Food Lion 2014 Annual Report Download - page 141

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DELHAIZE GROUP FINANCIAL STATEMENTS 2014 // 137
Non-U.S. Operating Entities Stock Options Plans
Until 2013, Delhaize Group granted stock options to vice presidents and above of its non-U.S. operating entities.
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
Effect
ive
Date of
Grants
Number of
shares
Underlying
Award
Issued
Number of shares
Underlying Awards
Outstanding at
December 31, 2014
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
258 158
€49.85
111
Jan. 1, 2017 -
May 29, 2020
2012 grant under the 2007
Stock option plan
November
2012
3
5 000
35 000
€26.39
1
Jan. 1, 2016 -
May 24, 2019
May 2012
362 047
361 236
€30.99
95
Jan. 1, 2016 -
May 24, 2019
2011 grant under the 2007
Stock option plan
June 2011
290 078
283 490
€54.11
83
Jan. 1, 2015 -
June 14, 2018
201
0 grant under the 2007
Stock option plan
June 2010
198 977
170 651
€66.29
80
Jan. 1, 2014
-
June 7, 2017
2009 grant under the 2007
Stock option plan
June 2009
230 876
102 411
€50.03
73
Jan. 1, 2013 -
June 8, 2016
2008 grant under the 2007
Stock option plan
May 2008
237 291
81 991
€49.25
318
Jan. 1, 2012 -
May 29, 2015
2007 grant under the 2007
Stock option plan
June 2007
185 474
157 041
€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.
Activities associated with non-U.S. stock option plans were as follows:
2014
Shares
Weighted Average Exercise
Price (in €)
Outstanding at beginning of year
1 778 028
49.25
Exercised
(225 643)
49.59
Forfeited
6 387
42.74
Outstanding at end of year
1 558 772
49.17
Options exercisable at end of year
795 584
5
9.20
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
Delhaize Group Annual Report 2014 • 139