DHL 2013 Annual Report Download - page 211

 Share-based payment
Assumptions regarding the price of Deutsche Post ’s
shares and assumptions regarding employee uctuation are taken
into account when measuring the value of share-based payments
for executives. All assumptions are reviewed on a quarterly basis.
e sta costs are recognised pro rata in prot or loss to reect
the services rendered as consideration during the vesting period
(lock-up period).
Share-based payment for executives (Share Matching Scheme)
Under the share-based payment system for executives (Share
Matching Scheme), certain executives receive part of their vari-
able remuneration for the nancial year in the form of shares of
Deutsche Post  in the following year (incentive shares); all Group
executives can specify an increased equity component individually
by converting a further portion of their variable remuneration for
the nancial year (investment shares). Aer a four-year lock-up
period during which the executive must be employed by the Group,
they again receive the same number of Deutsche Post  shares
(matching shares). Assumptions are made regarding the conver-
sion behaviour of executives with respect to their relevant bonus
portion. Share-based payment arrangements are entered into each
year, with  January of the respective year and  April of the follow-
ing year being the grant dates for each year’s tranche. Whereas in-
centive shares and matching shares are classied as equity-settled
share-based payments, investment shares are compound nan-
cial instruments and the liability and equity components must be
measured separately. However, in accordance with  ., only
the debt component is measured due to the provisions of the Share
Matching Scheme. e investment shares are therefore treated as
cash-settled share-based payments.
Share Matching Scheme
2009
tranche
2010
tranche
2011
tranche
2012
tranche
2013
tranche
Grant dates
1 Nov. 2009 /
1 April 2010
1 Jan. 2010 /
1 April 2011
1 Jan. 2011 /
1 April 2012
1 Jan. 2012 /
1 April 2013
1 Jan. 2013 /
1 April 2014
Term months 53 63 63 63 63
End of term March 2014 March 2015 March 2016 March 2017 March 2018
Share price at grant date (fair value)
Incentive shares and matching shares awarded for incentive shares  11.48 13.98 12.90 12.13 17.02
Matching shares awarded for investment shares  13.03 12.91 14.83 18.22 25.00 1
Number of incentive shares thousands 430 638 660 479 348 2
Number of matching shares expected
Incentive shares thousands 336 574 594 431 313
Investment shares thousands 259 932 940 709 556
1 Estimated provisional amount, will be determined on  April .
2 Expected number.
In the consolidated nancial statements as at  Decem-
ber ,  million (previous year:  million) was recognised
in equity for the granting of variable remuneration components;
Note .
Long-Term Incentive Plan   for members
of the Board of Management
Since  July , the members of the Board of Management
receive stock appreciation rights s under the  . Each
 under the   entitles the holder to receive a cash settle-
ment equal to the dierence between the average closing price of
Deutsche Post shares during the last ve trading days before the
exercise date and the issue price of the .
e members of the Board of Management each invest  
of their xed annual remuneration (annual base salary) as a per-
sonal nancial investment every year. e number of  s issued
to the members of the Board of Management is determined by
the Super visory Board. Following a four-year waiting period that
begins on the issue date, the  s granted can be fully or partly
exercised within a period of two years provided an absolute or
relative performance target is achieved at the end of the waiting
period. Any  s not exercised during this two-year period will
expire. To determine how many – if any – of the granted  s can
be exercised, the average share price or the average index is com-
pared for the reference period and the performance period. e
reference period comprises the last  consecutive trading days
before the issue date. e performance period is the last  trading
days before the end of the waiting period. e average (closing)
price is calculated as the average closing price of Deutsche Post
shares in Deutsche Börse ’s Xetra trading system.
207Deutsche Post DHL 2013 Annual Report
Notes
Other disclosures
Consolidated Financial Statements