Loreal 2011 Annual Report Download - page 58

56 REGISTRATION DOCUMENT − L’ORÉAL 2011
2Corporate governance
Remuneration of the members oftheBoard ofDirectors andthecorporate of cers
2.3.3. Stock options granted to the executive officers
♦The stock options granted in2011 to the executive officers are as follows:
Date
of grant
Nature of
options
Valuation of
the options(1)
Number of options
granted
Exercise
price
Exercise
period
Mr.Jean- Paul Agon April22nd, 2011 Subscription 3,716,000 200,000(2) €83.19 April23rd,
2016
to April22nd,
2021 inclusive
Sir Lindsay Owen-Jones None None None None None None
(1) Fair value estimated under IFRS for the preparation of the Company’s consolidated financial statements .
(2) The Board of Directors on April22nd, 2011 allocated 400,000 stock options to Mr.Jean-Paul Agon. Mr.Jean-Paul Agon waived at 200,000 of these stock
options. He therefore benefits from 200,000 stock options under the Plan decided by the Board of Directors on April22nd, 2011.
The Board of Directors decided, within the scope of the Plan
of April22nd, 2011, to reapply the retention rule in force for the
Plans of November30th, 2007 and April27th, 2010: Mr.Jean-
PaulAgon, as a corporate officer, will retain a number of shares
corresponding to 50% of the “balance of the shares resulting
from the exercise of the stock options”, in registered form, until
the termination of his duties as Chairman and Chief Executive
Officer of L’Oréal.
The “balance of the shares resulting from the exercise of the
stock options” should be understood to mean the total number
of shares resulting from the exercise of stock options minus the
number of shares that have to be sold to finance the exercise
of the stock options in question and, where applicable, the
payment of any immediate or deferred taxes, social levies
and costs relating to the exercise of these stock options as
applicable at the date of exercise of the options.
If the number of shares thus determined that must be retained
until the termination of Mr.Jean-Paul Agon’s duties as Chairman
and Chief Executive Officer is not a whole number of shares, this
number of shares would be rounded down to the nearest lower
whole number of shares.
In2011, the Chairman and Chief Executive Officer only received
stock-options.
The executive officers who received stock options to purchase
and/or subscribe for shares have undertaken not to hedge
their risks.
♦The stock options granted to the executive officers which can still be exercised are as follows:
The stock options granted by the Board of Directors to Mr.Jean-Paul Agon since his appointment as a corporate officer, and which
can still be exercised are as follows:
Date of grant
Number of
options granted
Number of options
not yet exercised
1st possible date
of exercise Date of expiry
Subscription
price (in €)
12.01.2006 500,000 500,000 12.02.2011 12.01.2016 78.06 (S)
11.30.2007 350,000 350,000 12.01.2012 11.30.2017 91.66(S)
03.25.2009 - - - - -
04.27.2010 400,000 400,000 04.28.2015 04.27.2020 80.03(S)
04.22.2011(1) 200,000 200,000 04.23.2016 04.22.2021 83.19 (S)
(1) The Board of Directors on April22nd, 2011 allocated 400,000stock options to Mr.Jean-Paul Agon. Mr.Jean-Paul Agon waived at 200,000 of these stock
options. He therefore benefits from 200,000stock options under the Plan decided by the Board of Directors on April22nd, 2011.
The stock options that were granted by the Board of Directors to Sir Lindsay Owen-Jones in previous years, and which can still be
exercised are as follows:
Date of grant
Number of
options granted
Number of options
not yet exercised
1st possible date
of exercise Date of expiry
Purchase (A) or
subscription (S)
price (in €)
12.03.2003 500,000 500,000 12.04.2008 12.03.2013 63.02(S)
500,000 500,000 12.04.2008 12.03.2013 71.90(A)
03.24.2004 - - - - -
12.01.2004 1,000,000 1,000,000 12.02.2009 12.01.2014 55.54(S)
06.29.2005 - - - - -
11.30.2005 700,000 700,000 12.01.2010 11.30.2015 61.37(S)
300,000 300,000 12.01.2010 11.30.2015 62.94 (A)
04.25.2006 2,000,000 2,000,000 04.26.2011 04.25.2016 72.60 (S)