Unilever 2005 Annual Report Download - page 137
Download and view the complete annual report
Please find page 137 of the 2005 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
 |
 |
134 Unilever Annual Report and Accounts 2005
Notes to the consolidated accounts
Unilever Group
31 Share-based compensation plans (continued)
2005 2004
Weighted Weighted
average average
Number of exercise Number of exercise
options price options price
NV New York shares of €0.51
Outstanding at 1 January ––146 760 $55.44
Granted ––––
Exercised(a) ––(123 843) $55.44
Forfeited ––(22 917) $55.44
Expired ––––
Outstanding at 31 December ––––
Exercisable at 31 December ––––
(a) The weighted average market price of the shares at the time of exercise was as follows: NV shares of €0.51 €54.67 (2004:€54.77);
PLC shares of 1.4p £5.70 (2004: £5.18); and NV New York shares of €0.51 2005: n/a (2004: $66.85).
2005 2004
NV option value information(b)
Fair value per option(c) €8.47 €9.37
Valuation assumptions
Expected option term 3.2 years 3.2 years
Expected volatility(d) 27.5% 27.5%
Expected dividend yield 3.6% 3.3%
Risk-free interest rate 2.4% 3.1%
PLC option value information(b)
Fair value per option(c) £1.09 £1.06
Valuation assumptions
Expected option term 4.5 years 4.3 years
Expected volatility(d) 27.5% 27.5%
Expected dividend yield 3.6% 3.5%
Risk-free interest rate 4.3% 5.1%
(b) Weighted average of options granted during each period.
(c) Estimated using Black-Scholes option pricing method.
(d) Based on historic volatility during the last six years.
The exercise prices and remaining life of the All-Employee Option Plans as at 31 December 2005 are as follows:
Options outstanding Options exercisable
Weighted
Number average Number
outstanding at remaining Weighted exercisable at Weighted
Range of 31 December contractual average 31 December average
exercise prices 2005 life exercise price 2005 exercise price
NV shares of €0.51 €51.00 – €56.72 3 289 476 3 years €52.77 567 069 €52.59
€64.30 – €70.00 2 072 406 1 year €66.51 1 649 608 €66.55
PLC shares of 1.4p £4.25 – £6.20 9 737 574 3 years £5.50 376 322 £5.09