HSBC 2008 Annual Report Download - page 311

309
HSBC France
Shares of €5
Date of
award
Exercise
price (€)
Exercisable
from
Exercisable
until
Options at
1 January
2008
Options
exercised
during year1
Options
lapsed
during year
Options at
31 December
20081
29 Apr 1998 73.48 7 Jun 2000 29 Apr 2008 100,379 100,379 – –
7 Apr 1999 81.71 7 Jun 2000 7 Apr 2009 304,402 120,775 – 183,627
12 Apr 2000 142.50 1 Jan 2002 12 Apr 2010 604,250 – – 604,250
1 Following exercise of the options, the HSBC France shares will be exchanged for HSBC Holdings ordinary shares in the same ratio as
for the acquisition of HSBC France (13 HSBC Holdings ordinary shares for each HSBC France share). At 31 December 2008, The
HSBC Holdings Employee Benefit Trust 2001 (No. 1) held 8,790,276 HSBC Holdings ordinary shares which may be exchanged for
HSBC France shares arising from the exercise of these options.
HSBC Private Bank France
Shares of €2
Date of
award
Exercise
price (€)
Exercisable
from
Exercisable
until
Options at
1 January
2008
Options
exercised
during year1
Options
lapsed
during year
Options at
31 December
20081
21 Dec 1999 10.84 21 Dec 2000 21 Dec 2009 33,250 7,000 – 26,250
10 Mar 2000 12.44 27 Jun 2004 31 Dec 2010 20,626 – – 20,626
15 May 2001 20.80 15 May 2002 15 May 2011 141,525 – – 141,525
1 Oct 2002 22.22 2 Oct 2005 1 Oct 2012 145,575 – – 145,575
1 Following 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 2008, The CCF Employee
Benefit Trust 2001 held 943,142 HSBC Holdings ordinary shares which may be exchanged for HSBC Private Bank France shares
arising from the exercise of these options.
HSBC Finance and its subsidiaries
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 are
exercisable on their original terms, save that they
have been adjusted to reflect the exchange ratio.
The following are details of options and equity-
based awards to acquire shares in HSBC Holdings.
At 31 December 2008, the HSBC (Household)
Employee Benefit Trust 2003 held 1,687,279 HSBC
Holdings ordinary shares and 196,455 American
Depositary Shares, each of which represents five
HSBC Holdings ordinary shares, which may be used
to satisfy the exercise of employee share options.
HSBC Finance: 1996 Long-Term Executive Incentive Compensation Plan
HSBC Holdings ordinary shares of US$0.50
Date of
award
Exercise
price (US$)
Exercisable
from
Exercisable
until
Options at
1 January
2008
Options
exercised
during year1
Options
lapsed
during year
Options at
31 December
2008
1 Jul 1998 19.21 1 Jul 1999 1 Jul 2008 80,250 – 80,250 –
9 Nov 1998 13.71 9 Nov 1999 9 Nov 2008 841,566 245,375 596,191 –
17 May 1999 16.99 17 May 2000 17 May 2009 334,375 – – 334,375
31 Aug 1999 13.96 31 Aug 2000 31 Aug 2009 300,938 – – 300,938
8 Nov 1999 16.96 8 Nov 2000 8 Nov 2009 4,250,577 – – 4,250,577
30 Jun 2000 15.70 30 Jun 2001 30 Jun 2010 26,846 – – 26,846
8 Feb 2000 13.26 8 Feb 2001 8 Feb 2010 66,875 – – 66,875
13 Nov 2000 18.40 13 Nov 2001 13 Nov 2010 5,728,514 – – 5,728,514
12 Nov 2001 21.37 12 Nov 2002 12 Nov 2011 7,571,322 – – 7,571,322
20 Nov 2002 10.66 20 Nov 2003 20 Nov 2012 2,454,298 12,038 40,125 2,402,135
1 The weighted average closing price of the shares immediately before the dates on which options were exercised was £8.34.