Logitech 2015 Annual Report Download - page 113

Equity Compensation Plan Information
103 | – Proxy Statement
2015 Annual General Meeting Invitation, Proxy Statement
PSUs under the 2006 Stock Incentive Plan and has
made no grants of restricted shares or stock appreciation
rights. Stock options granted under the 2006 Stock
Incentive Plan generally will have terms not exceeding
ten years and will be issued at exercise prices not less
than the fair market value on the date of grant. Awards
under the 2006 Stock Incentive Plan may be conditioned
on continued employment, the passage of time, or the
satisfaction of performance vesting criteria. As of March
31, 2015, an aggregate of 24.8 million shares is reserved
for issuance under the 2006 Stock Incentive Plan. As
of March 31, 2015, a total of 9,095,315 shares were
available for issuance under this plan.
1996 Stock Plan
Under the 1996 Stock Plan, Logitech granted options
for shares. Options issued under the 1996 Stock Plan
generally vest over four years and remain outstanding for
periods not to exceed ten years. Options were granted at
exercise prices of at least 100% of the fair market value
of the shares on the date of grant. Logitech made no
grants of restricted shares, stock appreciation rights, or
stock units under the 1996 Stock Plan. No further awards
will be granted under the 1996 Stock Plan.
Each option issued under the 1996 Stock Plan entitles the
holder to purchase one share of Logitech International
S.A. at the exercise price.
Employee Share Purchase Plans
Logitech maintains two employee share purchase
plans, one for employees in the United States and one
for employees outside the United States. The plan for
employees outside the United States is named the 2006
Employee Share Purchase Plan (Non-U.S.), or 2006
ESPP, and was approved by the Board of Directors in
June 2006. The plan for employees in the United States
is named the 1996 Employee Share Purchase Plan
(U.S.), or 1996 ESPP. The 1996 ESPP was the worldwide
plan until the adoption of the 2006 ESPP in June 2006.
Under both plans, eligible employees may purchase
shares with up to 10% of their earnings at the lower of
85% of the fair market value at the beginning or the end
of each six-month offering period. Purchases under the
plans are limited to a fair value of $25,000 in any one
year, calculated in accordance with U.S. tax laws. During
each offering period, payroll deductions of employee
participants are accumulated under the share purchase
plan. Subject to continued participation in these plans,
purchase agreements are automatically executed at the
end of each offering period. A total of 29 million shares
have been reserved for issuance under both the 1996 and
2006 ESPPs. As of March 31, 2015, a total of 8,266,700
shares were available for issuance under these plans.
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