DHL 2013 Annual Report Download - page 212

e absolute performance target is met if the closing price of
Deutsche Post shares is at least , ,  or   above the issue
price. e relative performance target is tied to the performance
of the shares in relation to the  Europe  Index ,
 . It is met if the share price equals the index
performance or if it outperforms the index by at least  .
A maximum of four out of every six  s can be “earned” via
the absolute performance target, and a maximum of two via the
relative performance target. If neither an absolute nor a relative
performance target is met by the end of the waiting period, the
 s attributable to the related tranche will expire without replace-
ment or compensation.
 Plan for executives
Since July , selected executives have received annual
tranches of  s under the . is allows them to receive a cash
payment within a dened period in the amount of the dierence
between the respective price of DeutschePost shares and the xed
issue price if demanding performance targets are met (see disclo-
sures on the  for members of the Board of Management).
All  s granted under the  and  tranches expired at
the end of the respective waiting periods, since the related perfor-
mance targets were not met. Aer the expiry of the waiting pe-
riod for the  tranche on  June , two-sixths of the  s
granted became exercisable. ey were eligible to be exercised
shortly before the end of the exercise period, as the share price per-
formed well and exceeded the issue price of .. e exercise
period for these  s terminated on  June . e waiting pe-
riod for the  tranche also ended on  June . Due to the
strong share price performance since the  s were issued in ,
most of these  s were exercised in .
More details on the   /  Plan tranches are shown
in the following table:
  /  Plan
2009
tranche
2010
tranche
2011
tranche
2012
tranche
2013
tranche
 s
Issue date 1 July 2009 1 July 2010 1 July 2011 1 July 2012 1 August 2013
Issue price  9.52 12.27 12.67 13.26 20.49
Waiting period expires 30 June 2013 30 June 2014 30 June 2015 30 June 2016 31 July 2017
e fair value of the  Plan and the   was deter-
mined using a stochastic simulation model. As a result, an expense
of  million was recognised for nancial year  (previous
year:  million).
See Note . for further disclosures on share-based pay-
ment for members of the Board of Management. A provision for
the   and the  Plan was recognised as at the balance
sheet date in the amount of  million (previous year:  mil-
lion), of which  million (previous year:  million) was attrib-
utable to the Board of Management.  million of the total provi-
sion (previous year:  million) related to rights exercisable at the
reporting date.
 Related party disclosures
. Related party disclosures (companies and Federal Republic
of Germany)
All companies classied as related parties that are controlled
by the Group or on which the Group can exercise signicant in-
uence are recorded in the list of shareholdings, which can be
accessed on the website, www.dpdhl.com/en/investors.html, together
with information on the equity interest held, their equity and their
net prot or loss for the period, broken down by geographical areas.
Deutsche Post  maintains a variety of relationships with
the Federal Republic of Germany and other companies controlled
by the Federal Republic of Germany.
e federal government is a customer of Deutsche Post 
and as such uses the company’s services. Deutsche Post  has
direct business relationships with the individual public authorities
and other government agencies as independent individual custom-
ers. e services provided for these customers are insignicant in
respect of Deutsche Post ’s overall revenue.
   
KfW supports the federal government in continuing to
privatise companies such as Deutsche Post  or Deutsche Telekom
. In , KfW, together with the federal government, developed
a “placeholder model” as a tool to privat ise government-owned
companies. Under this model, the federal govern ment sells all or
part of its investments to KfW with the aim of fully privatising
these state-owned companies. On this basis, KfW has purchased
shares of Deutsche Post  from the federal government in several
stages since  and executed various capital market transactions
using these shares. KfW’s current interest in Deutsche Post ’s
share capital is  . Deutsche Post  is thus considered to be an
associate of the federal government.
208 Deutsche Post DHL 2013 Annual Report
Notes
Other disclosures
Consolidated Financial Statements