Vodafone 2011 Annual Report Download - page 111

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Vodafone Group Plc Annual Report 2011 109
Financials
Summary of options outstanding and exercisable at 31 March 2011
Outstanding Exercisable
Weighted Weighted
average average
Weighted remaining Weighted remaining
Outstanding average contractual Exercisable average contractual
shares exercise life shares exercise life
Millions price Months Millions price Months
Vodafone Group savings related and Sharesave Plan:
£0.01 – £1.00 12 £0.94 28 – – –
£1.01 – £2.00 8 £1.19 34 – – –
20 £1.03 31 – – –
Vodafone Group executive plans:
£1.01 – £2.00 3 £1.63 5 3 £1.63 5
Vodafone Group 1999 Long-Term Stock Incentive Plan:
£0.01 – £1.00 42 £0.90 15 42 £0.90 15
£1.01 – £2.00 106 £1.52 28 106 £1.52 28
148 £1.35 24 148 £1.35 24
Other share option plans:
£1.01 – greater than £3.01 – £2.47 11 – £2.47 11
Vodafone Group 1999 Long-Term Stock Incentive Plan:
$10.01 – $30.00 1 $14.82 18 1 $14.82 18
Fair value of options granted
Ordinary share options
2011 2010 2009
Expected life of option (years) 3-5 3-5 3-5
Expected share price volatility 27.5-27.6% 32.5-33.5% 30.9-31.0%
Dividend yield 5.82% 6.62% 5.04%
Risk free rates 1.3-2.2% 2.5-3.0% 4.9%
Exercise price £1.14 £0.94 £1.21
The fair value of options granted is estimated at the date of grant using a lattice-based option valuation model which incorporates ranges of assumptions
for inputs as disclosed above.
Share awards
Movements in non-vested shares during the year ended 31 March 2011 are as follows:
Global AllShare Plan
Other
Total
Weighted Weighted Weighted
average fair average fair average fair
value at value at value at
Millions grant date Millions grant date Millions grant date
1 April 2010 34 £1.15 340 £1.05 374 £1.06
Granted – – 126 £1.07 126 £1.07
Vested (15) £1.30 (66) £1.40 (81) £1.38
Forfeited (2) £1.08 (30) £0.97 (32) £0.97
31 March 2011 17 £1.02 370 £1.00 387 £1.00
Other information
The weighted average grant date fair value of options granted during the 2011 financial year was £0.27 (2010: £0.26; 2009: £0.39).
The total fair value of shares vested during the year ended 31 March 2011 was £113 million (2010: £100 million; 2009: £84 million).
The compensation cost included in the consolidated income statement in respect of share options and share plans was £156 million (2010: £150 million;
2009: £128 million) which is comprised entirely of equity-settled transactions.
The average share price for the year ended 31 March 2011 was 159.5 pence (2010: 132 pence).