Unilever 2004 Annual Report Download - page 148

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Unilever Annual Report and Accounts 2004 145
Notes to the consolidated accounts
Unilever Group
30 Share-based compensation plans (continued)
2004 2003 2002
NV share award value information
Fair value per share award(e) €41.81 €43.57 €26.94
PLC share award value information
Fair value per share award(e) £4.02 £4.63 £2.41
(e) Estimated using option pricing models taking account of peer group TSR volatilities and correlations.
The North American Performance Share Plan
This long-term incentive plan for North American managers, introduced in 2001, awards Unilever shares if company targets are met over a
three-year period.
A summary of the status of the North American Performance Share Plan as at 31 December 2004, 2003 and 2002 and changes during the
years ended on these dates is presented below:
2004 2003 2002
Weighted Weighted Weighted
Number of average Number of average Number of average
shares price shares price shares price
NV New York shares of €0.51
Outstanding at 1 January 1 771 343 $0.00 1 223 292 $0.00 625 451 $0.00
Awarded 543 479 $0.00 563 982 $0.00 639 396 $0.00
Exercised (600 707) $0.00 –– ––
Forfeited (24 039) $0.00 (15 931) $0.00 (41 555) $0.00
Outstanding at 31 December 1 690 076 $0.00 1 771 343 $0.00 1 223 292 $0.00
Exercisable at 31 December –– –– ––
PLC shares of 1.4p in the form of ADRs(d)
Outstanding at 1 January 13 202 916 $0.00 9 130 532 $0.00 4 665 064 $0.00
Awarded 4 057 444 $0.00 4 191 296 $0.00 4 769 348 $0.00
Exercised (4 482 896) $0.00 –– ––
Forfeited (157 956) $0.00 (118 912) $0.00 (303 880) $0.00
Outstanding at 31 December 12 619 508 $0.00 13 202 916 $0.00 9 130 532 $0.00
Exercisable at 31 December –– –– ––
(d) 1 ADR is equivalent to 4 PLC shares.
2004 2003 2002
NV share award value information(b)
Fair value per share award $65.98 $58.35 $59.00
PLC share award value information(b)
Fair value per share award $9.64 $9.14 $8.35
(b) Weighted average of share awards granted during each period.