Unilever 2002 Annual Report Download - page 113

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110 Notes to the consolidated accounts
Unilever Group
Unilever Annual Report & Accounts and Form 20-F 2002
29 Equity-based compensation plans continued
2002 2001
NV share award value information (b)
Fair value per share award (h) 26.94 57.33
PLC share award value information (b)
Fair value per share award (h) £2.41 £5.11
Actual compensation costs recognised (million) 11 2
(b) Weighted average of share awards granted during each period.
(h) Estimated using adapted binomial pricing model based on cross-volatilities of peer group TSR.
(v) The Restricted Share Plan
In specific once-off cases a number of executives are awarded the right to receive NV and PLC shares at a specified date in the future, on
the condition that they will still be employed by Unilever at that time. No directors participate in this plan.
A summary of the status of the Restricted Share Plan as at 31 December 2002, 2001 and 2000 and changes during the years ended on
these dates is presented below:
2002 2001 2000
Weighted Weighted Weighted
Number of average Number of average Number of average
shares price shares price shares price
NV shares of 0.51
Outstanding at 1 January 381 328 0.00 165 046 0.00 – –
Awarded 37 380 0.00 256 662 0.00 165 046 0.00
Exercised (160 405) 0.00 (40 380) 0.00 – –
Forfeited/Expired (a) (7 696) 0.00 ––––
Outstanding at 31 December 250 607 0.00 381 328 0.00 165 046 0.00
PLC shares of 1.4p
Outstanding at 1 January 2 815 138 £0.00 1 220 226 £0.00 – –
Awarded 275 502 £0.00 1 894 148 £0.00 1 220 226 £0.00
Exercised (1 178 708) £0.00 (299 236) £0.00 – –
Forfeited/Expired (a) (57 116) £0.00 ––––
Outstanding at 31 December 1 854 816 £0.00 2 815 138 £0.00 1 220 226 £0.00
(a) The number of expired share awards is immaterial.
2002 2001 2000
NV share award value information (b)
Fair value per share award 64.21 67.40 53.72
PLC share award value information (b)
Fair value per share award £5.65 £5.73 £4.45
Actual compensation costs recognised (million) 6 62
(b) Weighted average of share awards granted during each period.
(vi) The North American Performance Share Plan
This long-term incentive plan for North American managers awards Unilever shares if company and personal performance targets are met
over a three-year period. It was introduced in 2001 to replace a former long-term incentive plan which had cash awards rather than shares.
A summary of the status of the North American Performance Share Plan as at 31 December 2002 and 2001 and changes during the years
ended on these dates is presented below:
2002 2001
Weighted Weighted
Number of average Number of average
shares price shares price
NV New York shares of 0.51
Outstanding at 1 January 625 451 $0.00 ––
Awarded 639 396 $0.00 625 451 $0.00
Exercised ––––
Forfeited/Expired (a) (41 555) $0.00 ––
Outstanding at 31 December 1 223 292 $0.00 625 451 $0.00
Exercisable at 31 December ––––