Atari 2009 Annual Report Download - page 42

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ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
42
STOCK OPTION PLANS
Under each of the plans, the exercise price set by the Board of Directors on the date options are granted carries no
discount to the price of shares. It corresponds to the shares‟ average price over the twenty trading days immediately
preceding the date of the Board of Directors‟ meeting. Options expire eight years from their grant date and can generally
be exercised only after a vesting period of one to four years from their grant date. In France, beneficiaries of stock
options must hold on to the shares for which they are exercised until four years after the grant date.
RESTRICTIONS ON THE SALE OF SHARES BY OFFICERS AND DIRECTORS
In accordance with applicable regulations, the Board of Directors has adopted rules restricting the sale of shares
acquired during fiscal year 2007-2008 by the Chief Executive Officer and the Chief Operating Officer under stock option
plans and by Michel Combes under conditional free share grants. In fiscal year 2008-2009, no corporate officers were
granted new stock option plans by the Company.
The beneficiaries of grants are required to keep at least 15% of the shares resulting from the exercise of options or
grants of free shares, in registered form, for the entire term of their appointment.
SUMMARY OF THE PRINCIPAL FEATURES OF STOCK OPTIONS GRANTED
As of March 31, 2009, the aggregate number of shares for which existing options could be exercised represented
23.66% of the Company‟s shares outstanding on that date. The contingent stock options and stock options partly subject
to conditions granted during the fiscal year would be exercisable for up to 316,754 new shares (exclusive of future
adjustments), or approximately 0.2% of the Company‟s shares outstanding as of March 31, 2009.
The principal features of all stock options granted by Infogrames Entertainment/Atari and still outstanding are
summarized in the table below. No other options exercisable for shares of Atari have been granted by other Group
companies.