HSBC 2009 Annual Report Download - page 326

HSBC HOLDINGS PLC
Report of the Directors: Governance (continued)
Employees > Subsidiary company share plans
324
HSBC France
Shares of €5
Exercisable
Date of
award
Exercise
price (€)
from until
Options at
1 January
2009
Options
exercised
during year1
Options
lapsed
during year
Options at
31 December
20091
7 Apr 1999 81.71 7 Jun 2000 7 Apr 2009 183,627 – 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 ratio of
14.917916 HSBC Holdings ordinary shares for each HSBC France share. At 31 December 2009, The HSBC Holdings Employee Benefit
Trust 2001 (No. 1) held 9,963,718 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
Exercisable
Date of
award
Exercise
price (€)
from until
Options at
1 January
2009
Options
exercised
during year1
Options
lapsed
during year
Options at
31 December
20091
21 Dec 1999 10.84 21 Dec 2000 21 Dec 2009 26,250 17,250 9,000 –
10 Mar 2000 12.44 27 Jun 2004 31 Dec 2010 20,626 16,206 – 4,420
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 2.099984 HSBC Holdings ordinary shares for each HSBC Private Bank France share. At 31 December 2009, The CCF
Employee Benefit Trust 2001 held 998,783 HSBC Holdings ordinary shares which may be exchanged for HSBC Private Bank France
shares arising from the exercise of these options.
HSBC Finance
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 the 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 granted after 14 November
2002 are exercisable on their original terms, save
that they were adjusted to reflect the exchange ratio.
The following are details of options to acquire
shares in HSBC Holdings.
At 31 December 2009, the HSBC (Household)
Employee Benefit Trust 2003 held 2,642,279 HSBC
Holdings ordinary shares and 1,455 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$0.50
Exercise price (US$)
Exercisable
Date of award
At
1 Jan
2009
At
31 Dec
20091 from until
At
1 Jan
2009
Adjustment
for rights
issue
Exercised
during
year2
Lapsed
during
year
At
31 Dec
2009
17 May 1999 16.99 14.81 17 May 2000 17 May 2009 334,375 49,331 – 383,706 –
31 Aug 1999 13.96 12.17 31 Aug 2000 31 Aug 2009 300,938 44,397 – 345,335 –
8 Nov 1999 16.96 14.78 8 Nov 2000 8 Nov 2009 4,250,577 627,096 – 4,877,673 –
8 Feb 2000 13.26 11.56 8 Feb 2001 8 Feb 2010 66,875 9,866 – – 76,741
30 Jun 2000 15.70 13.68 30 Jun 2001 30 Jun 2010 26,846 3,959 – – 30,805
13 Nov 2000 18.40 16.03 13 Nov 2001 13 Nov 2010 5,728,514 845,109 – – 6,573,623
12 Nov 2001 21.37 18.62 12 Nov 2002 12 Nov 2011 7,571,322 1,116,966 – – 8,688,288
20 Nov 2002 10.66 9.29 20 Nov 2003 20 Nov 2012 2,402,135 354,367 20,000 – 2,736,502
1 Adjusted for rights issue.
2 The weighted average closing price of the shares immediately before the dates on which options were exercised was £7.172.