Food Lion 2013 Annual Report Download - page 141

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Non-U.S. Operating Entities Stock Options Plans
In its non-U.S. operating entities, Delhaize Group grants stock options to vice presidents and above.
25% of the options granted under these plans vest immediately and the remaining options vest after a service period of
approximately 3½ years, the date at which all options become exercisable. Options expire seven years from the grant date.
Delhaize Group stock options granted to employees of non-U.S. operating companies were as follows:
Plan
Effective
Date of
Grants
Number of
shares
Underlying
Award
Issued
Number of shares
Underlying Awards
Outstanding at
December 31, 2013
Exercise
Price
Number of
Beneficiaries (at the
moment of
issuance)
Exercise
Period
2013 grant under the 2007
Stock option plan
December
2013
93 063 93 063 €41.71 1
Jan. 1, 2017 –
May 29, 2020
November
2013
15 731 15 731 €43.67 1
Jan. 1, 2017
–
May 29, 2020
May 2013 267 266 267 266 €49.85 111
Jan. 1, 2017
–
May 29, 2020
2012 grant under the 2007
Stock option plan
November
2012
35 000 35 000 €26.39 1 Jan. 1, 2016 –
May 24, 2019
May 2012 362 047 362 047 €30.99 95
Jan. 1, 2016
–
May 24, 2019
2011 grant under the 2007
Stock option plan
June 2011 290 078 266 755 €54.11 83 Jan. 1, 2015 -
June 14, 2018
2010 grant under the 2007
Stock option plan
June 2010 198 977 176 210 €66.29 80
Jan. 1, 2014 -
June 7, 2017
2009 grant under the 2007
Stock option plan
June 2009 230 876 196 242 €50.03 73
Jan. 1, 2013 -
June 8, 2016
2008 grant under the 2007
Stock option plan May 2008 237 291 206 866 €49.25 318
Jan. 1,
2012 - May 29,
2015
2007 grant under the 2007
Stock option plan June 2007 185 474 158 848 €71.84 619
Jan. 1,
2011 - June 7,
2017
(1)
_______________
(1) In 2009, Delhaize Group offered to the beneficiaries of the 2007 grant (under the 2007 stock option plan) the exceptional choice to extend the exercise period
from 7 to 10 years. This was accounted as a modification of the plan and the non-significant incremental fair value granted by this extension, measured in
accordance with IFRS 2, was accounted over the remaining vesting period. In accordance with Belgian law, most of the beneficiaries of the 2007 Stock option
plan agreed to extend the exercise period of their stock options for a term of three years. The very few beneficiaries who did not agree to extend the exercise
period of their stock options continue to be bound by the initial expiration date of the exercise period of the plan, i.e., June 7, 2014.
Activity associated with non-U.S. stock option plans was as follows:
2013 Shares
Weighted Average Exercise
Price (in €)
Outstanding at beginning of year
1 606 255
49.95
Granted
376 060
47.58
Exercised
(11 166)
49.56
Forfeited
(58 753)
57.02
Expired
(134 368)
49.55
Outstanding at end of year
1 778 028
49.25
Options exercisable at end of year
738 166
58.39
2012 Shares
Weighted Average Exercise
Price (in €)
Outstanding at beginning of year
1 379 150
55.71
Granted
397 047
30.58
Exercised
—
—
Forfeited
(16 463)
55.73
Expired
(153 479)
50.97
Outstanding at end of year
1 606 255
49.95
Options exercisable at end of year
742 612
54.61
DELHAIZE GROUP ANNUAL REPORT 2013 FINANCIAL STATEMENTS
139