Unilever 2005 Annual Report Download - page 140

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Financial Statements
Unilever Annual Report and Accounts 2005 137
Notes to the consolidated accounts
Unilever Group
31 Share-based compensation plans (continued)
(iii) Global Performance Share Plan
The GPSP was introduced in 2005. Under this plan, managers can be awarded conditional shares which will vest three years later at a level
between 0% and 150% (for middle management) or 200% (for higher executives) depending on Unilever’s achievement of set targets for
Underlying Sales Growth and Free Cash Flow over the three-year performance period. The amount to be paid by participants to obtain the shares
at vesting is zero.
A summary of the status of the GPSP as at 31 December 2005 and changes during the year is presented below:
2005
Number of
shares
NV shares of €0.51
Outstanding at 1 January –
Awarded 695 717
Vested –
Forfeited –
Outstanding at 31 December 695 717
Exercisable at 31 December –
PLC shares of 1.4p
Outstanding at 1 January –
Awarded 2 619 928
Vested –
Forfeited –
Outstanding at 31 December 2 619 928
Exercisable at 31 December –
NV New York shares of €0.51
Outstanding at 1 January –
Awarded 143 390
Vested –
Forfeited (208)
Outstanding at 31 December 143 182
Exercisable at 31 December –
PLC shares of 1.4p in the form of ADRs(f)
Outstanding at 1 January –
Awarded 166 620
Vested –
Forfeited –
Outstanding at 31 December 166 620
Exercisable at 31 December –
(f) 1 ADR is equivalent to 4 PLC shares.
2005
NV share award value information(h)
Fair value per share award(i)
NV/PLC Plan €53.01
North America Programme $66.99
PLC share award value information(h)
Fair value per share award(i)
NV/PLC Plan £5.39
North America Programme $9.97
(h) Weighted average of share awards granted during each period.
(i) Estimated on basis of par achievement of targets.