ING Direct 2002 Annual Report Download - page 91

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Annual Report 2002 · ING Group88
Corporate Governance
AS REPORTED PRO FORMA AS REPORTED PRO FORMA AS REPORTED PRO FORMA
2002 2001 2000
Net profit (in millions of euros) 4,500 4,386 4,577 4,427 11,984 11,834
Basic profit per share (in euros) 2.32 2.27 2.37 2.30 6.27 6.21
Diluted profit per share (in euros) 2.32 2.27 2.35 2.29 6.18 6.12
(1) The amounts in the pro forma columns reflect the figures if the fair value of the stock options at the time they were granted
were recognised in the profit and loss account.
PRO FORMA RESULT IF STOCK OPTIONS WERE RECOGNISED IN THE PROFIT AND LOSS ACCOUNT (1)
OPTIONS OUTSTANDING WEIGHTED AVERAGE EXERCISE PRICE
2002 2001 2000 2002 2001 2000
EXECUTIVE BOARD
Opening balance 1,474,800 1,399,680 1,431,342 27.54 23.34 19.55
Granted 210,000 300,000 300,000 29.40 35.30 28.66
Exercised 334,000 224,880 121,776 17.72 11.75 5.62
Transferred to
Employees (1) 209,886
Closing balance 1,350,800 1,474,800 1,399,680 30.26 27.54 23.34
EMPLOYEES
Opening balance 69,571,115 54,944,160 44,739,610 30.45 28.02 26.11
Granted 20,826,405 22,415,961 22,508,086 29.32 35.18 29.76
Exercised 3,028,910 3,687,126 9,461,758 20.44 25.30 23.20
Expired 2,747,826 4,101,880 3,051,664 30.51 28.38 26.53
Transferred from the
Executive Board (1) 209,886
Closing balance 84,620,784 69,571,115 54,944,160 30.53 30.45 28.02
(1)
The options of former members of the Executive Board are included in the movements in option rights of employees.
MOVEMENTS IN THE OPTION RIGHTS
The weighted average fair value of options
granted in 2002 was EUR 6.78 (2001: EUR 8.71;
2000: EUR 8.67).
2002 2001 2000
In-the-money 21,146,021 56,343,840
Out-of-the-money 85,971,584 49,899,894
OPTIONS IN-THE-MONEY AND OPTIONS OUT-OF-THE-MONEY
OPTIONS WEIGHTED OPTIONS
OUTSTANDING AVERAGE WEIGHTED EXERCISABLE WEIGHTED
RANGE OF AS AT REMAINING AVERAGE AS AT AVERAGE
EXERCISE PRICE 31 DECEMBER CONTRACTUAL EXERCISE 31 DECEMBER EXERCISE
IN EUROS 2002 LIFE PRICE 2002 PRICE
15.00 – 20.00 128,050 5.19 18.68 65,900 18.15
20.00 – 25.00 125,479 9.65 23.12 1,000 23.12
25.00 – 30.00 52,776,459 5.88 28.16 15,793,331 26.28
30.00 – 35.00 9,756,366 0.79 31.86 9,062,680 31.82
35.00 – 40.00 23,185,230 5.80 35.45 3,469,413 35.57
SUMMARY OF STOCK OPTIONS OUTSTANDING AND EXERCISABLE AS AT 31 DECEMBER 2002