expected option term 4.7 years 4.7 years 5.0 years
Expected volatility 28.5% 28.1% 25.6%
Expected dividend yield 2.5% 2.8% 3.3%
Risk-free interest rate 5.2% 5.4% 5.7%
NV New York shares option value information (b)
Fair value per option (c) $8.57 ––
Valuation assumptions
Expected option term 1 year ––
Expected volatility 25.2% ––
Expected dividend yield 2.5% ––
Risk-free interest rate 1.2% ––
Actual compensation costs recognised (million) 2 44
(b) Weighted average of options granted during each period.
(c) Estimated using Black Scholes option pricing method.