Ubisoft 2016 Annual Report Download - page 134
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Financial statements
5Consolidated fi nancial statements asatMarch31, 2016
26thplan 27thplan 28thplan 29thplan 30thplan 31stplan Total
Total number of shares granted 798,125 100,000 665,740 62,200 328,100 37,500
Start of exercise period 10/29/14 May2018 09/24/15 12/16/15 09/23/16 May2019
Expiry date of options 10/28/18 03/16/19 09/23/19 12/15/19 09/22/20 12/15/20
Strike price of options
€9.54 €8.83 €11.92 €12.92 €14.22 €17.94 €26.85
France World
Maturity (in years) 5 55555
Volatility 30% 30% 42% 42% 42% 42%
Risk-free interest rate 0.75% 0.50% 0.50% 0.15% 0.13% 0.13%
Estimated dividend rate 0% 0% 0% 0% 0% 0%
Annual turnover rate 5% 0% 5% 5% 5% 5%
Fair value of options
afterstocksplit(in €/share)
€1.98 €1.69 €2.90 €4.29 €4.62 €4.35 €8.73
France World
Options at April1, 2015 699,270 85,000 663,240 62,200 - 4,875,020
Options granted during the period - 328,100 37,500 365,600
Options exercised during the period 51,134 - 73,700 1,500 - - 2,549,595
Options cancelled during the period 7,750 - 23,625 - 3,000 - 56,304
Options outstanding at March31, 2016 640,386 85,000 565,915 60,700 325,100 37,500 2,634,721
The average price of options exercised during the period was €6.98.
Purchase options(1)
24thplan
Total number of shares granted(2) 421,705
Start of exercise period 04/27/12
Expiry date of options 04/26/16
Strike price of options(2) €6.77
Purchase options at April1, 2015(2) 322,989
Purchase options granted during the period -
Number of purchase options exercised during the period 209,165
Purchase options granted during the period 506
Purchase options outstanding at March31, 2016 113,318
(1) 417,000 subscription options (of the 3,220,748 options granted) changed into purchase options following a decision made by the Board of Directors on March9, 2012
(2) Subscription number and price adjusted following the issuance of share subscription warrants on April10, 2012
Free share grants settled in cash
In the fi rst half of the 2012/2013 fi nancial year, Ubisoft decided to give its employees free shares settled in cash, assessed in terms of
changes in the value of the share on Euronext Paris and contingent upon attendance and performance conditions.
Phantom plan
Grant date 07/02/12
Maturity– vesting period (in years) 3 years
Total number of shares granted 61,000
Total number of shares acquired 56,000
Fair value of shares at the acquisition date €16,225
Total expense over the vesting period €908,600
Expense recognized over the fi nancial year €53,446
- Registration Document 2016
132