ICICI Bank 2014 Annual Report Download - page 171
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F83
forming part of the Consolidated Accounts (Contd.)
schedules
ICICI Life:
ICICI Prudential Life Insurance Company has formulated ESOS for their employees.
For ICICI Prudential Life Insurance Company there is no compensation cost for the year ended March 31, 2014 based on
the intrinsic value of options. If the entity had used the fair value approach for accounting of options, based on the binomial
tree model, compensation cost for the year ended March 31, 2014 would have been higher by Nil (March 31, 2013: ` 2.4
million).
The following table sets forth, for the periods indicated, a summary of the status of the stock option plan of ICICI
Prudential Life Insurance Company.
`, except number of options
Stock options outstanding
Year ended March 31, 2014 Year ended March 31, 2013
Particulars
Number of
shares
Weighted
Average
Exercise Price
Number of
shares
Weighted
Average
Exercise Price
Outstanding at the beginning of the year ...................... 12,287,604 210.60 12,778,898 211.43
Add: Granted during the year ......................................... — — — —
Less: Forfeited/lapsed during the year ........................... 2,087,905 264.45 401,169 275.60
Less: Exercised during the year ..................................... 330,501 69.30 90,125 70.00
Outstanding at the end of the year ................................. 9,869,198 203.81 12,287,604 210.60
Options exercisable ......................................................... 9,869,198 203.81 12,287,604 210.60
The following table sets forth, summary of stock options outstanding of ICICI Prudential Life Insurance Company at
March 31, 2014.
Range of exercise price
(` per share)
Number of shares
arising out of
options
(Number of shares)
Weighted average
exercise price
(` per share)
Weighted average
remaining
contractual life
(Number of years)
30-400 9,869,198 203.81 3.0
ICICI General:
ICICI Lombard General Insurance Company has formulated ESOS for their employees. There is no compensation cost
for the year ended March 31, 2014 based on the intrinsic value of options. If the entity had used the fair value approach
for accounting of options, based on the binomial tree model, compensation cost for the year ended March 31, 2014
would have been higher by ` 20.6 million (March 31, 2013: ` 7.5 million).