Ubisoft 2016 Annual Report Download - page 135

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Financial statements
5
Consolidated fi nancial statements asatMarch31, 2016
Free share grants settled in shares
Free share grants, which are subject to performance conditions, are
locked in for a two, three, or four year period following the grant date.
As the shares granted are ordinary shares in the same category as
the old shares that comprise the Company’s share capital, employee
shareholders receive dividends and voting rights on all their shares
at the end of the vesting period.
The employee benefi t expense corresponds to the value of
instruments received by the benefi ciary, which is equal to the value
of shares being received, with the discounted value of dividends
expected over the vesting period being zero.
03/31/12 03/31/13
Grant date 06/24/11 10/19/12 02/08/13
Maturity– vesting period (in years) 4 years 4 years 4 years
Fair value of the instrument in € per share €6.42 €6.76 €7.6
Percentage of operating targets reached 100% 100% 100%
Number of instruments as at April1, 2015 128,195(1) 397,180 297,000
Number of instruments granted during the period - - -
Number of cancelled instruments during the period - 34,140 6,000
Number of instruments exercised during the period 128,195 - -
Number of instruments as at March31, 2016 - 363,040 291,000
(1) Number adjusted following issuance of share subscription warrants on April10, 2012
03/31/14
Grant date 05/14/13 06/17/13 10/09/13 10/29/13 02/11/14 03/17/14
Maturity– vesting period (in years) 4 years 4 years 4 years 4 years 4 years 4 years
Fair value of the instrument in € per share €8.6 €10.3 €10.55 €8.92 €11.40 €12.51
Percentage of operating targets reached 100% 100% 100% 100% 100% 100%
Number of instruments as at April1, 2015 146,300 220,833 40,000 653,588 10,000 263,200
Number of instruments granted during the period ------
Number of cancelled instruments during the period 2,600 10,030 - 42,810 - 2,000
Number of instruments exercised during the period ------
Number of instruments as at March31, 2016 143,700 210,803 40,000 610,778 10,000 261,200
03/31/15
Grant date 07/01/14 09/24/14 09/24/14 12/16/14 12/16/14
Maturity– vesting period (in years) 4 years 4 years 3 years 4 years 3 years
Fair value of the instrument in € per share €13.52 €12.71 €7.45 €14.17 €8.38
Percentage of operating targets reached 100% 100% 100% 100% 100%
Number of instruments as at April1, 2015 558,818 10,710 391,530 242,600 72,270
Number of instruments granted during the period -----
Number of cancelled instruments during the period 38,750 - 9,330 10,000 -
Number of instruments exercised during the period -----
Number of instruments as at March31, 2016 520,068 10,710 382,200 232,600 72,270
- Registration Document 2016 133