Ubisoft 2016 Annual Report Download - page 133

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Financial statements
5
Consolidated fi nancial statements asatMarch31, 2016
NOTE13 PAYMENTS BASED ON EQUITY INSTRUMENTS
Impact on the fi nancial statements:
EQUITY AT 03/31/15 99,426
Personnel costs 12,918
Stock options 1,574
Free share grants 10,197
Group savings scheme 1,147
EQUITY AT 03/31/16 112,344
The impact of these stock-based compensation payments on
reserves corresponds to all equity instruments issued by Ubisoft
as at March 31, 2016 (see section 5.1.4).
Stock options
The fair value of share subscription or purchase options, subject to
satisfaction of presence and performance requirements for corporate
offi cers and a presence requirement for employee benefi ciaries, is
estimated and fi xed at the grant date. The expense is recognized
over a four-year vesting period, but is not straight-line given the
vesting terms.
Subscription options
23rdplan 24thplan 25thplan
Total number of shares granted 3,123,939* 3,256,413* 936,970
Start of exercise period 06/30/11 04/27/12 10/19/13
Expiry date of options 06/29/15 04/26/16 10/18/17
Strike price of options €7.02 €6.32 €6.77 €6.77 €6.37 €6.65
France World France World France World
Maturity (in years) 555
Volatility 30% 30% 30%
Risk-free interest rate 1.54% 2.72% 0.35%
Estimated dividend rate 0% 0% 0%
Annual turnover rate 5% 5% 5%
Fair value of options after stock split (in €/share) €1.29 €1.13 €1.85 €1.31 €1.79 €1.28
France World France World France World
Options at April1, 2015 831,644 1,793,731 739,935
Options granted during the period - -
Options exercised during the period 827,062 1,411,870 184,329
Options cancelled during the period 4,582 11,972 5,375
Options outstanding at March31, 2016 - 369,889 550,231
* Subscription number and price adjusted following the issuance of share subscription warrants on April10, 2012
- Registration Document 2016 131