Airbus 2015 Annual Report Download - page 237

AIRBUS GROUP FINANCIAL STATEMENTS 2015 l 55 l
Notes to the IFRSConsolidatedFinancialStatements
2.
2.6 Employees Costs and Benefits
The following table summarises the development of the number of outstanding stock options:
Tranches Number of options
Balance at
1January Exercised Forfeited 31Balance at December
SOP 2005    
2014 2,449,997 (700,696) (20,16 0) 1,729,141
2015 1,729,141 (1,668,678) (60,463) 0
SOP 2006    
2014 706,125 (194,375) 0511,750
2015 511,750 (241,750) (5,500) 264,500
Total options for all tranches 2,240,891 (1,910,428) (65,963) 264,500
The weighted average share price at the date of exercise for share options exercised in 2015 was € 60.65 (2014: € 50.06).
The principal characteristics of the Performance and Restricted Units of the LTIPs as at 31December 2015 are summarised below:
LTIP 2010 LTIP 2011 LTIP 2012 LTIP 2013 LTIP 2014 LTIP 2015
Grant date 10November 2010 9November 2011 13December 2012 17December 2013(3) 13November 2014 29October 2015
Performance and Restricted Unit plan
Units
Performance Restricted Performance Restricted Performance Restricted Performance Restricted Performance Restricted Performance Restricted
Number
of units
granted(1) 2,891,540 977,78 0 2,606,900 880,225 2,119,16 0 621,980 1,241,020 359,760 1,110,230 291,420 926,416 239,604
Number
of units
outstanding 0 0 1,621,252 430,509 2,024,076 601,800 1,202,576 355,120 1,109,650 290,840 926,416 239,604
Total number
of eligible
beneficiaries 1,711 1,771 1,797 1,709 1,621 1,564
Vesting
conditions
The Performance and Restricted Units will vest if the participant is still employed by a Group company at the respective
vesting dates and, in the case of Performance Units, upon achievement of mid-term business performance.
Vesting schedule is made up of four payments (from the LTIP 2014 onwards two payments) over two years.
Share price
per unit is
limited at the
vesting dates
to(2)
- - € 55.66 € 92.34 € 94.90 € 112. 62
Vesting dates
25% each:
in May2014
in November2014
in May2015
in November2015
25% each:
in May2015
in November2015
25% each expected:
in May2016
in November2016
25% each expected:
in May2016
in November2016
in May2017
in November2017
25% each expected:
in May2017
in November2017
in May2018
in November2018
50% each expected:
in June2018
in June2019
50% each expected:
in June2019
in July2020
Number of
vested units 3,693,272 916,700 1,524,034 417,472 2,000 2,800 600 0 0 0 0 0
(1) Based on 100% target performance achievement. A minimum of 50% of Performance Units will vest; 100% in case of on-target performance achievement; up to a maximum
of 150% in case of overachievement of performance criteria. In case of absolute negative results (cumulative EBIT* of the Group) during the performance period, the Board of
Directors can decide to review the vesting of the Performance Units including the 50% portion which is not subject to performance conditions (additional vesting condition).
(2) Corresponds to 200% of the respective reference share price. Overall, the pay-out for Performance Units is limited to a total amount of 250% of the units originally granted, each
valued with the respective reference share price of € 27.83 (for LTIP 2012), € 46.17 (for LTIP 2013), € 47.45 (for LTIP 2014) and € 56.31 (for LTIP 2015).
(3) Date, when the vesting conditions were determined.
Financial Statements 2015
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Annual Report 2015 Financial Statements 2015
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