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58 Unilever Annual Report and Accounts 2006
Report of the Directors (continued)
Report of the Remuneration Committee (continued)
Executive Directors’ share options
Details of the option plans under which Executive Directors and employees are able to acquire ordinary shares of NV and PLC are
shown in note 29 on pages 117 to 121.
Options to acquire NV ordinary shares of €0.16 each and options to acquire PLC ordinary shares of 31⁄9peach were granted, exercised,
lapsed and held during 2006 as follows:
Options outstanding Options outstanding
below market price above market price
at 31 December 2006 at 31 December 2006
Number
Balance of Number of options Balance of Weighted Weighted
options at of options exercised/ options at average average First Final
Share 1 January granted lapsed 31 December Number exercise Number exercise exercisable expiry
type 2006(a) in 2006 in 2006 2006 of shares price of shares price date date
Patrick Cescau
Executive Plan NV 269 166 – – 269 166 135 237 €17.66 133 929 €22.08 08/05/01 08/11/15
Executive Plan PLC 272 967 – – 272 967 245 967 1 175p 27 000 1 483p 08/05/01 08/11/15
NL All-Employee Plan NV 750 150(b) (150)(c) 750 600 €17.53 150 €22.63 12/06/02 17/05/11
UK ShareSave Plan PLC – 1 374(d) –1374 1 374 1 171p – – 01/10/11 31/03/12
Kees van der Graaf
Executive Plan NV 135 450 – – 135 450 83 250 €18.30 52 200 €21.94 24/03/02 08/11/15
Executive Plan PLC 135 450 – – 135 450 135 450 1 203p – – 24/03/02 08/11/15
NL All-Employee Plan NV 750 150(b) (150)(c) 750 600 €17.53 150 €22.63 12/06/02 17/05/11
UK ShareSave Plan PLC 1 374 – – 1 374 1 374 1 202p – – 01/10/10 31/03/11
Ralph Kugler
Executive Plan NV 176 625 – – 176 625 120 600 €18.19 56 025 €22.04 24/03/02 20/03/15
Executive Plan PLC 176 625 – – 176 625 176 625 1 163p – – 24/03/02 20/03/15
NL All-Employee Plan NV 150 150(b) – 300 300 €17.59 – – 18/05/05 17/05/11
UK ShareSave Plan PLC 1 374 – – 1 374 1 374 1 202p – – 01/10/10 31/03/11
Rudy Markham
Executive Plan NV 264 150 – (27 000)(e) 237 150 130 500 €17.60 106 650 €22.21 08/05/01 20/03/15
Executive Plan PLC 278 682 – (41 532)(f)(g)237 150 203 400 1167p 33 750 1483p 08/05/01 20/03/15
NL All-Employee Plan NV 750 150(b) (150)(c) 750 600 €17.53 150 €22.63 12/06/02 17/05/11
UK ShareSave Plan PLC 1 373 – – 1 373 1 373 1 190p – – 01/10/09 31/03/10
(a) The number of shares and the shareprices have been converted following the sharesplit and share consolidation which took place on
22 May 2006.
(b) Grants made under the Dutch All-Employee Option Plan on 18 May 2006 at an option price of €17.50.
(c) Options lapsed without value on 30 May 2006.
(d) Grants made under the UK All-Employee ShareSave Plan on 3 July 2006 at an option price of 1 171p.
(e) Options exercised on 1 December 2006 at a market price of €19.97. The options had originally been granted on 2 June 1997 at a price
(after taking into account the sharesplit in May 2006) of €14.26.
(f) Options in respect of 14 532 shares exercised on 2 June 2006 at a market price of 1 188p. The options had originally been granted on
6December 1996 at a price (after taking into account the share consolidation in May 2006) of 762p.
(g) Options in respect of 27 000 shares exercised on 1 December 2006 at a market price of 1 363p. The options had originally been granted
on 2 June 1997 at a price (after taking into account the share consolidation in May 2006) of 904p.
The value, calculated in accordance with an adjusted Black-Scholes pricing method in respect of options granted in 2006 to the current
Executive Directors was as follows: Patrick Cescau €6 155; Kees van der Graaf €432; Ralph Kugler €432; and Rudy Markham €432.
The term ‘Executive Plan’ refers to options granted under the PLC or NV Executive Option Plans.
The closing market prices of ordinary shares at 31 December 2006 were €20.70 (NV shares) and 1 428p (PLC shares). During 2006 the highest
market prices were €20.84 and 1 428p respectively, and the lowest market prices were €16.53 and 1 125p respectively.
Antony Burgmans changed from Executive to Non-Executive Director at the 2005 AGMs and assumed his new role of Non-Executive Chairman.
In his capacity as an Executive Director Antony Burgmans was granted share options under the Executive Plan and the Dutch All-Employee Plan.
Below are details of his outstanding options under the Option plans:
Number
Balance of Number of options Balance of Balance Weighted Balance Weighted
options at of options exercised/ options at below average above average First Final
Share 1 January granted lapsed 31 December market exercise market exercise exercisable expiry
Plan type 2006 in 2006 in 2006 2006 price price price price date date
Executive Option NV 316 800 – – 316 800 203 400 €17.61 113 400 €21.78 24/03/02 13/02/09
Executive Option PLC 316 800 – – 316 800 316 800 1 163p – – 24/03/02 13/02/09
NL All-Employee Plan 600 – (150)(a) 450 300 €17.47 150 €22.63 12/06/02 12/05/09
(a) Options lapsed without value on 30 May 2006.
In his capacity as a Non-Executive Chairman, Antony Burgmans does not participate in any share-based remuneration.