HSBC 2012 Annual Report Download - page 340

HSBC HOLDINGS PLC
Report of the Directors: Corporate Governance (continued)
Employees > Other required disclosures / 2013 AGM
338
HSBC France
HSBC France shares of €5
Exercisable At Exercised Lapsed At
Date of award
Exercise
price (€)
from to 1 Jan 20121 during year during year
31 Dec 20121
1 Oct 2002 .............. 142.84
2 Oct
2005
1 Oct
2012 22,645 – 22,645 –
1 If options over HSBC France Shares had been exercised, these options would have been exchanged for HSBC Holdings ordinary shares
in the ratio of 13.499897 HSBC Holdings ordinary shares for each HSBC France share. At 31 December 2012, The CCF Employee
Benefit Trust 2001 (Private Banking France) held 989,502 HSBC Holdings ordinary shares.
HSBC Finance
Upon the acquisition of HSBC Finance in 2003, all
outstanding options over, and rights to receive,
HSBC Finance common shares were converted into
options over, and 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). The exercise price
payable for each option was adjusted using the same
exchange ratio.
Details of options to acquire shares in HSBC
Holdings under the share plan of HSBC Finance are
set out in the following table. No further options will
be granted under this share plan.
HSBC Finance: 1996 Long-Term Executive Incentive Compensation Plan
HSBC Holdings ordinary shares
Date of award Exercise Exercisable At Exercised Lapsed At
price (US$) from to 1 Jan 2012 during year1 during year 31 Dec 20122
20 Nov 2002 ....... 9.29 20 Nov 2003 20 Nov 2012 2,429,538 2,053,838 375,700 –
1 The weighted average closing price of the shares immediately before the dates on which options were exercised was £6.06.
2 At 31 December 2012, the HSBC (Household) Employee Benefit Trust 2003 held 281,477 HSBC Holdings ordinary shares and 1,455
American Depositary Shares, each of which represents five HSBC Holdings ordinary shares.
HSBC Bank Bermuda
Upon the acquisition of HSBC Bank Bermuda
Limited (‘HSBC Bank Bermuda’) in 2004, all
outstanding options over HSBC Bank Bermuda
shares were converted into options to acquire HSBC
Holdings ordinary shares using an exchange ratio
calculated by dividing US$40 (being the
consideration paid for each HSBC Bank Bermuda
share) by the average price of HSBC Holdings
ordinary shares over the five day period to the
completion of the acquisition. The exercise price
payable for each option was adjusted using the same
exchange ratio.
Details of options to acquire shares in HSBC
Holdings under the share plans of HSBC Bank
Bermuda are set out in the following table. No
further options will be granted under the share plans
of HSBC Bank Bermuda.
HSBC Bank Bermuda
Exercise HSBC Holdings ordinary shares
Dates of awards price (US$) Exercisable At Exercised Lapsed At
from to from to from to 1 Jan 2012 during year during year 31 Dec 20121
Share Option Plan 2000
30 Jan
2002
21 Apr
2003 9.32 14.02
30 Jan
2003
21 Apr
2013
1,014,026 – 864,102 149,924
Directors’ Share Option Plan
3 Apr
2002
13.95
3 Apr
2003
3 Apr
2012
16,881 – 16,881 –
1 At 31 December 2012, the HSBC (Bank of Bermuda) Employee Benefit Trust 2004 held 2,108,830 HSBC Holdings ordinary shares
which may be used to satisfy the exercise of employee share options.