Unilever 2000 Annual Report Download - page 83

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81
Unilever Annual Report & Accounts and Form 20-F 2000 Financial Statements
Notes to the consolidated accounts
Unilever Group
Unilever Annual Report & Accounts and Form 20-F 2000
34 Equity based compensation plans continued
The follow ing table summarises information about fixed price stock options outstanding at 31 December 2000:
Options Outstanding Options Exercisable
Number Weighted Number
outstanding at average Weighted exercisable at Weighted
Range of 31 December remaining average 31 December average
exercise prices 2000 contractual life exercise price 2000 exercise price
£2.68 192 156 3 months £2.68 192 156 £2.68
£2.78 5 161 612 1 year £2.78 — —
£3.71 6 744 887 2 years £3.71 — —
£5.94 3 205 223 3 years £5.94 — —
£5.14 3 580 233 4 years £5.14 — —
£4.25 7 628 466 5 years £4.25 — —
£2.68 to £5.94 26 512 577 £4.14 192 156 £2.68
The PLC Executive Option Plans
The PLC Executive Option Plans provide for the granting of options to purchase shares of Unilever PLC and, from 1997 onw ards, also shares
of Unilever N.V. to key employees of the Group. Under the PLC Executive Option Plans, options have been granted on a discretionary basis
to acquire shares at a price which is not less than the market value of the shares on a specified date within a 30 day period ending with the
date on which the options w ere granted. These options become exercisable after a three year period from the date of grant and have a
maximum term of ten years.
No options to purchase shares may be granted if this w ould cause the number of PLC shares which shall have been or may be issued in
pursuance of options to exceed the follow ing numbers:
Unilever PLC 1985 Executive Share Option Scheme – 79 000 000
Unilever PLC 1985 Unapproved Executive Share Option Scheme – 79 000 000
PLC Executive Option Plans – Such number as equals 5% of PLC’s issued ordinary share capital, over a
ten year period.
PLC Executive Option Plans and UK Employee Sharesave Plan – Such number as equals 3% of PLC’s issued ordinary share capital, over a
three year period.
PLC Executive Option Plans and UK Employee Sharesave Plan – Such number as equals 10% of PLC’s issued ordinary share capital, over
a ten year period.
A summary of the status of the PLC Executive Option Plans as at 31 December 2000, 1999 and 1998 and of the changes during the years
ended on these dates is presented below:
2000 1999 1998
Weighted Weighted Weighted
Number average Number average Number average
of shares price of shares price of shares price
PLC Options
Outstanding at 1 January 13 128 282 £4.37 10 691 852 £3.80 10 312 216 £3.01
Granted 3 575 651 £4.32 3 577 825 £5.55 2 187 530 £6.68
Exercised (1 652 560) £3.01 (1 086 689) £2.56 (1 741 396) £2.69
Forfeited (8 100) £6.31 (54 706) £4.94 (66 498) £5.02
Outstanding at 31 December 15 043 273 £4.51 13 128 282 £4.37 10 691 852 £3.80
Options exercisable at 31 December 5 771 567 £3.19 6 039 227 £2.93 4 988 752 £2.73
NV Options
Outstanding at 1 January 1 078 001 61.23 546 328 58.83 221 712 42.84
Granted 551 241 54.13 547 773 63.50 333 926 69.35
Exercised (19 864) 42.79 (11 200) 52.23 (2 400) 42.79
Forfeited (1 250) 67.44 (4 900) 67.52 (6 910) 59.86
Outstanding at 31 December 1 608 128 59.02 1 078 001 61.23 546 328 58.83
Options exercisable at 31 December 190 848 42.84 — — — —