DHL 2005 Annual Report Download - page 119

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Information on the individual tranches is presented in the following
tables:
Stock options
SOP 2000 SOP 2003
Tranche 2001 Tranche 2002 Tranche 2003 Tranche 2004 Tranche 2005
Grant date March 15, 2001 July 1, 2002 August 1, 2003 July 1, 2004 July 1, 2005
Stock options granted 5,537,484 10,306,038 13,049,592 9,328,296 10,062,672
Stock Appreciation Rights (SARs) granted 345,432 446,934 731,736 1,116,374 1,216,320
Issue price €23.05 €14.10 €12.40 €17.00 €19.33
Lock-up expires March 14, 2004 June 30, 2005 July 31, 2006 June 30, 2007 June 30, 2008
Number
Outstanding stock options at beginning of year 695,182 7,797,066 12,282,948 9,078,846 0
Outstanding SARs at beginning of year 37,843 310,176 677,748 1,088,606 0
Options exercised 0 4,629,967 Not yet exercisable Not yet exercisable Not yet exercisable
SARs exercised 0 147,020 Not yet exercisable Not yet exercisable Not yet exercisable
Options lapsed 32,393 220,302 711,330 473,376 63,492
of which lapsed before end of the lock-up period 0 220,302 711,330 473,376 63,492
of which lapsed because performance targets not met 0 0 Still in lock-up period Still in lock-up period Still in lock-up period
of which lapsed after end of lock-up period 32,393 0 Still in lock-up period Still in lock-up period Still in lock-up period
SARs lapsed 10,803 14,598 99,978 408,288 25,056
of which lapsed before end of the lock-up period 0 14,598 99,978 408,288 25,056
of which lapsed because performance targets not met 0 0 Still in lock-up period Still in lock-up period Still in lock-up period
of which lapsed after end of lock-up period 10,803 0 Still in lock-up period Still in lock-up period Still in lock-up period
Outstanding options at end of year – – 11,571,618 8,605,470 9,999,180
Outstanding SARs at end of year – – 577,770 680,318 1,191,264
Options exercisable at end of year 662,789 2,946,797 Not yet exercisable Not yet exercisable Not yet exercisable
SARs exercisable at end of year 27,040 148,558 Not yet exercisable Not yet exercisable Not yet exercisable
Starting in scal year 2002, the stock option plan has been measured
using investment techniques by applying option pricing models (fair
value measurement). e expense of €40 million attributable to scal
year 2005 (previous year: €33 million), comprising €36 million for
the stock options (previous year: €31 million) and €4 million for the
SARs (previous year: €2 million), was reported under sta costs.
36 Other reserves
Other reserves 20041) 2005
€m
Capital reserves 408 1,893
Revaluation reserve in accordance with IAS 39 191 220
Hedging reserve in accordance with IAS 39 –133 –51
466 2,062
1) Prior-period amounts restated; see note 5.
Capital reserves
Capital reserves 2004 2005
€m
Capital reserves at January 1 377 408
Issue of shares – acquisition of Exel 0 1,389
Additions
of which exercise of stock options plans 0 60
of which issue of stock option plans 31 36
Capital reserves at December 31 408 1,893
Further information on the issue of shares relating to the acquisition
of Exel can be found in note 3.
e measurement of the 2000 and 2003 Stock Option Plans resulted
in sta costs for the stock options in the amount of €36 million in s-
cal year 2005 (previous year: €31 million); this amount was charged
to capital reserves. Further details of the stock option plans can be
found in note 35.
Deutsche Post World Net
115
Notes
Consolidated Financial StatementsAdditional Information