HSBC 2005 Annual Report Download - page 198

HSBC HOLDINGS PLC
Report of the Directors (continued)
196
HSBC Private Bank France
shares of €2
Date of
award
Exercise
price (€)
Exercisable
from
Exercisable
until
Options at
1 January
2005
Options
exercised
during year1
Options
lapsed
during year
Options at
31 December
20051
21 Dec 1999 10.84 21 Dec 2000 21 Dec 2009 170,500 79,350 – 91,150
9 Mar 2000 12.44 27 Jun 2004 31 Dec 2010 149,460 67,300 – 82,160
15 May 2001 20.80 15 May 2002 15 May 2011 254,025 24,750 – 229,275
7 Sep 2001 15.475 7 Sep 2005 7 Oct 2007 331,500 302,000 29,500 –
1 Oct 2002 22.22 2 Oct 2005 1 Oct 2012 225,450 – 30,375 195,075
1Following exercise of the options, the HSBC Private Bank France shares will be exchanged for HSBC Holdings ordinary shares in the
ratio of 1.83 HSBC Holdings ordinary shares for each HSBC Private Bank France share. At 31 December 2005, The CCF Employee
Benefit Trust 2001 held 1,452,775 HSBC Holdings ordinary shares which may be exchanged for HSBC Private Bank France shares
arising from the exercise of these options.
Netvalor
shares of €415
Date of
award
Exercise
price (€)
Exercisable
from
Exercisable
until
Options at
1 January
2005
Options
exercised
during year
Options
lapsed
during year1
Options at
31 December
2005
22 Dec 1999 415 22 Dec 2004 22 Dec 2006 2,410 – 2,410 –
19 Dec 2000 415 19 Dec 2005 19 Dec 2007 3,270 – 3,270 –
1Netvalor was sold by HSBC France on 2 August 2005 and all outstanding options lapsed at that date.
Sinopia Asset Management
shares of €0.50
Date of
award
Exercise
price (€)
Exercisable
from
Exercisable
until
Options at
1 January
2005
Options
exercised
during year¹
Options
Lapsed
during year
Options at
31 December
2005
15 Oct 1999 18.80 15 Oct 2004 15 Apr 2005 30,000 30,000 – –
18 Feb 2000 18.66 18 Feb 2005 18 Aug 2005 95,500 95,500 – –
1Following exercise of the options, the Sinopia shares were exchanged for HSBC Holdings ordinary shares in the ratio of 2.143 HSBC
Holdings ordinary shares for each Sinopia share, such shares being delivered from The CCF Employee Benefit Trust 2001.
HSBC UBP
shares of €16
Date of
award
Exercise
price (€)
Exercisable
from
Exercisable
until
Options at
1 January
2005
Options
exercised
during year
Options
lapsed
during year
Options at
31 December
2005
12 Jul 2000 47.81 12 Jul 2005 12 Jan 2006 22,400 22,400 – –
HSBC Finance and subsidiary company
plans
Following the acquisition of HSBC Finance in 2003,
all outstanding options and equity-based awards over
HSBC Finance common shares were converted into
rights to receive HSBC Holdings ordinary shares in
the same ratio as the share exchange offer for the
acquisition of HSBC Finance (2.675 HSBC
Holdings ordinary shares for each HSBC Finance
common share) and the exercise prices per share
were adjusted accordingly. No further options will
be granted under any of these plans.
All outstanding options and other equity-based
awards over HSBC Finance common shares granted
before 14 November 2002, being the date the
transaction was announced, vested on completion of
the acquisition. Options and equity-based awards
granted on or after 14 November 2002 will be
exercisable on their original terms, save that they
have been adjusted to reflect the exchange ratio.
At 31 December 2005, the HSBC (Household)
Employee Benefit Trust 2003 held 3,006,623 HSBC
Holdings ordinary shares and 2,198,829 American
Depositary Shares (‘ADSs’), each of which
represents five HSBC Holdings ordinary shares,
which may be used to satisfy the exercise of
employee share options.