Unilever 2003 Annual Report Download - page 124

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Unilever Annual Report & Accounts and Form 20-F 2003 121
Notes to the consolidated accounts
Unilever Group
29 Equity-based compensation plans continued
The exercise prices and remaining life of the Executive Option Plans as at 31 December 2003 are as follows:
Options outstanding Options exercisable
Weighted
Number average Number
outstanding remaining Weighted exercisable Weighted
Range of at 31 Dec contractual average at 31 Dec average
exercise prices 2003 life exercise price 2003 exercise price
NV shares of €0.51 €42.79–€60.85 8 481 110 8 years €56.02 2 879 303 €54.60
€63.50–€73.97 5 052 368 7 years €66.14 1 666 966 €64.57
PLC shares of 1.4p £2.83–£4.07 2 824 299 3 years £3.46 2 824 299 £3.46
£4.29–£5.55 40 694 973 7 years £4.97 26 185 257 £4.91
£5.77–£6.79 46 241 113 9 years £5.88 1 694 970 £6.68
NV New York shares of €0.51 $25.67–$33.89 454 549 2 years $31.55 454 549 $31.55
$41.16–$56.13 1 219 878 6 years $51.46 988 748 $51.30
$58.35–$76.69 1 926 837 8 years $62.46 832 236 $67.35
PLC shares of 1.4p in the form of ADRs(d) $5.56–$7.73 7 988 692 7 years $7.09 6 460 564 $7.05
$8.35–$10.85 12 790 144 8 years $9.09 5 579 988 $9.43
(d) 1 ADR is equivalent to 4 PLC shares.
(iii) The Share Matching Plans
Under these plans managers can invest up to 25% of their gross bonus in Unilever shares. The company matches this with the same number of
shares on condition that all shares are held for the agreed period (five years for awards made until 2001, three years from 2002 onwards), and
that the manager has not resigned from Unilever at the end of this period. The North American managers participate in the North American
Share Bonus Plan, the others in the Variable Pay in Shares Plan. The numbers below include the numbers for the Directors shown in the
Remuneration report on page 62.
A summary of the status of the Share Matching Plans as at 31 December 2003, 2002 and 2001 and changes during the years ended on these
dates is presented below:
2003 2002 2001
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 225 404 €0.00 77 613 €0.00 26 302 €0.00
Awarded 153 483 €0.00 148 990 €0.00 51 526 €0.00
Exercised (2 664) €0.00 (143) €0.00 – –
Forfeited (2 377) €0.00 (1 056) €0.00 (215) €0.00
Outstanding at 31 December 373 846 €0.00 225 404 €0.00 77 613 €0.00
Exercisable at 31 December – – – – – –
PLC shares of 1.4p
Outstanding at 1 January 1 627 386 £0.00 570 703 £0.00 198 676 £0.00
Awarded 1 002 635 £0.00 1 065 406 £0.00 373 646 £0.00
Exercised (18 910) £0.00 (1 053) £0.00 – –
Forfeited (16 924) £0.00 (7 670) £0.00 (1 619) £0.00
Outstanding at 31 December 2 594 187 £0.00 1 627 386 £0.00 570 703 £0.00
Exercisable at 31 December – – – – – –