DHL 2015 Annual Report Download - page 207

Deutsche Post  Group —  Annual Report
Share Matching Scheme
2010 tranche 2011 tranche 2012 tranche 2013 tranche 2014 tranche 2015 tranche
Grant date of incentive shares and associated matching
shares 1 Jan. 2010 1 Jan. 2011 1 Jan. 2012 1 Jan. 2013 1 Jan. 2014 1 Dec. 2015
Grant date of matching shares awarded for investment shares 1 Apr. 2011 1 Apr. 2012 1 Apr. 2013 1 Apr. 2014 1 Apr. 2015 1 Apr. 2016
Term months 63 63 63 63 63 52
End of term March 2015 March 2016 March 2017 March 2018 March 2019 March 2020
Share price at grant date (fair value)
Incentive shares and associated matching shares  13.98 12.90 12.13 17.02 25.91 27.12
Matching shares awarded for investment shares  12.91 14.83 18.22 27.18 29.12 27.00 1
Number of deferred incentive shares thousands 638 660 479 337 332 274 2
Number of matching shares expected
Deferred incentive shares thousands n. a. 594 431 303 299 247
Investment shares thousands n. a. 940 709 567 596 463
Matching shares issued thousands 1,493
1 Estimated provisional amount, will be determined on  April .
2 Expected number.
e claims to the matching shares under the  tranche were
settled in April . In nancial year , the Group increased its
share capital for this purpose. In addition, treasury shares were pur-
chased to settle the  tranche. A total of . million treasury
shares were issued to the executives concerned to settle the two
tranches.
In the  consolidated nancial statements,  million (pre-
vious year:  million) was recognised in capital reserves for the
granting of variable remuneration components under this system,
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 settlement
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 personal
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 per-
formance target is achieved at the end of the waiting period. Any
 s not exercised during this two-year period will expire. To de-
termine how many – if any – of the granted  s can be exercised,
the average share price or the average index is compared 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.
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 per-
formance 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 per-
formance target is met by the end of the waiting period, the  s
attributable to the related tranche will expire without replacement
or compensation.
 
2010 tranche 2011 tranche 2012 tranche 2013 tranche 2014 tranche 2015 tranche s
Issue date 1 July 2010 1 July 2011 1 July 2012 1 Aug. 2013 1 Sept. 2014 1 Sept. 2015
Issue price  12.27 12.67 13.26 20.49 24.14 25.89
Waiting period expires 30 June 2014 30 June 2015 30 June 2016 31 July 2017 31 Aug. 2018 31 Aug. 2019
Further disclosures on share-based payment for members of the
Board of Management can be found in Note ..
197
Consolidated Financial Statements — NOTES — Other disclosures