Ubisoft 2006 Annual Report Download - page 86

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UBISOFT • FINANCIAL REPORT 2007
Stock options
The capital increases and issue premiums during the past fiscal year were partly driven by the exercise of stock options. The
exercise conditions of the stock option plans are as follows:
The average price of options exercised during the period
was €7.61.
The impact of share-based payments on the accounts was
as follows:
The assumptions used for the calculation of the fair value
of the options are as follows:
- volatility rate: 30%
- dividend rate: 0%
- turnover rate of beneficiaries: 3%
- risk-free interest rate: yield rate of zero-coupon bonds
with five- or ten-year maturit, based on the plan maturity.
Own shares
As of March 31, 2007, the company held 22,059 of its own
shares. These shares are valued at an average price of
€36.06 and were booked as a deduction from equity.
(1) Limitation of the exercise period approved by the Board of Directors on November 2, 2005 to ensure compliance with the maximum period allowed by US law.
(2) As a result of the 2-for-1 stock split on December 11, 2006, the total number of shares allotted and the number of options at April 1, 2006 doubled and the
price of the options was reduced by one-half.
03.31.07 03.31.06
Wages and social security costs 3,344 2,692
Stock options 3,318 2,662
Group Savings Plan - 30
USA Savings Plan 26 -
Equity 11,564 8,220
5th 6th 7th 8th 9th
Plan Plan Plan Plan Plan
Total number of share alloted (2) 641,852 89,210 778,130 706,362 18,440
Start date for exercising options 04.09.02 04.25.02 01.19.05 10.16.03 01.29.04
Expiration date for options 04.08.06 04.24.06 08.15.12 10.15.07 01.28.08
Options price (2) 17.26 € 17.26 € 6.41 € 4.60 € 5.13 €
Options on April 1, 2006 (2) 153,870 13,772 576,730 480,676 13,080
Options exercised during the fiscal year 100,950 12,000 400,875 275,657 2,800
Options cancelled during the fiscal year 52,920 1,772 - 16,130 -
Options not yet exercised at March 31, 2007 0 0 175,855 188,889 10,280
10th 11th 12th 13th
Plan Plan Plan Plan
Total number of share alloted (2) 143,592 776,300 992,100 1,355,892
Start date for exercising options 10.28.03 10.14.05 11.17.05 11.17.05 07.01.05 02.23.07
Expiration date for options 06.15.07 (1) 10.13.14 11.16.14 11.16.14 06.15.09 (1) 02.22.11
Options price (2) 4.60 € 7.75 € 7.36 € 7.74 € 6.78 € 15.82 €
(France) (Italy) (USA)
Options on April 1, 2006 (2) 52,618 666,684 939,558 1,355,892
Options exercised during the fiscal year 41,542 171,204 99,320 48,782
Options cancelled during the fiscal year 450 1,656 6,820 -
Options not yet exercised at March 31, 2007 10,626 493,824 833,418 1,307,110