Logitech 2015 Annual Report Download - page 243

LOGITECH INTERNATIONAL S.A., APPLES
NOTES TO SWISS STATUTORY FINANCIAL STATEMENTS (Continued)
Note 8 — Movements in Retained Earnings:
During fiscal years 2015 and 2014, movements in retained earnings were as follows (in thousands):
Year ended March 31,
2015 2014
Retained earnings at the beginning of the year. . . . . . . . . . . . . . . CHF 458,537 CHF 354,602
Net release from reserve for treasury shares . . . . . . . . . . . . . . . . 29,508 67,584
Dividend Paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (43,102) (33,713)
Net income for the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,557 70,064
Retained earnings at the disposal of the Annual
General Assembly . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHF 449,500 CHF 458,537
Note 9 — Share Ownership of Board Members and Executive Officers:
The following tables set forth the shares and options held by each of the individual members of the
Board of Directors and executive officers as of March 31, 2015 and 2014:
As of March 31, 2015
Shares Held
Options,
PRSUs
and RSUs
Held(1) Exercise Price
Fiscal Years
of Expiration
Non-Group Management Team Members of
the Board of Directors:
Daniel Borel(2) . . . . . . . . . . . . . . . . . . . . . . . 9,614,038 11,000 n/a n/a
Matthew Bousquette . . . . . . . . . . . . . . . . . . 51,148 86,000 $15.41 - $23.29 2016 - 2019
Kee-Lock Chua . . . . . . . . . . . . . . . . . . . . . . 82,487 26,000 $19.43 2016
Sally Davis(3) . . . . . . . . . . . . . . . . . . . . . . . . 79,798 41,000 $35.42 2018
Guerrino De Luca(4) . . . . . . . . . . . . . . . . . . . 243,812 712,680 $7.83 - $27.95 2016 - 2023
Didier Hirsch(5) . . . . . . . . . . . . . . . . . . . . . . . 25,230 20,066 n/a n/a
Neil Hunt . . . . . . . . . . . . . . . . . . . . . . . . . . . 42,128 11,000 n/a n/a
Dimitri Panayotopoulos(6). . . . . . . . . . . . . . . — 11,000 n/a n/a
Monika Ribar(7) . . . . . . . . . . . . . . . . . . . . . . 60,540 26,000 $35.42 2018
Total Non-Group Management Team
Members of the Board of Directors:. . . . . . 10,199,181 944,746
Members of the Group Management Team
Bracken Darrell(8) . . . . . . . . . . . . . . . . . . . . . 114,513 2,489,850 $8.03-20.08 2023
Vincent Pilette . . . . . . . . . . . . . . . . . . . . . . . 286,950 337,086 n/a n/a
Marcel Stolk(9) . . . . . . . . . . . . . . . . . . . . . . . 37,474 434,395 $7.46 2023
L. Joseph Sullivan. . . . . . . . . . . . . . . . . . . . 61,768 618,975 $7.83 - $30.09 2016 - 2023
Total Group Management Team:. . . . . . . . . 500,705 3,880,306
(1) Each option provides the right to purchase one share at the exercise price. For executive officers
(including members of the Group Management Team and Mr. Guerrino De Luca), the options became
exercisable over four years in equal annual installments from the date of grant. For non-executive
Directors, the options became exercisable over three years in equal annual installments from the
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Annual Report Fiscal Year 2015